{"product_id":"pensionize-your-nest-egg-9781119025252","title":"Pensionize Your Nest Egg","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eGuarantee your retirement income with a DIY pension\u003c\/b\u003e  \u003cp\u003e\u003ci\u003ePensionize Your Nest Egg\u003c\/i\u003e describes how adding the new approach of product allocation to the tried-and-true asset allocation approach can help protect you from the risk of outliving your savings, while maximizing your income in retirement.\u003c\/p\u003e \u003cp\u003eThis book demonstrates that it isn''t the investor with the most money who necessarily has the best retirement income plan. Instead, it''s the investor who owns the right type of investment and insurance products, and uses product allocation to allocate the right amounts, at the right time, to each product category.\u003c\/p\u003e \u003cp\u003eThis revised second edition is expanded to include investors throughout the English-speaking world and updated to reflect current economic realities.\u003c\/p\u003e \u003cp\u003eReaders will learn how to distinguish between the various types of retirement income products available today, including life annuities and variable annuities with living income benefits, and how to eva\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003eList of Exhibits xi\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003ePreface to the Second Edition xv\u003c\/p\u003e \u003cp\u003ePreface to the First Edition xvii\u003c\/p\u003e \u003cp\u003eHow to Use This Book xviii\u003c\/p\u003e \u003cp\u003eIntroduction: Why Retirement Income Is Better than Retirement Savings 1\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART ONE: WHY YOU NEED TO BUILD YOUR OWN PENSION PLAN: THE MOST PREDICTABLE CRISIS IN HISTORY 7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: The Real Pension Crisis 9\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUp a Creek without a Pension Paddle 11\u003c\/p\u003e \u003cp\u003eMixing Defined Benefit Apples and Defined Contribution Oranges 12\u003c\/p\u003e \u003cp\u003eIt Takes Two to Tango: A Basic Lesson about the Nature of True Pensions 22\u003c\/p\u003e \u003cp\u003eGuarantee versus Ruin 23\u003c\/p\u003e \u003cp\u003eWhen Is a Pension Not a Pension? 24\u003c\/p\u003e \u003cp\u003eThere Ain’t No Such Thing … as a Free Pension 25\u003c\/p\u003e \u003cp\u003eThe First True Pensions 27\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Planning for Longevity: Risks While Waiting for Your Return 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Grim Reaper’s Coin Toss 35\u003c\/p\u003e \u003cp\u003eIntroducing Longevity Risk 36\u003c\/p\u003e \u003cp\u003ePredicting Future Longevity 39\u003c\/p\u003e \u003cp\u003eHow Should You Insure against Longevity Risk? 41\u003c\/p\u003e \u003cp\u003eWill You Get Heads … or Tails? 41\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: How the Sequence of Returns Can Ruin Your Retirement 43\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Long Will the Money Last? 44\u003c\/p\u003e \u003cp\u003eClockwise Investment Returns 47\u003c\/p\u003e \u003cp\u003eCounterclockwise Returns 49\u003c\/p\u003e \u003cp\u003eTriangles, Bulls, and Bears: The Retirement Income Circus 51\u003c\/p\u003e \u003cp\u003eCan Buckets Bail Out a Poor Sequence of Returns? 52\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Inflation: The Great Money Illusion 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Does This Mean for Retirees? 58\u003c\/p\u003e \u003cp\u003eThe CPI-ME and the CPI-YOU 60\u003c\/p\u003e \u003cp\u003eDoes the CPI Measure Your Spending? 62\u003c\/p\u003e \u003cp\u003eA Reality Check for Your Retirement Spending 63\u003c\/p\u003e \u003cp\u003eWhat Have We Learned So Far? 64\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART TWO: DEVELOPING A SUSTAINABLE RETIREMENT SOLUTION: THE MODERN APPROACH THAT IS HUNDREDS OF YEARS OLD 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Beyond Asset Allocation: Introducing Product Allocation 67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProduct Allocation: New Baskets for Your Nest Egg 67\u003c\/p\u003e \u003cp\u003eThree Product Silos 68\u003c\/p\u003e \u003cp\u003eThe Spectrum of Retirement Income Silos 70\u003c\/p\u003e \u003cp\u003eHow Do the Silos Stack Up? 72\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: An Introduction to Life Annuities 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePension Contributions as Insurance Premiums 74\u003c\/p\u003e \u003cp\u003eBuying a Personal Pension 75\u003c\/p\u003e \u003cp\u003eWhen Should You Buy an Annuity? 77\u003c\/p\u003e \u003cp\u003eAnnuities versus Term Deposits 79\u003c\/p\u003e \u003cp\u003eIs the Annuity Gamble Worth It? 81\u003c\/p\u003e \u003cp\u003eGreat-Grandma’s Gamble 81\u003c\/p\u003e \u003cp\u003eThe Power of Mortality Credits 83\u003c\/p\u003e \u003cp\u003eWhat about 50-Year-Olds—Should They Buy Personal Pensions? 84\u003c\/p\u003e \u003cp\u003eWhat about Interest Rates? 87\u003c\/p\u003e \u003cp\u003eHow Can I Use Annuities to Protect against Inflation? 89\u003c\/p\u003e \u003cp\u003eUnique and Personal Insurance 90\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: A Review of Traditional Investment Accounts 93\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAsset Allocation in Your SWP 95\u003c\/p\u003e \u003cp\u003eWhat Should You Put in the SWP? 96\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Introducing the Third Silo—Annuities with Guaranteed Living Benefits 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGuarantees and Growth: How Variable Annuities with Guaranteed Living Income Benefits Work 101\u003c\/p\u003e \u003cp\u003eEvaluating an Annuity with Guaranteed Living Benefits: How Should You Choose? 