Books and Dvds

Money for Life

Money for Life

Savvy guidance for some of the most crucial financial decisions you’ll ever face. Money for Life can help make sure your retirement nest egg lasts as long as you do.

Jon Peterson, author of Social Security for Dummies

If you don't have a traditional pension and you don't want to outlive your assets, then put Money for Life on your 'must read' list. Steve Vernon's book will help you learn how to convert the assets in your various retirement accounts into a paycheck,
into money for life.

Robert Powell, editor, MarketWatch’s Retirement Weekly


Money for Life answers two of the most important financial questions you’ll ever face:

“How much money do you need to retire?”

“How can you generate reliable income from your retirement savings that lasts for the rest of your life, no matter how long you live and no matter what happens in the economy?

With the decline of traditional defined benefit pension plans, addressing these questions is one of the most important retirement planning challenges facing boomers today. Many surveys show that older workers and retirees are struggling with these questions and need help.

Money for Life provides this help by describing in simple terms the three methods for generating a “retirement paycheck” from retirement savings.  It explains the pros and cons of these methods, as well as their many varieties and permutations, to help soon-to-be retirees understand just how to generate the money they need.  A critical factor is the amount of the retirement paycheck, which can vary widely depending on the method chosen to generate retirement income.  This understanding will remove the mystery and frustration around this critical retirement planning decision. 

Money for Life addresses the concerns of a wide range of people who are planning their retirement. Part One outlines specific action steps and describes the various retirement income generators in an easy-to-understand manner, using charts, illustrations, and examples. It also introduces the Money for LIFE™ retirement income rating system to help you choose the solution that works best for you. Part Two serves as a resource for readers who want more details on the methods for generating a retirement income and on specific retirement tax and insurance issues.

Money for Life delivers these powerful messages:

  • It’s OK to spend many hours doing your homework before making retirement planning decisions. These are the most important financial decisions you’ll make for the rest of your life.
  • Don’t spend without planning, which is what many people do, and is a sure way to go broke in retirement. Instead, plan your spending, so you’ll have income for the rest of your life.
  • Be careful when selecting a financial advisor to help you generate retirement income. Many planners don’t have the necessary expertise or your best interests at heart.

“Workers and retirees usually don’t learn about the variety of viable methods to generate a retirement paycheck,” says Steve.  “Many people only hear about one or two methods, often from financial planners who have a financial stake in their decisions.  Americans want choice in most everything they buy, and that’s particularly important for their retirement security.”

Money for Life provides critical help for boomers who are approaching their retirement years as well as their financial advisors, and for employers and retirement plan sponsors who want to help their employees and participants better prepare for retirement.

Here’s the cover, Table of Contents and the Introduction of Money for Life. Click to view PDF. 

Money for Life

Contact us for bulk sales or if you would like to have Steve deliver a presentation on Money for Life to your employees or members. Possibilities include in-person, webinar, teleseminar, or online tutorial. 

 

Praise for Money for Life

The decline of traditional pensions, and the reliance on IRAs and 401(k) accounts means that growing numbers of Americans will face a major challenge receiving enough income in retirement. Steve Vernon offers answers in this book, with sensible, specific advice on a range of ways to pay yourself in retirement.

Mark Miller, retirement columnist and
author of The Hard Times Guide to Retirement Security



As defined contribution plans and IRAs become an increasingly important part of retirement wealth in this country, it is essential that today’s workers understand the various techniques available to convert the account balances to retirement income.

Steve Vernon has done a magnificent job of drawing together in one authoritative source the benefits and potential limitations of the various strategies that should be considered by individuals.

Having taught university courses in retirement planning at the undergraduate and graduate level for 28 years, it would have been a delight to have this type of material as one of the required readings. Benefit managers will find this material extremely useful with respect to the explanation of the behavioral challenges facing their employees and the common misconceptions that need to be dispelled to assist in the decision making process.

