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On Golden Pond... Or Up the Creek

Customer Rating:
Great title but worthless book. Do not be sucked in by the title and excellent cover. There is little in the book except sophomoric drivel. Any other basic book on the subject of the financial ramifications of retirement subsume any thoughts put forward in this book and go way beyond them. Don't waste your money, unless you like pretty covers.

Great book!

Customer Rating:
All of us have a picture of what we hope our future retirement (i.e. destination) will look like. In "On Golden Pond...or up a creek?", the author, in a humorous, non-judgmental or condescending tone, shows us not only how to take that picture out of our mind, and transfer onto paper, but also helps us design a "roadmap" to getting there. A roadmap that is as individualized as we are, as each is based on our unique past experience, current situation and responsibilities, and our future hopes and dreams. Should we choose to follow the roadmap we develop based on the principles outlined in this book, our hopes and dreams become the journey. We can be confident about reaching our destination, because we know exactly where we're headed, how we'll get there, and when we'll arrive. Thank you Bill, for unselfishly giving of your time in writing this book; hopefully "Golden Pond" will be very crowded!

On Golden Pond... Or Up the Creek?:

Customer Rating:
Kudos to Bill Billimoria for this very readable and entertaining primer on the blocking and tackling fundamentals of retirement planning. This deceptively simple text should be required reading for every early career person trying to decide about signing up for their employer's 401(k) or an entrepreneur vaguely considering creating an IRA. The concepts outlined in the book should motivate them to action. It's never too soon to start planning for retirement. Once the habit is formed it will stand you in good stead all your life. The alternative to taking Bill's advice is to marry rich.....something most of us have failed to do!
Alice Magos, MSA, CFP, CFE

Thanks Bill

Customer Rating:
Financial Planning books are usually eyes glazed over boring, but On Golden Pond or Up The Creek kept my interest the whole time. I found all of the concepts easy to understand and, more importantly, easy to apply to my life. What's best is that it's humorous. I don't know how you turn a book about things financial into a page turner, but Bill pulled it off. Thanks Bill...finally a book about financial planning I can use.

enlightening for the uninitiated, superifical for others

Customer Rating:
This book is something to provide to younger people in our society who are entering the workforce or a career. Many of them have absolutely no idea about the dynamics of money as a means of achieving wealth to lead an independent life upon retirement. Retirement itself is a foreign concept to many of these younger people who are more intent on consuming than investing. But what is important is that they have the element of time to allow their investment to grow if only they could see that benefit and take advantage of it. This book does exactly that. For those of us who have recognized the principles of time and compounding of interest, dividents, and capital gains in our own investments strategy, there is nothing here that is either revolutionary or adds to the already existing literature on that topic. In one chapter, the author discusses in general terms the impact of estate planning, but there are no details or real explanations about the intricacies of it. There is no discussion of gifting or renunciation of bequests as a means of passing wealth irrespective of ordinary testamentary devices such as outright bequests or through trusts. While I am not suggesting that the author needs to provide legal advice, I would have appreciated seeing a discussion of some other estate planning concepts as those just mentioned. This would have provided some ideas. Instead, he advises people to seek legal counsel after a brief discussion of the complexity of estate planning. There are other books out there providing more detailed information about the concepts of estate planning for retirees. Also there are no details on how to take minimum distributions from tax deferred investments, whether to take early Social Security retirement benefits, advantages or disadvantages in converting from tax deferred IRAs to Roth IRAs, and types of long-term care insurance policies and advantages on how they can be structured. These details can be found in other books but are not included here. Since there is no index to this short volume, it can be said that its chief advantage is really that of a primer rather than an exhaustive discussion. Perhaps it is most useful as a springboard for further reading, especially for younger people. Most of us saving for retirement have already mastered the lessons set forth in this book. It is time to go on. Let me suggest Evensky and Katz's Retirement Income Redesigned and Slott's Your Complete Retirement Planning Road Map. While neither of these books deals with all aspects of retirement, they do provide an excellent and detailed discussion of dealing with retirement plans already in effect.