"Paul Merriman's new book is a rich and meaty guide to achieving real retirement security. It's full of wise, easy-to-follow advice that will stand the test of time."
– Knight Kiplinger, Editor in Chief, Kiplinger's Personal Finance Magazine and The Kiplinger Letter
"Read, Live It Up! Not only does Paul Merriman know the secret to making your money work as hard as you do, he loves helping people achieve their goals and dreams."
– Paul B. Farrell, author of The Millionaire Code, The Winning Portfolio and The Lazy Person's Guide to Investing
Live it Up Without Outliving Your Money! :
• Allows readers to tailor a financial plan for retirement that takes into account the amount of risk they’re willing to tolerate
• Provides multiple strategies for withdrawing money once in retirement while also building an estate for children and other survivors
• Exposes the marketing tricks and emotional ploys perpetrated by financial institutions and the personal finance media that keep investors from making the best decisions – and provide real-world examples of these deceptions
• Motivates readers to take the first steps to change their financial situation, which is the most difficult part of the strategy
• Includes a dozen worksheets to help readers grapple with retirement planning
What You’ll Learn
Many people struggle with the realities of retirement. This revised and updated edition of Live It Up Without Outliving Your Money! will show you how to make your retirement less stressful and more successful.
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Going beyond the basic wisdom of passive investing in index funds, Merriman explains how to carefully optimize a portfolio to achieve the same or greater gains with even less risk.
From The Publisher
Completely expanded and updated, Live it Up Without Outliving Your Money! Second Edition is the financial roadmap that people are looking for. Based on the author's experience in the financial services sector since the mid-1960s, including more than 30 years as an investment advisor and money manager, this plain-talking book gives readers simple strategies to add between $1,000 and $10,000 to their monthly income in retirement, and without taking any of the dumb risks of the past.
This reliable resource motivates readers to take the first steps to change their financial situation; presents multiple strategies for withdrawing money during retirement; and exposes the marketing tricks perpetrated by financial institutions. This book also includes added focus on newer issues such as ETFs, REITs, estate planning, IRA withdrawals, and updated allocation strategies.
An easy primer for saving/investing for retirement By Sue "voracious reader" (Florida)
I thought this book was excellent in teaching how to invest in a diversified manner within your risk tolerance. It also explains risk extremely well - and how to invest based on your risk tolerance. Risk is not just according to your age - it is according to your own level of "being able to sleep at night". All in all, well worth the money to buy and educate yourself in an easy-to-understand manner. Yet has very complex issues that help you understand how to invest.
Five-Star Review of overall subject matter By John Sawyer (Milwaukee, WI)
One of the best references on the subject of retirement & Investing I have read so far. Step by step method for securing income during retirement. Introduces a number of strategies Investors don't want you to know about. I have recommended this book to several of my friends who are also close to retirement. For those close to retirement, it should be front and center in their libraries. A lot of facts backing up recommendations. Short read.
Primer on Risk Controlled Retirement Investing By L. Masonson
Paul Merriman through his information-packed retirement workshops, fundadvice.com website, and Sound Investing Radio Show has helped thousands of investors get on the right track to realizing their investment and retirement objectives. Merriman has leveraged his 40 years of investment knowledge and educational efforts into a readable, easy-to-understand guide to risk-controlled retirement investing. Most investors have no clue as to what to do to become successful in the long run.
This book will help them get there. As Merriman has said, "Investing is a journey and you need a roadmap." That is exactly what he provides. As Merriman points out investors need to become defensive investors and have a plan of action, otherwise they probably will not reach their goals. He urges investors to put their investments on automatic pilot. As a long-time investor, author and financial advisor, I couldn't agree more.
For investors who want to invest their hard-earned money on their own, this book provides a blueprint to achieve success, with all the steps necessary to build a solid, diversified portfolio. Merriman remains one of the top investing educators in the country. I highly recommend this book.
Best Book on Investing for Retirement By Mr. Scott C. Harrison
Investing is like driving down a highway with the windshield blacked out and only the rear view mirror to guide you.
