Paychecks and Playchecks Retirement Solutions for Life eBook Tom Hegna
Download As PDF : Paychecks and Playchecks Retirement Solutions for Life eBook Tom Hegna 
If you ask 50 different financial advisors, you will get 50 different opinions about how to plan for a secure retirement. Their opinions are likely to be sub-optimal. Instead of offering you his opinion, Tom Hegna lays out for you the math and science behind a very simple retirement solution. It is so simple, that you will probably ask yourself, "Why doesn't every financial advisor know this?"
Paychecks and Playchecks Retirement Solutions for Life eBook Tom Hegna
For me, this book simply reinforced economic concepts I had already learned. But it also provided valuable new information and ways of articulating the facts. I would have liked to see a section of this book dedicated to how permanent life insurance can act as an asset replacement tool for the money used to fund a SPIA. Nevertheless, this book is full of great information.While I think everyone should read this book, I think it's even more important for financial advisors to read it. I've come across many advisors who mean well, but have been trained to advise in a way that isn't necessarily doing what's best for the client. It makes sense when you think about it... other than insurance companies, most financial institutions make the bulk of their money by collecting YOUR money. Why would they spend time and money educating you on the phase of your life when you start taking that money back?
Do yourself (and maybe your clients) a favor and read this book.
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Paychecks and Playchecks Retirement Solutions for Life eBook Tom Hegna Reviews
This book is a must for anyone who is confused with all the different ways to build a nest egg for retirement. People today will not retire the way their parents and grandparents retired. This is a straight forward guide on how to navigate the changing world of retirement.
All options should be reviewed for retirement and then choose the best option for your situation. I highly recommend this book.
The author makes the different types of annuities very understandable. He also explains how age credits are good for the annuity candidate. In addition, he stresses that retirees can make "play checks" so we can do the things we want to do in our new life.
This is an excellent book for the non-financial planner to read. They will get a balanced well thought out approach to retirement planning and they will learn how to generate the largest possible retirement paycheck for the rest of their life. Being in the financial services industry I have read many planning books most have an obvious prejudice. Tom Hegna does show his bios towards using variable annuities but he does show all investment and saving vehicals and how best to fit them into your retirement plan. Every boomer thinking about retirement should read "Pay Checks and Play Checks".
I gave this book 5 stars only because I bought this book on several high recommendations. I took the book to work with the intentions of reading it but someone stole it off my desk so I never really read the book per se. I know that you shoppers rely on me the purchaser to rate this book. I take that responsibility seriously. You guys are counting me and I don't want to let you down. So the truth is this book is so in demand that people are willing to steal it. All ethical thoughts out the window when it comes to aquiring this book.
I've posted several reviews on books about retiring. Almost all of those talk about similar topics, like waiting as late as possible to file for Social Security, saving as much as possible and using diverse products to protect against a variety of risks. Our financial adviser is a big proponent of life insurance products and we've talked about a variety of products like annuities, life insurance and long term care. Each of those conversations came in discrete discussions as we considered individual risks.
Last week I went to a seminar about maximizing Social Security and "Pay Checks and Play Checks" was recommended as a fact-based, non-emotional book about securing your retirement. I ordered the version and just completed it. It was as billed ... a step-by-step discussion of a variety of insurance products that can work together to secure one's retirement regardless of what the financial markets do. It starts by laying out the many, many bad things that can happen and risks that exist that can result in running out of money. The beginning was not unlike what many of the more recent retirement books warn against but in this case there was more than luck that could be counted upon.
Hegna then gets into a discussion of Social Security, annuities, life insurance, long term care and estate planning. He gets into enough detail to explain how the products in each of those areas can be adapted to each person's/couple's specific needs. As you see these different possibilities it opens up more questions that make you realize you need an expert's help to make these kinds of decisions. Which is what he definitely recommends.
This book is great because it explains that there are things you can do to lock in a secure retirement. As is always the case, having the assets saved is critical, but Hegna points out that even those with limited resources can benefit from using these insurance products. He is so positive about the life insurance industry because of their stability (compared to banks) and because they've seen it all as they build data analysis into their design and marketing of their products.
I'm extremely happy with the advice my financial adviser has given us but will continue to attend workshops and read books about these topics because the stakes are so high if the advice doesn't work out. "Pay Checks and Play Checks" has added to my learning and confidence that there is a structure and context that should be considered to confront all the risks that threaten each of our retirements.
A good clearly written book that mostly focuses on the place for annuities as the centerpiece of your retirement income plan. Annuities don't have to be high-fee or high commission. Shop around and get a simple lifetime annuity that will pay you a set amount for life. You can't outlive it, and will come out ahead if you live a long life.
For me, this book simply reinforced economic concepts I had already learned. But it also provided valuable new information and ways of articulating the facts. I would have liked to see a section of this book dedicated to how permanent life insurance can act as an asset replacement tool for the money used to fund a SPIA. Nevertheless, this book is full of great information.
While I think everyone should read this book, I think it's even more important for financial advisors to read it. I've come across many advisors who mean well, but have been trained to advise in a way that isn't necessarily doing what's best for the client. It makes sense when you think about it... other than insurance companies, most financial institutions make the bulk of their money by collecting YOUR money. Why would they spend time and money educating you on the phase of your life when you start taking that money back?
Do yourself (and maybe your clients) a favor and read this book.
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