Failure is NOT an Option: Creating Certainty in the Uncertainty of Retirement

Ten thousand baby boomers reach retirement age every day. More than half of new retirees say that they were not ready when they got there, leading to what has been called the greatest retirement crisis in history. Failure is Not an Option: Creating Certainty In the Uncertainty of Retirement was written by financial planner and retirement expert David Rosell to combat the immense lack of resources for knowing what to do when retirement actually hits.Although arriving at the top of the mountain is considered by many mountaineers to be one of life's greatest accomplishments, I can tell you first hand that summiting is not the ultimate goal for climbers. They know that 80 percent of climbing accidents and deaths occur on the descent. With this chilling statistic in mind, they will tell you that their objective is to reach the summit and get back down alive to see their family and friends. They understand that the second half of their journey presents the greatest risk and requires the most planning. The same can be said for the second half of one's financial journey. For years, people have focused intensely on accumulating enough assets (i.e. climbing to the top of the mountain). However the biggest risk facing retirees occurs during the second half of their financial journey, once they retire and begin to live on their retirement savings (i.e. climbing back down the mountain). This is also the phase that requires most of the planning and entails most of the risk. Retirees need to come down the other side safely-no matter what the future brings. The day you start taking money out of your portfolio and open the income valve to your 401(k) or IRA, all of the rules change. Not only are you no longer adding to your nest egg, you will need to make your money last for a possible 25 to 40 years.We all know that there are endless books on how to accumulate wealth and how to get out of debt. However, few resources teach what to do once you have reached the top, even though you are faced with unique and potentially devastating risks as you begin the second half of your financial journey. This book was written to fill that gap. Through an unexpected melding of travel and family stories coupled with financial survival tips, Failure Is Not an Option will lay out the eight fundamental risks every retiree faces and help you create more certainty in the uncertainty of retirement. In the process, it will help you achieve far greater financial peace of mind, since-just like climbing a mountain-those who recognize and address these risks are most likely to safely and successfully complete their journey.Charles R. Schwab, Jr. sums up the the book with his quote "If you're at or near retirement, this is a must read. Failure Is Not an Option provides a compass for making the most of the second half of your financial journey. After reading David Rosell's book, you'll want to explore all that life has to offer."