The 7 Most Important Equations for Your Retirement: The Fascinating People and Ideas Behind Planning Your Retirement Income
Physics, Chemistry, Astronomy, Biology; every field has its intellectual giants who made breakthrough discoveries that changed the course of history. What about the topic of retirement planning? Is it a science? Or is retirement income planning just a collection of rules-of-thumb, financial products and sales pitches? In The 7 Most Important Equations for Your Retirement...And the Stories Behind Them Moshe Milevsky argues that twenty first century retirement income planning is indeed a science and has its foundations in the work of great sages who made conceptual and controversial breakthroughs over the last eight centuries.
In the book Milevsky highlights the work of seven scholars—summarized by seven equations—who shaped all modern retirement calculations. He tells the stories of Leonardo Fibonnaci the Italian businessman; Benjamin Gompertz the gentleman actuary; Edmund Halley the astronomer; Irving Fisher the stock jock; Paul Samuelson the economic guru; Solomon Heubner the insurance and marketing visionary, and Andrey Kolmogorov the Russian mathematical genius—all giants in their respective fields who collectively laid the foundations for modern retirement income planning.
- With baby boomers starting to hit retirement age, planning for retirement income has become a hot topic across the country
- Author Moshe Milevsky is an internationally-respected financial expert with the knowledge you need to assess whether you are ready to retire or not
- Presents an entertaining, informative narrative approach to financial planning
Understanding the ideas behind these seven foundation equations—which Moshe Milevsky explains in a manner that everyone can appreciate—will help baby boomers better prepare for retirement. This is a book unlike anything you have ever read on retirement planning. Think Suze Orman meets Stephen Hawking. If you ever wondered what the point of all that high school mathematics was, Moshe Milevsky's answer is: So that you can figure out how to retire...while you can still enjoy your money.
Introduction: An Equation Can't Predict Your Future . . .But It
Can Help You Plan for It 1
Chapter 1: How Long Will My Number Last?
Equation #1: Leonardo Fibonacci (1170–1250) 7
Chapter 2: How Long Will I Spend in Retirement?
Equation #2: Benjamin Gompertz (1779–1865) 31
Chapter 3: Is a Pension Annuity Worth It?
Equation #3: Edmond Halley (1656–1742) 53
Chapter 4: What Is a Proper Spending Rate?
Equation #4: Irving Fisher (1867–1947) 77
Chapter 5: How Much in Risky Stocks versus Safe Cash?
Equation #5: Paul Samuelson (1915–2009) 101
Chapter 6: What Is Your Financial Legacy Today?
Equation #6: Solomon S. Huebner (1882–1964) 125
Chapter 7: Is My Current Plan Sustainable?
Equation #7: Andrei N. Kolmogorov (1903–1987) 151
Conclusion: Controversies, Omissions and Concluding Thoughts 175
Appendix: Crash Course on Natural and Unnatural Logarithms 179
References and Sources 185
About the Author 197
Short Poem by Maya Milevsky (age 11) 199
The 7 Most Important Equations for Your Retirement: The Fascinating People and Ideas Behind Planning Your Retirement Income (US $27.00)
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