Review of Reconfigurement
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Review of Reconfigurement
Reconfigurement by E. Alan Fleischauer is a book that offers a unique perspective on retirement planning, particularly for people who may not have considered it yet. The author, a financial services executive and experienced financial advisor, emphasizes the importance of retirement planning as preparation for unexpected events and changes in the future, such as rising bills and longer life expectancy. The book's central concept encourages readers to think beyond the traditional idea of retiring at 65 and instead focus on organizing their lives to accumulate more earnings and continue working past that age.
To buttress his point, he gave an example of how the introduction of vitamins, Botox injections, hip replacements, and other medical advancements have added almost 30 years to the average American lifespan. He opined that since there is an increase in lifespan, our needs and wants will continue to increase because, with old age comes several financial demands. Hence, we need to plan our lives so that we can afford these needs and wants even after retirement. He was blunt in discussing some realities that may sound harsh to readers. He reminded the reader that circumstances like bankruptcy have eroded common safety nets like pensions and other forms of social security.
The author offers practical tips and tools for planning, including recommended questions to answer and a focus on the crucial elements of income and budget. He also analyzed and explained financial concepts, such as social security, insurance, and investments. Additionally, the author provides resources for career assessments to assist readers in reevaluating their current jobs and exploring other roles that align with their skills to diversify their income streams.
The author used real-life examples and case studies to enhance the reader's engagement with the content. He emphasized the significance of income and budgeting as fundamental elements of planning, making the concepts relatable for readers of all ages. I love the fact that the author suggested actionable steps that a reader can follow to plan for retirement. Another distinctive feature of the book is the exceptional editing. I didn’t spot any errors. There is nothing I disliked about the book. Hence, I rate it 5 out of 5 stars.
Overall, I believe this book is highly relevant and appropriate to read, especially in light of my experience with "black tax" - the expectation for children to financially support their parents after retirement. There is no better time to read this book than now. I recommend this book to both young and older readers due to its valuable insights and information. For young people, reading this book now would be the perfect time to start planning their future. For older individuals, it is never too late to change their mindsets and reevaluate their retirement plans
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Reconfigurement
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