The most recommended retirement books

Edmonton-based author Ernie Zelinski is probably best known for this self-published international bestseller.

Zelinski semi-retired at 30 after being fired from an engineering job. One of his first books was called The Joy of Not Working, and he later published The Joy of Being Retired: 365 Reasons Why Retirement Rocks—and Work Sucks!. But the one that really struck a nerve for FIRE proponents was How to Retire Happy, Wild and Free, subtitled “Retirement wisdom that you won’t get from your financial advisor”.

Zelinski sugar-coats the content with pull-out quotes and a few cartoons. As the back-cover blurb of my 2014 edition proclaims, “Retirement is the beginning of life, not the end.” It follows that Zelinski believes that the earlier you take Early Retirement, the better, and encourages readers to pluck up the courage to do just that.

To that end, his focus on frugality allows him to… show more.

I’ve always like the phrase “Work Optional” to describe the state of being financially independent enough that you don’t have to work for money anymore, but nevertheless choose to for reasons like having a purpose, or structure.

Work Optional is also the title of another fine American book on Financial Independence, bearing the subtitle Retire Early the Non-Penny-Pinching Way. The author is an American woman, Tanja Hester, who “retired” early at age 38, along with her husband Mark, who was then 41. I put the word “retired” in quotes because, as is usually the case with advocates of the so-called FIRE movement (Financial Independence, Retire Early), Hester didn’t actually retire to do nothing.

Generally, I find that when FIRE proponents say they “retired” at 30 or 40, what they really mean is they quit working as salaried employees for a corporation, to launch what amounts to an encore career built… show more.

Dana Anspach’s book on retirement planning is an accessible exploration of how to put together a retirement income plan.

She is a financial planner and well-respected retirement planning expert who was picked to create the retirement planning course for the Great Courses series. This book will help readers prepare their own retirement plans with confidence.

Pensionize Your Nest Egg, or PYNE as some readers call it, is a classic Canadian financial book by famed finance professor Moshe Milevsky and certified financial planner Alexandra Macqueen.

Its audience is primarily anxious would-be retirees who do not have the luxury of having an inflation-indexed, guaranteed-for-life Defined Benefit pension plan offered by an employer. In fact, the headline when I first reviewed the book, was “A Cure for Pension Envy.” Instead, its core reader may have lots of money in group RRSPs, Defined Contribution plans or 401(k)s that rise and fall with financial markets. Hence the subtitle of the second edition, published in 2015, is How to Use Product Allocation to Create a Guaranteed Income for Life.

In practice, this involves using a particular product – the life annuity – to make your nest egg more like a true DB pension. The authors go into some… show more.

This is the most concise book (just 45 pages) on investing and saving that exists, and it delivers valuable advice in a punchy, memorable style. It’s the first book I recommend to anyone who asks me to recommend a book with practical advice that will improve their financial lives if they follow what it says.

Real estate investing is where I got started, and is still one of my favorite ways to build wealth.

Hands down my favorite real estate investing strategy is house hacking! This book was written by a friend of mine, and teaches you how to house hack, so I like it 😊. 

The largest expense for most Americans is where they live. House hacking is where you buy a duplex, triplex, fourplex, or large single-family home and you live in one unit and rent the other units out—or in the large SFH live in one room and rent to roommates—so that your tenants can cover a large portion, if not all, of your living expenses. Sometimes you may even get paid to live in the home!)

When you eventually move out of that property it will cash flow, and you can rinse and repeat several times. All while saving the money… show more.

Since I write books about retirement, I love to read what others have written. Wes Moss’s book is fun, easy to read, helpful for retirees, and his research describes the ten most important habits for a “healthy, secure, and joyful life.”

My favorite coffee mug has this wonderful advice: “Live a Life You Don’t Need a Vacation From.” I find that Wes Moss’s book closely aligns with my own beliefs about achieving a satisfying, rewarding, and healthy retirement, and it provides a concrete framework to get there.

At last a book that tells the truth about investment and how it works. The most important thing is keeping down charges. They eat away at your money every month and only enrich other people. Don’t let them manage your money – trust the markets. There are exercises and worksheets to do. So it is not a casual read. But if you study it and work through it you will end up better off and have enough money for your future. Which is the true meaning of wealth.

This book takes a broader perspective and analyzes social security policy around the world.

It surveys the social security programs in each of the major areas of the world. It argues for social security pensions based on social insurance rather than on funded individual accounts. It also discusses other issues of importance in some countries, such as contribution evasion. It proposes ways of extending Social Security coverage to more workers.

There also are Japanese and Spanish editions of this book. Including the three editions, this book is one of the most widely cited in this field.

I like authors who back up statements with research. Ken Dychtwald, CEO of Age Wave, has been studying the Boomer generation for more than three decades, and uses his research to not only demonstrate how this generation has transformed retirement, but also provides important insights for those who work with, sell to, or are Boomers themselves. Virtually every page has a nugget of useful and applicable information.