Jack VanDerhei, research director
Employee Benefit Research Institute, editor Benefits Quarterly



Today's retirees and pre-retirees face multiple challenges, including low interest rates, volatile equity markets, and the logistical headaches of turning an investment portfolio into a stream of income that will last for the rest of their lives (by viola sapp). Money for Life confronts those challenges head-on, using clear examples and straightforward language to coach retirees and pre-retirees on generating the income they need without taking extreme risks. It’s a valuable bookshelf addition for retirees seeking guidance on crafting a financial plan they can live with for many years.

Christine Benz, Director of Personal Finance, Morningstar, and author of
30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances


This is a great book. As an actuary, I have been very concerned that many people do not understand the importance of regular lifetime income, the risk of running out of money, and the options for creating lifetime income. The decision involves trade-offs, long term issues, and working with a range of solutions that are not easy for the average person to understand or implement. Steve Vernon has done a wonderful job of explaining the options, providing information on implementation, and cautioning about more expensive options.

Anna M. Rappaport, F.S.A., M.A.A.A., Chair, Society of Actuaries Committee on Post-Retirement Needs and Risks, and Past President, Society of Actuaries



Money for Life is for retirees and pre-retirees who have a real danger of running out of money in retirement. Steve’s approach addresses the insufficiency of using only a systematic withdrawal method for people with average retirement savings, where managing for retirement specific risks must take precedence over investing strategy. Thank you for providing this actionable approach to help people make informed retirement income decisions!

Betty Meredith, CFA®, CFP®, CRC®International Retirement Resource Center

How will you pay your bills in retirement—especially if you live a long, healthy life? Steve Vernon’s amazing Money For Life provides the answers you need.

Steve shares a lifetime of financial expertise in plain, easy-to-read English. Learn how to build your RIGs (Retirement Income Generators) to last, and never worry again about out-living your money. Follow Steve’s Five-Step System to financial peace of mind. Anyone wondering how to convert a retirement nest egg into a lifetime stream of paychecks needs this book!

Andy Landis, author of Social Security: The Inside Story, and When I Retire



Steve’s book asks and answers three critical questions:
When can I retire? How much do I need? How do I make it last for my lifetime . . . 20 years, 30 years or more? The book is easy to read and practical. And, importantly, Steve has the experience to be authoritative . . . and brings an unbiased, problem-solving approach to the reader.

Fred Reish, partner at Drinker Biddle & Reath, chair of their ERISA Team for the Financial Services Industry


Steve Vernon's Money for Life is a terrific resource for those of us who are looking for information and guidance to help us manage our 401(k) and IRA money to last for the next twenty or thirty years. Vernon, an actuary, provides a step-by-step retirement strategy to help figure it out. Even if you have a financial planner you need to know enough to navigate through the complicated choices that will have to be made to create a retirement paycheck. Women, in particular, need to pay close attention to Money for Life as they are most vulnerable to longevity risks and running out of money.

Cindy Hounsell, President, Women's Institute for a Secure Retirement, (WISER)


Money for Life is an excellent primer to help you prepare a well-thought-out retirement plan. Vernon touches all the right bases, making sure that you ask the right questions including: How much money do you need in retirement? How can you generate reliable income from your retirement savings that lasts for the rest of your life? When should your retire? He not only asks the questions, he teaches you how to find the best solutions, given your own unique situation. If you’re looking for cookie cutter solutions, you won't find them here. But you will learn how to find the solution that works best for you. Vernon will show you how to carefully plan for retirement.

Larry Swedroe, Principal and Director of Research for the Buckingham Family of Financial Services, and author of Investment Mistakes Even Smart People Make and How to Avoid Them


Money for Life is consumer-focused and deserves to be widely read. It provides a balanced discussion of systematic withdrawals, annuities, or some combination, without a sales pitch for either approach.

Francois Gadenne, Chairman and Executive Director,
Retirement Income Industry Association (RIIA)

 

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