Review of Reconfigurement
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Jay_shon03
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Review of Reconfigurement
[Following is a volunteer review of "Reconfigurement" by E. Alan Fleischauer.]
When the issue of retirement plans is brought up, young people, particularly those under the age of 50, often avoid it. They perceive it as something that only older people should be concerned with. However, by the time they start planning at 50, a lot of them make ill-informed decisions that disrupt their post-retirement life. Although many books have been written to educate individuals about retirement plans, very few make efforts to change a reader’s perspective before offering the necessary facts. One such book is Reconfigurement written by E. Alan Fleischauer. He is a financial services executive, merchant banker, and venture capitalist.
The author developed a concept that emphasized the need to plan for retirement as a way to stay prepared for what is to come due to the difference between the norm and the current situation taking into account factors like increasing bills and increased longevity owing to improvements in medicine and technology. This was accomplished through a unique approach that includes research and his over 30 years of work experience as a financial advisor. To assist people in adjusting their lifestyles and making good retirement plans, he developed the Reconfigurement financial planning concept. The concept is a major deviation from the usual emphasis to invest in assets and save to retire at 65.
The Reconfigurement concept is based on two tenets: the need to organize one's life so that one can accumulate more earnings and the importance of continuing to work after the conventional retirement age of 65.
The author offered helpful tips and tools to make planning easier for the reader by recommending actionable steps. He outlined a few questions that should be answered before reconfiguring. In addition, he recommended that the two most crucial aspects of planning—income and budget—be carefully considered. It is difficult to disagree with the author because, without a reasonable income, it is almost impossible to live comfortably, let alone plan for retirement. Similarly, one’s income will never be sufficient once it is not budgeted. To reconfigure, you must first figure out these two elements; only then can you make decisions on your career, investments, and social security plans.
The depth of his analysis and distillation of fundamental issues including social security, insurance policies, investments, trusts, and wills was a clear indication of his years of expertise as a Financial Advisor. Like a high school teacher, the author addressed each of them in detail so that the reader will understand the benefits and drawbacks, requirements, and packages related to each. This book has helped me grasp some of these terms that are unique to the American system. I was more fascinated with the part on career assessments. The resources he mentioned for career aptitude tests will assist in deciding what additional jobs to take on to supplement my main source of income.
I had some reservations when I started reading the book because it seemed as though the author had only considered Americans. But common sense eventually prevailed. I understood that every nation had a distinctive financial system of its own. Writing on such a subject for a global audience would need the author to have a solid understanding of the financial systems of the majority of nations. This book contains a wealth of information that non-Americans like me can learn. Knowing that longer life means more obligations and problems will at least spur me to start planning before I turn 50.
I enjoyed the author's use of humour and straightforward language to communicate his point. The editing of the book was exceptionally done. There were no errors spotted in the book. There was nothing I disliked about the book. Thus, I am rating it 4 out of 4 stars.
I recommend this book to both the young and the elderly. Young people should read it because it will enlighten them on how to plan their future as well as their finances. Older people should read it because it will give them more insight into post-retirement activities.
******
Reconfigurement
View: on Bookshelves | on Amazon
When the issue of retirement plans is brought up, young people, particularly those under the age of 50, often avoid it. They perceive it as something that only older people should be concerned with. However, by the time they start planning at 50, a lot of them make ill-informed decisions that disrupt their post-retirement life. Although many books have been written to educate individuals about retirement plans, very few make efforts to change a reader’s perspective before offering the necessary facts. One such book is Reconfigurement written by E. Alan Fleischauer. He is a financial services executive, merchant banker, and venture capitalist.
The author developed a concept that emphasized the need to plan for retirement as a way to stay prepared for what is to come due to the difference between the norm and the current situation taking into account factors like increasing bills and increased longevity owing to improvements in medicine and technology. This was accomplished through a unique approach that includes research and his over 30 years of work experience as a financial advisor. To assist people in adjusting their lifestyles and making good retirement plans, he developed the Reconfigurement financial planning concept. The concept is a major deviation from the usual emphasis to invest in assets and save to retire at 65.
The Reconfigurement concept is based on two tenets: the need to organize one's life so that one can accumulate more earnings and the importance of continuing to work after the conventional retirement age of 65.
The author offered helpful tips and tools to make planning easier for the reader by recommending actionable steps. He outlined a few questions that should be answered before reconfiguring. In addition, he recommended that the two most crucial aspects of planning—income and budget—be carefully considered. It is difficult to disagree with the author because, without a reasonable income, it is almost impossible to live comfortably, let alone plan for retirement. Similarly, one’s income will never be sufficient once it is not budgeted. To reconfigure, you must first figure out these two elements; only then can you make decisions on your career, investments, and social security plans.
The depth of his analysis and distillation of fundamental issues including social security, insurance policies, investments, trusts, and wills was a clear indication of his years of expertise as a Financial Advisor. Like a high school teacher, the author addressed each of them in detail so that the reader will understand the benefits and drawbacks, requirements, and packages related to each. This book has helped me grasp some of these terms that are unique to the American system. I was more fascinated with the part on career assessments. The resources he mentioned for career aptitude tests will assist in deciding what additional jobs to take on to supplement my main source of income.
I had some reservations when I started reading the book because it seemed as though the author had only considered Americans. But common sense eventually prevailed. I understood that every nation had a distinctive financial system of its own. Writing on such a subject for a global audience would need the author to have a solid understanding of the financial systems of the majority of nations. This book contains a wealth of information that non-Americans like me can learn. Knowing that longer life means more obligations and problems will at least spur me to start planning before I turn 50.
I enjoyed the author's use of humour and straightforward language to communicate his point. The editing of the book was exceptionally done. There were no errors spotted in the book. There was nothing I disliked about the book. Thus, I am rating it 4 out of 4 stars.
I recommend this book to both the young and the elderly. Young people should read it because it will enlighten them on how to plan their future as well as their finances. Older people should read it because it will give them more insight into post-retirement activities.
******
Reconfigurement
View: on Bookshelves | on Amazon
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Timothy_Oye
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One beauty of life is to have a lot of money, another is to have control over it. Retirement should be aimed at a young age too.
Latest Review: WatchDogs Abnormal Beginnings by Mike L Junior
