Review of Reconfigurement
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Ochieng Omuodo
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Review of Reconfigurement
[Following is a volunteer review of "Reconfigurement" by E. Alan Fleischauer.]
Reconfigurement by E. Alan Fleischauer is a non-fiction book about reconfiguring your life, at any stage, and planning for retirement in whatever form that may take. Fleischauer defines reconfigurement as ‘planning ahead’. You had better believe him because you will not find that word in a dictionary. He sets the stage by showing how the U.S. – ‘the land of milk, honey and unlimited opportunity’ – is beset by serious challenges for retirement planning. These challenges stem from the financial services industry’s tendency to cling to a traditional approach to retirement. Instead, strategies and products that are responsive to new realities should be developed. Fleischauer argues that the major new reality is the simple demographic fact that Americans are living longer than ever before and, therefore, far beyond the traditional retirement age of 65 years. Americans are in ‘danger’ of living too long and running out of money!
The book progresses in a logical order that covers planning, retirement, and even death. Fleischauer shows how income is actually an asset and needs to be protected like one. He provides career assessment information to help you identify things on which to base your reconfiguration. He then presents and discusses computer software and online tools for planning retirement endeavours like starting a new business, part-time work, travel, and many more. There are also various chapters discussing the historical and contemporary contexts of important products and services including life insurance, social security, investment, Medicare, Medicaid, long-term care, wills, and trusts. Fleischauer concludes by advising that, unlike he did, we should not wait for a potentially life-ending event to jolt us into action.
I do not exaggerate when I state that I enjoyed reading about these seemingly dull, difficult, and sensitive topics. They are discussed simply, the positions Fleischauer takes are supported by evidence, and the overall delivery is humorous. He peppers the book with many appallingly hilarious and cringe worthy jokes like, ‘life insurance costs money, and you need to be dead to reap the benefits’. This approach reminded me of an administrative compliance trainer I once had in the way he was able to make what would be effective bedtime stories – topics that would bore you to sleep – funny and interesting.
The aspect of the book that I found most impressive was just how informative it was. I had never imagined that such things as income protection plans and retirement planning software existed. There was also historical information about the development of social security, pensions, insurance, and others. I discovered that some of them even dated back to ancient times. Further, there was a chapter on recommended reading. I expect that, coming from and expert in the field, these resources will be valuable. Fleischauer also supplemented his expertise by providing authoritative references for the data he used and practical advice – utilising third party sources (websites) – for readers to assess their career aptitudes, work values, talent, and other aspects as a basis for reconfiguration.
The only issue I had was with some undefined abbreviations. I noted that most terms were explained in the narrative and that this book targeted an American audience probably familiar with the abbreviations. Nevertheless, it is usually good practice not to assume that readers will know what you mean. Therefore, a glossary would have been nice.
However, I did not find anything that I disliked and gladly rate the book four out of four. Not only did Fleischauer provide invaluable information about a difficult subject, but he presented it in a simple, informative, grammatically exceptional, and captivating style. I cannot believe that I am describing a book about finance like this.
It would be presumptuous of me to recommend the book to all Americans, or at least to the 60 per cent – a statistic from the book – of those who do not plan for retirement. I will do it anyway: every American must read it! In a country with as many opportunities as Fleischauer has presented, it would surely be remiss of its citizens not to utilise them. For people in developing countries like me, this book provides a vision of where we should be when we become as much in danger of living ‘too long’ and running out of money as the Americans. Finally, if you are simply looking to reset your life, then you too will find this book useful.
******
Reconfigurement
View: on Bookshelves | on Amazon
Reconfigurement by E. Alan Fleischauer is a non-fiction book about reconfiguring your life, at any stage, and planning for retirement in whatever form that may take. Fleischauer defines reconfigurement as ‘planning ahead’. You had better believe him because you will not find that word in a dictionary. He sets the stage by showing how the U.S. – ‘the land of milk, honey and unlimited opportunity’ – is beset by serious challenges for retirement planning. These challenges stem from the financial services industry’s tendency to cling to a traditional approach to retirement. Instead, strategies and products that are responsive to new realities should be developed. Fleischauer argues that the major new reality is the simple demographic fact that Americans are living longer than ever before and, therefore, far beyond the traditional retirement age of 65 years. Americans are in ‘danger’ of living too long and running out of money!
The book progresses in a logical order that covers planning, retirement, and even death. Fleischauer shows how income is actually an asset and needs to be protected like one. He provides career assessment information to help you identify things on which to base your reconfiguration. He then presents and discusses computer software and online tools for planning retirement endeavours like starting a new business, part-time work, travel, and many more. There are also various chapters discussing the historical and contemporary contexts of important products and services including life insurance, social security, investment, Medicare, Medicaid, long-term care, wills, and trusts. Fleischauer concludes by advising that, unlike he did, we should not wait for a potentially life-ending event to jolt us into action.
I do not exaggerate when I state that I enjoyed reading about these seemingly dull, difficult, and sensitive topics. They are discussed simply, the positions Fleischauer takes are supported by evidence, and the overall delivery is humorous. He peppers the book with many appallingly hilarious and cringe worthy jokes like, ‘life insurance costs money, and you need to be dead to reap the benefits’. This approach reminded me of an administrative compliance trainer I once had in the way he was able to make what would be effective bedtime stories – topics that would bore you to sleep – funny and interesting.
The aspect of the book that I found most impressive was just how informative it was. I had never imagined that such things as income protection plans and retirement planning software existed. There was also historical information about the development of social security, pensions, insurance, and others. I discovered that some of them even dated back to ancient times. Further, there was a chapter on recommended reading. I expect that, coming from and expert in the field, these resources will be valuable. Fleischauer also supplemented his expertise by providing authoritative references for the data he used and practical advice – utilising third party sources (websites) – for readers to assess their career aptitudes, work values, talent, and other aspects as a basis for reconfiguration.
The only issue I had was with some undefined abbreviations. I noted that most terms were explained in the narrative and that this book targeted an American audience probably familiar with the abbreviations. Nevertheless, it is usually good practice not to assume that readers will know what you mean. Therefore, a glossary would have been nice.
However, I did not find anything that I disliked and gladly rate the book four out of four. Not only did Fleischauer provide invaluable information about a difficult subject, but he presented it in a simple, informative, grammatically exceptional, and captivating style. I cannot believe that I am describing a book about finance like this.
It would be presumptuous of me to recommend the book to all Americans, or at least to the 60 per cent – a statistic from the book – of those who do not plan for retirement. I will do it anyway: every American must read it! In a country with as many opportunities as Fleischauer has presented, it would surely be remiss of its citizens not to utilise them. For people in developing countries like me, this book provides a vision of where we should be when we become as much in danger of living ‘too long’ and running out of money as the Americans. Finally, if you are simply looking to reset your life, then you too will find this book useful.
******
Reconfigurement
View: on Bookshelves | on Amazon
Latest Review: Endgame by William Reed
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Juma Florence
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I picked a lot of new ideas on finance and money from this book. On insurance policies and taxation, for instance, he pointed out some loopholes in the laws and gave solid advice on how to benefit from them. Okay, maybe not really benefit, but avoid exploitation. I also loved the assessment links he included in the book. I took one of them and found it quite helpful. His take on life insurance was also quite convincing; I'm one of the people who has never seen the need for one. After reading the book, I will have to think about that again.
Latest Review: Karmic Selling by Stan Gwizdak
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