Paul Merriman's Live It Up Without Outliving Your Money! is a comprehensive road map to a financially secure retirement. He shows how to determine how much money you'll need to retire when you want, in the way that you want; how to establish how much your investment portfolio needs to be worth when you retire, and he shows you the kinds of investments that will give you the returns you need to reach your goals. Then he explains how to choose the right distribution plan to provide both the income you need in retirement and the peace of mind that you won't run out of money.
You'll learn how to construct and maintain a "perfect" portfolio tailored to your personal tolerance for risk, and how to organize your finances so you don't have to spend a lot of time on them.
Based on Nobel Prize-winning research, Merriman's investment strategies combine passively managed no-load asset class mutual funds to create low-cost, tax efficient portfolios with worldwide diversification. "What investors need most is a strategy with enough power in good times to generate positive returns, coupled with enough protection in bad times to keep them from bailing out in discouragement," says Merriman. He discusses the psychology of successful investing and managing your emotions so you don't sabotage your own plans.
Using many charts and graphs, he makes complex subjects easy to understand, and his passion and enthusiasm are motivating and inspiring.
Live It Up! is really a book everyone should read. Highly recommended.
Easy to Read and Excellent Advice By Dale C. Maley VINE™ VOICE
I found Merriman's writing style easy to read. He does an excellent job of covering the basics of investing including asset allocation. Overall, an excellent book.
Confused no more By Calder Benson (Petrey, GA)
With all the fund choices available in my 401k, I was in a real quandry until I read this book. I had no idea that by combining specific "non-correlated" index funds, I could actually increase my investment returns and at the same time reduce volatility and risk. We've given my wife's IRA a makeover and started my son off on the right foot with his new Roth IRA as well. The author does a nice job explaining how and why asset allocation works, and it was easy to find my own risk comfort zone in the tables provided. I recommend this book to anyone who has a 401k or an IRA.
Understanding the importance of Asset Classes By Inveterate Reader "Charlie W" (Newcastle, WA)
This book, written by a money manager with 40 years of experience in the field, makes it crystal clear how diversification using asset classes can increase your return while reducing risk. It offers fundamentally sound advice while rejecting the "get rich quick" mentality. If you want to sleep better when you retire, read this book.
Well Worth the Investment of your Time and Money By M. Giannetto (Monmouth Junction, NJ)
Merriman has written a very good book on investing. You will not be disappointed.
It is a relatively easy read as well. I think his advice is quite sound. While he is more aggressive as an international investor than I, he backs up his views with data (hard to argue with the facts). He also provides additional information on the web (that is a nice bonus). I highly recommend this book to anyone serious about investing and for anyone wanting to know how to set up an investment portfolio to sustain themselves financially for the rest of their lives.
Well done, Paul!
I retired early 2007 and just prior to that began reading some books on retirement.
I happened to pick up your book "Live it up without Outliving Your Money" although I had never heard of you. About that same time, we were trying to figure out how to invest in retirement and with whom. Up to that time we had our after tax investments with Ameriprise, a company 401k which would need to be converted to IRA, and a tax-deferred excess deferral program which would be taxed in its entirety.
I knew nothing about investments, Ameriprise statements were confusing, and during my work years I left it up to the advisor to make investment decisions. Before reading your book, I had no clue what "asset allocation" meant. However, your book was understandable and just made sense to me. We used it in interviewing approx. eight advisors, ranging from active to passive, from broker to mutual fund types, and from high expense ratios to low. You were so high onDimensional Fund Advisors that I included two fee-only DFA advisors and ended up choosing a DFA advisor. Because of your book, and our DFA advisor we bought into the index buy-and-hold philosophy and did not get nervous during the down market which followed soon after we got all our monies converted.
In cleaning out old books last week, I came across yours and decided to re-read it. After five years in retirement, it made even greater sense to me the second time around. I was amazed at how accurately your book portrayed our retirement experience. I got online and noticed you have an updated 2008 version and I plan to read that also.
Just wanted to share our experience with you and tell you how much we appreciate you and your book. Thanks to you we have an advisor that we love and trust and two mutual fund companies (DFA and Vanguard) that are cost efficient, work hard for us, and allow us to be tax efficient. As a result, we feel comfortable that we can "Live it Up without Outliving our Money"!