Financial Book Review: How Much Money Do I Need to Retire?

Financial book week continues as I look at How Much Money Do I Need to Retire from financial coach Todd Tresidder.

It’s amazing how many of my PF blogger friends have written books. One of my buddies, Todd Tressider, has written a whole series of financial books on 60-minute solutions. Today, I’ll look at How Much Money Do I Need to Retire?, a practical guide to figuring out how much money you need to save if you want to retire comfortably and outlive your money.

Breaking Down Your Retirement Needs


One of the things I like about Todd’s retirement planning financial book is that it’s relatively short. He breaks retirement planning down into three sections, or models. The first section deals with more conventional retirement planning methods. He takes you through a series of questions, and encourages you to think about your individual answers to each of them.

Todd digs into more than just how much you need to save each month to be successful. The setup of this financial book requires you to take an active part in planning your own retirement, and thinking about such items as:

  • The impact of inflation
  • Challenges associated with life expectancy
  • Whether you can really count on Social Security or a company pension
  • Expectations of investment income during retirement
  • The way the order of your returns can affect your outcome.

All of this is important. Once you get through these questions, Todd takes you through different retirement planning myths, and helps you learn how to realistically estimate your investment returns using valuations. He even provides a simplified model that can help you find your retirement “number.”

Todd also offers a number of calculators at his site, FinancialMentor.com. In the book, he shows you how to use online calculators (including his own) in a way that makes sense for your own situation.

The other models in Todd’s book are a little shorter than the first, but they are just as important. Outliving your income during retirement isn’t just about how much you sock away now. You also need to plan your life during retirement. As someone who lives his desired lifestyle, Todd is ideal for helping you see how you can creatively plan your life so that you can have a successful retirement.

Finally, he takes a look at cash flow planning. I’ve said numerous times that cash flow is extremely important — and it is. The way your money moves through your personal financial system now, and during your retirement, matters as much as how much you manage to acquire over your lifetime. It makes sense to think about cash flow planning, as well as long-term planning.

Todd’s book is a smart, practical guide to retirement planning. It’s a step-by-step look at what, exactly, you need to do in order to figure out what it will take to create your own, personalized version of retirement success.

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