An essential blueprint for investors seeking financial security and independence The second edition of Plan Your Prosperity: The Only Retirement Guide You'll Ever Need, Starting Now-Whether You're 22, 52 or 82, by bestselling author and veteran adviser Ken Fisher, shares the crucial elements in crafting a retirement investing approach for your entire lifetime. You'll learn how to think about your time horizon, expected returns, cash flows, and other key metrics to help you build a plan that targets your desired lifestyle in retirement. You'll also discover techniques to help you start building…mehr
An essential blueprint for investors seeking financial security and independence The second edition of Plan Your Prosperity: The Only Retirement Guide You'll Ever Need, Starting Now-Whether You're 22, 52 or 82, by bestselling author and veteran adviser Ken Fisher, shares the crucial elements in crafting a retirement investing approach for your entire lifetime. You'll learn how to think about your time horizon, expected returns, cash flows, and other key metrics to help you build a plan that targets your desired lifestyle in retirement. You'll also discover techniques to help you start building a retirement plan that increases the likelihood you live the retirement you want. And, it offers succinct advice in navigating the disorienting myths and pitfalls many fall prey to along their investing journey. Plan Your Prosperity shows you how to answer common and critical questions about how to approach investing in your own life: What are your investment goals? What mix of stocks, bonds and other securities should you use? How can you estimate whether your savings are sufficient? How much money will you need when you retire? Fisher walks you through a step-by-step method designed to solve these-and other-dilemmas. Plan Your Prosperity is a must-read for retirement investors at every stage of life.
KEN FISHER is Founder, Executive Chairman, and Co-Chief Investment Officer of Fisher Investments, a $290-plus billion (as of September 30, 2024) money management firm serving high-net-worth investors and institutions globally. He wrote Forbes' prestigious "Portfolio Strategy" column monthly for over 32 years, making him the magazine's longest continuously running columnist. He now writes monthly, native-language columns for over 25 major outlets worldwide, including The New York Post, the UK's Daily Telegraph and Canada's Globe and Mail. He is the author of 11 books on investing and personal finance and is a New York Times bestselling author.
Inhaltsangabe
Preface vii Acknowledgments xi Chapter 1: What? Me? Retire? 1 The Imagined Dichotomy 3 Two Goals and Some Non-Goals 4 Definitions and a Pencil 9 Start Immediately. Now. Right Away 13 Plan Your Prosperity 14 Chapter 2: My Goals Are What? 17 Why Is This So Hard? 20 Your Investing Goals, Simply 24 Potential Pitfall: Capital Preservation and Growth 27 Inflation's Insidious Impact 30 Three-and-a-Half Percent, Compounded 35 Chapter 3: The Secret Code-Asset Allocation or Benchmark? 39 Benchmark: A Road Map and Measuring Stick 42 Picking a Benchmark 45 The Big Decision: Asset Allocation 46 Potential Pitfall: Age Doesn't Equal Asset Allocation 50 Benchmark vs. Asset Allocation: What's the Difference? 52 Chapter 4: Time Horizon-Longer Than You Think 63 Potential Pitfall: Ignoring Opportunity Cost 66 Time Horizon: What Is It? 68 Time Horizon and Benchmark 72 Chapter 5: What's in a Return? 79 Growth Defined 83 The Past as a Guide? 87 Gordon Moore and Endless Innovation 97 Potential Pitfall: Unrealistic Expectations 100 Chapter 6: Getting That Cash Flow 105 Potential Pitfall: The All High-Dividend Portfolio 108 How Much Do You Need? 111 Monte Carlo: Not Just a Casino 116 Let's Get Simulating 117 Chapter 7: Can I Get There? 129 How Much Do You Have? 132 A Savings Plan 135 Chapter 8: Putting It All Together 143 To Benchmark or Not to Benchmark 146 State Your Goals 148 Know Where You Are 149 Picking a Sound Benchmark 150 Finding Professional Help 153 Avoid Being a Fraud Victim 155 And You're Off! 156 Appendix A: All Hail the Mighty Dow 157 Appendix B: Cash Flow vs. Expenses 167 Appendix C: Expense Categories 173 Appendix D: Personal Balance Sheet 177 Appendix E: Tax-Efficient Retirement Income Strategies 181 Notes 187 About the Authors 191 Index 193
Preface vii Acknowledgments xi Chapter 1: What? Me? Retire? 1 The Imagined Dichotomy 3 Two Goals and Some Non-Goals 4 Definitions and a Pencil 9 Start Immediately. Now. Right Away 13 Plan Your Prosperity 14 Chapter 2: My Goals Are What? 17 Why Is This So Hard? 20 Your Investing Goals, Simply 24 Potential Pitfall: Capital Preservation and Growth 27 Inflation's Insidious Impact 30 Three-and-a-Half Percent, Compounded 35 Chapter 3: The Secret Code-Asset Allocation or Benchmark? 39 Benchmark: A Road Map and Measuring Stick 42 Picking a Benchmark 45 The Big Decision: Asset Allocation 46 Potential Pitfall: Age Doesn't Equal Asset Allocation 50 Benchmark vs. Asset Allocation: What's the Difference? 52 Chapter 4: Time Horizon-Longer Than You Think 63 Potential Pitfall: Ignoring Opportunity Cost 66 Time Horizon: What Is It? 68 Time Horizon and Benchmark 72 Chapter 5: What's in a Return? 79 Growth Defined 83 The Past as a Guide? 87 Gordon Moore and Endless Innovation 97 Potential Pitfall: Unrealistic Expectations 100 Chapter 6: Getting That Cash Flow 105 Potential Pitfall: The All High-Dividend Portfolio 108 How Much Do You Need? 111 Monte Carlo: Not Just a Casino 116 Let's Get Simulating 117 Chapter 7: Can I Get There? 129 How Much Do You Have? 132 A Savings Plan 135 Chapter 8: Putting It All Together 143 To Benchmark or Not to Benchmark 146 State Your Goals 148 Know Where You Are 149 Picking a Sound Benchmark 150 Finding Professional Help 153 Avoid Being a Fraud Victim 155 And You're Off! 156 Appendix A: All Hail the Mighty Dow 157 Appendix B: Cash Flow vs. Expenses 167 Appendix C: Expense Categories 173 Appendix D: Personal Balance Sheet 177 Appendix E: Tax-Efficient Retirement Income Strategies 181 Notes 187 About the Authors 191 Index 193
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