Living Well, Saving for Life: A Guide To Creating Wealth on a Modest Income by Neil Chodorow is just what it says in the title, a guide about how to retire. It can be classed as a sort of financial textbook as well, as it provides lots of general information about the types of financial choices that American’s make most every day. It gives a general breakdown about many financial terms and items that surprisingly, most Americans have very little knowledge about.
The book begins with a breakdown of all of the issues that can affect retirement and prevent people from saving for retirement. These are items that most people probably face everyday; location, health, resumes and repayment, and responsibilities for others. Most people experience the high cost of living or health insurance – not to mention the high cost of caring for others. The book also gives blanket information about hot button issues like mortgages and the cost of completing your education. That being said, there are a lot of numbers in this book. Despite it’s overall accessible content, readers might find themselves a little lost in the statistics and percentages presented (though the author does a good job of providing tables to attempt to display the information in a more palatable fashion).
The author doesn’t spend a whole lot of time delving into why Americans approach money in the way that they do, though there is a great deal of sensible advice – it doesn’t really approach the question that even the most financially educated Americans are sometimes poor at making financial decisions or saving money. Some statistics point out that having an education of your finances does not necessarily influence how you borrow or repay money. Still, the information that is presented in this book is information that seems to be sorely lacking for many people, and it lays out a good deal of difficult terms (mortgage, APR, interest rate) in a manner that is easy to understand and digest.
[signoff predefined=”Sponsored Review Program” icon=”book”][/signoff]