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Title: You're Fifty--Now What?: Investing for the Second Half of Your Life by Charles Schwab, John Rubinstein ISBN: 0-375-41669-2 Publisher: Random House Audio Publishing Group Pub. Date: 26 December, 2000 Format: Audio Cassette Volumes: 4 List Price(USD): $25.95

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Average Customer Rating: 3.73 (11 reviews)

Rating: 2
Summary: NOT FOR EVERYONE!
Comment: This book makes financial planning over fifty sound so wonderfully simple and straight forward. However, as a counsellor both in business and life skills, I can assure you that many clients who sit across from my desk have no disposable income to plan or invest for their future. By the time they are fifty, many are no further ahead than they were twenty years ago and a good number are further behind. If you have been a single mother for the best part of your life, struggling just to pay the rent and put food on the table, "the working poor" with little or no child support, there IS nothing to "plan for your future." Your future consists of trying to survive day to day without any extras....period.

The book may be of value to those privileged individuals who have been fortunate to have had a lucrative career or a savings account at the local bank, but the book is certainly not written for everyone. As one woman said to me, "financial advisors, insurance, estate planning...the only thing I can plan is my grocery list - which brand of mararoni and cheese is going to be on sale next week." In this case the book serves only as a constant reminder of what the individual does not, and may never have. While the book does have merit, it is not one I could recommend to everyone.

Rating: 5
Summary: Welcome Resource!
Comment: Schwab's book provides solid and practical information for those of us who no longer can be called young no matter what the definition is. Unfortunately, helpful financial books that target Baby Boomers and older folks are in shamefully short supply! For readers who want another indepth look at the financial issues that face older investors, I'd suggest another excellent book-the Retirement Bible. Like Schwab's book, the Retirement Bible provides advise on recommended portfolio withdrawal levels and devotes an entire chapter to discussing in what order money should be withdrawn during retirement. Unlike Schwab, Lynn O'Shaughnessy, the author of the Retirement Bible, suggests that Roth IRA money should ideally be touched last. I definitely agree with her opinion and many financial experts do too. What I also like about the book is that she demystifies a lot of estate planning issues, which books written by attorneys hopelessly fail at. You can't go wrong getting either of these books.

Rating: 4
Summary: For Baby Boomers: Should be titled You're 60, Now What?
Comment: This is a book that everyone should have in their personal development library. Is it a great read or does it have cutting-edge insights? Probably, no. But wisdom is wisdom and doing what's right with your money is more a matter of principle than fancy strategy. If your strategy is too far removed from this book, then you're probably taking on far more risk than you should. I think that a lot more should have been written about wills and trusts for estate planning. That's an area that would have only taken another 10 pages, but would have completed the works and is something that everyone over 50 with bucks needs to know well.