There are a lot of books on retirement planning. I attempt to find ones that will cut through the clutter of confusion and help reduce the headache-inducing work required to get to the next stage of your life.

A recent article in The Washington Post, titled “Headache-free retirement planning,” considered “The Charles Schwab Guide to Finances After Fifty: Answers to Your Most Important Money Questions” by Carrie Schwab-Pomerantz with Joanne Cuthbertson.

The book’s authors say many people do not realize the impending reality of retirement until they are about age 45 or 50. If that sounds like you, then you are not alone. The Federal Reserve reported that many are not ready for retirement. In fact, some 31% of non-retired respondents reported having no retirement savings or pension, including 19% of those ages 55 to 64. The authors point out that about half of respondents reported giving very little or no thought to retirement savings. Those who have thought about it either do not have plans to retire, think they will keep working into retirement to pay the bills, or do not know how they are going to pay for their retirement.

While the book is geared towards the 50-plus crowd, there are pointers for all age groups, with a list of top 10 financial recommendations for every age. The tips are simple, but bear repeating: track your spending, make a budget, and reduce your debt.

This book is a great introduction to retirement planning. It will give you the groundwork to sit down with your estate planning attorney and decide on a strategy to put into action.

For more information about retirement and estate planning, please visit my estate planning website.

Reference: The Washington Post (September 5, 2014) “Headache-free retirement planning“