The 7 Most Important Equations for Your Retirement: The Fascinating People and Ideas Behind Planning Your Retirement Income

The 7 Most Important Equations for Your Retirement: The Fascinating People and Ideas Behind Planning Your Retirement Income

By: Moshe A. Milevsky (author)Hardback

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Description

The 800 years of scientific breakthroughs that will help salvage your retirement plans 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.

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About Author

Moshe A. Milevsky, Ph.D., is a professor at York University (Toronto). He has graduate degrees in finance and mathematics, and is a fellow of the Fields Institute for Research in Mathematical Sciences, where he is the executive director of the IFID Centre. He has written nine books, published over 60 peer-reviewed research studies and over 200 magazine articles including a featured story in the Wall Street Journal and a profile in Money Magazine on the topic of retirement income planning. He has delivered over 1,000 seminars, keynote presentations and training sessions to audiences all over the world. His popular writing earned him two National Magazine Awards (Canada). In 2009 he was given a lifetime achievement award from the U.S.-based Retirement Income Industry Association (RIIA). Moshe grew up in Latin America and the U.S., but currently lives in Toronto with his wife and four daughters.

Contents

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 Acknowledgments 195 About the Author 197 Short Poem by Maya Milevsky (age 11) 199 Index 201

Product Details

  • publication date: 12/09/2014
  • ISBN13: 9781118291535
  • Format: Hardback
  • Number Of Pages: 210
  • ID: 9781118291535
  • weight: 398
  • ISBN10: 1118291530

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