Review of Reconfigurement
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Rajnee Varma
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Review of Reconfigurement
[Following is a volunteer review of "Reconfigurement" by E. Alan Fleischauer.]
Reconfigurement written by E. Alan Fleischauer is a succinct self-help book on financial planning and management. The book focuses on planning ahead for retirement, when a person's resources will deplete or stop completely but the expenses will not. With the advancement of medical science, the average life span has increased considerably, as has the number of years post-retirement, increasing the need for a means of income for a financially self-sustaining, comfortable life. The author discusses both the problem and its solution based on his experience of more than twenty years in the field of the American financial services industry. Beginning with the need for planning ahead, the author gradually and very systematically deals with all aspects of financial management. Spread across thirteen chapters in all, topics like income and expenditure, pension plans, insurance, social security, investment choices, and also wills and trusts are covered in great detail. Investment in mutual funds, bonds, and other qualified plans, along with their tax benefits and suitability, are also discussed. The topic of health insurance includes Medicare and Medicaid, assisted living facilities, and even hospice. How career assessment and its application can help decide a new career after or even before retirement is fully described.
What I liked most is the fact that the author reminds the reader time and again to read the fine print of a document before signing it. He also advises consulting a professional financial advisor to choose a plan. The pros and cons, eligibility criteria, tax benefits, renewability of a plan, inflation adjustments, and various options of each plan are outlined and are also supported by authentic statistical data wherever possible. Some books on jobs and financial planning are also recommended at the end of the book. The author has pointed out to the reader how family members—a spouse, children, and grandchildren—affect resources and expenditures and how they should be accounted for.
The book is well written in an easy-to-understand language laced with humor, making a boring subject quite interesting. The author has thrown in some relevant jokes here and there as well. Many websites and software programs are mentioned with their names or links to help the reader without giving preference to one over another.
Some readers may find it disappointing that the book is focused on and useful only for Americans, but in my opinion, that is not a big issue. Since he lives and runs his firm in the U.S., the author is naturally knowledgeable about American society and has taken that into consideration, but any serious reader can easily search and find the equivalent plans and options available in his or her country.
The book is very informative and comprehensive and can help people of all ages and income groups with financial planning. I found no flaws that would have made me diminish the rating. I give it 5 out of 5 stars.
Planning ahead for one's finances is very important, and the earlier, the better. I would recommend this book to people aged thirty and above with a low or moderate income who have started to earn a steady income but have not yet planned for the future.
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Reconfigurement
View: on Bookshelves | on Amazon
Reconfigurement written by E. Alan Fleischauer is a succinct self-help book on financial planning and management. The book focuses on planning ahead for retirement, when a person's resources will deplete or stop completely but the expenses will not. With the advancement of medical science, the average life span has increased considerably, as has the number of years post-retirement, increasing the need for a means of income for a financially self-sustaining, comfortable life. The author discusses both the problem and its solution based on his experience of more than twenty years in the field of the American financial services industry. Beginning with the need for planning ahead, the author gradually and very systematically deals with all aspects of financial management. Spread across thirteen chapters in all, topics like income and expenditure, pension plans, insurance, social security, investment choices, and also wills and trusts are covered in great detail. Investment in mutual funds, bonds, and other qualified plans, along with their tax benefits and suitability, are also discussed. The topic of health insurance includes Medicare and Medicaid, assisted living facilities, and even hospice. How career assessment and its application can help decide a new career after or even before retirement is fully described.
What I liked most is the fact that the author reminds the reader time and again to read the fine print of a document before signing it. He also advises consulting a professional financial advisor to choose a plan. The pros and cons, eligibility criteria, tax benefits, renewability of a plan, inflation adjustments, and various options of each plan are outlined and are also supported by authentic statistical data wherever possible. Some books on jobs and financial planning are also recommended at the end of the book. The author has pointed out to the reader how family members—a spouse, children, and grandchildren—affect resources and expenditures and how they should be accounted for.
The book is well written in an easy-to-understand language laced with humor, making a boring subject quite interesting. The author has thrown in some relevant jokes here and there as well. Many websites and software programs are mentioned with their names or links to help the reader without giving preference to one over another.
Some readers may find it disappointing that the book is focused on and useful only for Americans, but in my opinion, that is not a big issue. Since he lives and runs his firm in the U.S., the author is naturally knowledgeable about American society and has taken that into consideration, but any serious reader can easily search and find the equivalent plans and options available in his or her country.
The book is very informative and comprehensive and can help people of all ages and income groups with financial planning. I found no flaws that would have made me diminish the rating. I give it 5 out of 5 stars.
Planning ahead for one's finances is very important, and the earlier, the better. I would recommend this book to people aged thirty and above with a low or moderate income who have started to earn a steady income but have not yet planned for the future.
******
Reconfigurement
View: on Bookshelves | on Amazon
Latest Review: Inside Passage: by Burt Weissbourd