104\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Your Retirement Sustainability: Fundamental Concepts in Retirement Income Planning 107\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhich Glasses Will You Wear? 109\u003c\/p\u003e \u003cp\u003eHow Many Eggs Can You Withdraw from Your Nest? 110\u003c\/p\u003e \u003cp\u003eWhat Should You Protect Against: Floods or Meteorites? 113\u003c\/p\u003e \u003cp\u003eDo You Feel Lucky? Pensions, Survival Probabilities, and Spending in Retirement 114\u003c\/p\u003e \u003cp\u003ePensions Change the Game 114\u003c\/p\u003e \u003cp\u003eHow Does Pensionization Impact Your Retirement Sustainability Quotient? 116\u003c\/p\u003e \u003cp\u003ePension Annuities: Step-by-Step Math 122\u003c\/p\u003e \u003cp\u003eThe True Gift of Pensionization 124\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: The Most Diffi cult Question You Will Ever Have to Answer (About Your Retirement) 125\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRetirement Sustainability or Financial Legacy? 127\u003c\/p\u003e \u003cp\u003ePricing Your Inheritance 128\u003c\/p\u003e \u003cp\u003eFinding Your Spot on the Frontier 130\u003c\/p\u003e \u003cp\u003eChapter 11: Divvying Up Your Nest Egg 133\u003c\/p\u003e \u003cp\u003eCreating a Retirement Plan for Robert Retiree: Cases 1 through 10 133\u003c\/p\u003e \u003cp\u003eWhat Is the Cost to Pensionize? 137\u003c\/p\u003e \u003cp\u003eWhen Should You Pensionize? 140\u003c\/p\u003e \u003cp\u003eWhen Should You Turn Your Living Benefi t On? 141\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: A Deeper Look at the Promise of Pensionization: Revisiting the Two Gertrudes 147\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eActivating the Time Machine: Gertrude at Age 65 148\u003c\/p\u003e \u003cp\u003eLifetime Income: Now or Later? The Implied Longevity Yield 150\u003c\/p\u003e \u003cp\u003eLifetime Income: Now or Later? The Role of Changing Interest Rates 152\u003c\/p\u003e \u003cp\u003eA Tool to Help with Your Decision: The “What If I Wait?” Analyzer 155\u003c\/p\u003e \u003cp\u003eMoving Beyond Yield: Understanding the Cost-Benefit Trade-off of Pensionizing Your Nest Egg 157\u003c\/p\u003e \u003cp\u003ePensionizing: Financial and Nonfi nancial Benefits 160\u003c\/p\u003e \u003cp\u003eSummary of Part Two 161\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART THREE: THE SEVEN STEPS TO PENSIONIZE YOUR NEST EGG 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Step 1: Identify Your Desired Retirement Income 165\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEstimating Your Desired Income from the Top Down 169\u003c\/p\u003e \u003cp\u003eEstimating Your Desired Income from the Ground Up 169\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Step 2: Estimate Your Existing Pensionized Income 173\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePublic Pensions in the United States, United Kingdom, Canada, Australia, and New Zealand 174\u003c\/p\u003e \u003cp\u003eHow Much Will You Receive? 174\u003c\/p\u003e \u003cp\u003eBenefits from a Defined Benefit Pension Plan 175\u003c\/p\u003e \u003cp\u003eWhat If I’m Worried about the Future of My DB Pension Plan? 177\u003c\/p\u003e \u003cp\u003eTiming the Retirement Decision 177\u003c\/p\u003e \u003cp\u003eCompleting Step 2 177\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15: Step 3: Determine Your Pension Income Gap 179\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eYour Average Tax Rate 180\u003c\/p\u003e \u003cp\u003eYour Pension Income Gap 181\u003c\/p\u003e \u003cp\u003eAdjusting for Inflation 183\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16: Step 4: Calculate Your Retirement Sustainability Quotient 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Kind of Eggs Do You Have in Your Nest? 187\u003c\/p\u003e \u003cp\u003eFilling the Gap 188\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17: Step 5: Assess Your Plan: Is It Sustainable? 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18: Step 6: Calculate Your Expected Financial Legacy 197\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19: Step 7: Use Product Allocation to Pensionize the Right Fraction of Your Nest Egg 199\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCase Study: Jack and Jill Go Up the Hill (to Fetch a Retirement Income Plan) 200\u003c\/p\u003e \u003cp\u003eStep 1: Identify Your Desired Retirement Income 201\u003c\/p\u003e \u003cp\u003eStep 2: Estimate Your Existing Pensionized Income 202\u003c\/p\u003e \u003cp\u003eStep 3: Determine Your Pension Income Gap 202\u003c\/p\u003e \u003cp\u003eStep 4: Calculate Your Retirement Sustainability Quotient 203\u003c\/p\u003e \u003cp\u003eStep 5: Assess Your Plan: Is It Sustainable? 204\u003c\/p\u003e \u003cp\u003eStep 6: Calculate Your Expected Financial Legacy 206\u003c\/p\u003e \u003cp\u003eStep 7: Use Product Allocation to Pensionize Your Nest Egg 207\u003c\/p\u003e \u003cp\u003eSummary of Part Three 208\u003c\/p\u003e \u003cp\u003eFinal Thoughts 209\u003c\/p\u003e \u003cp\u003eNotes 213\u003c\/p\u003e \u003cp\u003eBibliography 219\u003c\/p\u003e \u003cp\u003eAcknowledgments 221\u003c\/p\u003e \u003cp\u003eAbout the Authors 223\u003c\/p\u003e \u003cp\u003eIndex 225\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49406968365399,"sku":"9781119025252","price":17.84,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781119025252.jpg?v=1730497729","url":"https:\/\/bookcurl.com\/products\/pensionize-your-nest-egg-9781119025252","provider":"Book Curl","version":"1.0","type":"link"}