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FEDERAL EMPLOYEE'S
RETIREMENT PLANNING GUIDE
Book Reviews
Contents
This "Retirement Planning" site is dedicated to providing
comprehensive and helpful information for those planning for or currently
enjoying retirement. This new book review section is targeted towards that end.
We will review books that we find helpful and informative for our readers and
site visitors and hope that you will find them enjoyable and most of all
HELPFUL.
The subjects will include finance, investing, health and
exercise, cooking, and everything in between that may be of interest to YOU. If
you find a recent book that you have read helpful let us know and we will review
it here.
PREPARATION is the key to a successful retirement and this site is
devoted to guiding you through the federal
retirement maze and includes information on benefits, general retirement issues,
and easy-to-use estate planning techniques. It was designed to help you think
about the entire picture and not just your annuity and when you can leave. There
is considerably more to retirement than meets the eye and this site will help
you focus on the critical issues that we all must address at this time in our
lives.
Dennis V. Damp
If you would like to
contribute reviews to our site please send a short bio and a color photo
(jpeg or gif format) if available including your federal service time to the
attention of Dennis Damp
(bookhaven@aol.com). Also send us the types of books that you would
prefer to review. We will assign reviews to volunteers as titles are
received from publishers. Reviewers will receive full credit for all
contributions. Bookhaven reserves the right to reject any submissions that
we feel inappropriate and to edit all copy received prior to posting.
Book Reviews
Have Articles Sent to Your Email Address
June 25, 2008
Live Your Road Trip
Dream, Travel for a year for the cost of staying home
By Phil & Carol White
Review by Nancy Holston
 Need
a little encouragement for that road trip you’ve been talking about but haven’t
seriously figured out how to pull off? Then this book is for you! If you are
only considering a month on the road this book is an excellent resource, but if
you want to take a year or more off to see this great country this book is a
must. In fact if you only plan a month long adventure you might find yourself
considering a longer trip after just a few chapters. This is a practical guide
for how to make it happen, whether you are a retired couple or a family with
kids. The White’s provide lessons learned to help you avoid costly mistakes.
They start with your “rig” to make sure you’re traveling in a vehicle that meets
your needs for how and where you plan to travel and move on to planning for the
financial needs of your road trip as well.
Phil and Carol share their fun times, their miscues and accidents and tell
you how they managed to handle the obstacles and adjust their plans to make
those just a minor bump in the road. Don’t worry; you can handle anything that
comes along. This book will ease your fears and give you the confidence to make
the dream a reality.
Phil & Carol chose to use AAA Road maps and not use GPS technology. I’d
recommend exploring a GPS resource. I do agree with using maps to do route
planning. GPS technology today will help you deal with the unexpected, detouring
around road construction, or locating emergency resources such as the nearest
service station, hospital, or even a rest stop. It also will help you estimate
your travel time for the day. If you have a goal for the evening stay but don’t
want to spend more than 5 hours on the road, it can help you adjust the day’s
travel plans. It will also help you locate a restaurant or lodging when you’re
hungry or ready to rest.
The appendices provide tools and check lists to help you cover all your
bases. While some information is dated (who can keep up with gas prices these
days) it still provides the tools to get a realistic estimate for all your costs
and budgeting your funds for your adventure, including fuel. They suggest
several web sites that have additional information for any specific needs you
might have. Also visit their Web site at http://roadtripdream.com for road trip planning tools and other helpful
information. You’ll find everything you need in
this book to make your road trip
dream a reality.
Order
Live Your Road Trip Dream: Travel for a Year for the Cost of Staying Home
January 15, 2008
Ahead of Your
Time, A complete Guide to End-of-Life Planning
By Dick and Sue Coffin
ISBN: 978-0-9788439-0-8, Perfect Bound Paperback,
September 2007, $14.95
Review by Dennis V. Damp
 Retirement
planning encompasses many facets, some that we enjoy exploring such as potential
vacation spots and new adventures, and others that are a necessity yet many
avoid altogether − often
leaving their loved ones in a panic. Most dread estate and the ultimate
End-of-Life planning that can only make it easier for those left behind. My
retirement planning site at
http://federaljobs.net/retire deals with most pre and post retirement issues
with one exception, the ultimate end-of-life planning. That is the one hole left
uncovered so to speak.
This is where Dick & Sue Coffin come in, yes their real
name. Their new book, Ahead of Your Time; A Complete Guide for End-of-Life
Planning provides the information you need to effectively plan for the
inevitable. If you have a small estate, this one book alone, with a simple will
and the use of In-Trust-For or Pay-on-Death (POD) account designations to avoid
probate, is all that you need to set up a basic estate plan. This easy to read
8" by 8.5" 101 page book covers everything from preplanning your final
arrangements, writing the obituary, keeping records, arranging services, legal
aspects, to financial matters and commemorating the loss. All this in one
compact easy to read reference guide plus 30 pages of helpful data collection
forms for all aspects of your plan. Yes, it takes a commitment on you and
your loved ones part to sit down and talk about this sensitive issue. However,
you and your loved ones will be far better off taking care of business before
its too late.
Dick & Sue explain the process and thus reduce the fear.
They spent 28 years in the monument business and have seen too many families
torn apart by difficult decisions that must be made at the hardest of times.
They've seen too many people spend lots of money trying to do "the best" for a
loved one, who might have opted for simplicity.
Don't leave your loved ones in a lurch. This excellent
book will help to ease the pain at an unbearable time and insure that your loved
ones wishes are honored. I added this book to my reference shelf next to another
great planning resource, Planning Your Estate
that I mentioned many times on my
retirement planning site.
Order
Ahead of Your Time: A Complete Guide for End-of-Life Planning
January 19, 2007
All About Index Funds; Everything You Need
to Know About Index Funds, Including:
- The advantages of index funds over other mutual
funds
- How to use index funds and ETFs for effective asset
allocation
- Information on new index funds: oil, gold, and
currencies
By Richard A. Ferri, CFA
ISBN: 0-07-148492-2, Perfect Bound Paperback, January
2007, $18.95
Review by Dennis V. Damp
 At
the start of the year, I typically spend a week or so evaluating investments and
balancing my accounts. I also search for new investment opportunities, primarily
scouring financial data from a wealth of resources looking for undervalued
stocks and mutual funds. Throughout the year I spend most Sunday mornings
reviewing investments. Yes, it takes a lot of time and research to actively
manage investments, especially when you invest in individual stocks, bonds, and
mutual funds. Just imagine how expensive it is for large actively managed mutual
funds to keep on top of their investments, buy and sell equities and bonds, and
maintain large research staffs to assist the highly paid fund managers!
There is an easier way, and for many reading this
column, the only way to safely invest and not pour your heart and soul into the
process and that WAY is through Index and Exchange Traded Funds (ETFs). With
Index Funds you will closely match the performance of major stock indexes like
the S&P 500, the Dow Jones Wilshire 5000 Composite Index or any one of a
thousand other index funds that track everything from international stocks and
bonds to you name it.
This excellent resource gives you the scoop on these
lucrative low cost investments and explains why you too should be in index funds
rather than chasing the top performing high cost equity mutual funds. The beauty
of Index funds is that you don’t have to be all that knowledgeable about markets
or investment lingo. All you need to know is included in this book and you can
get started with a safe, low cost, high performing index fund mix quickly using
their recommended "Life-Cycle Index Fund Models" presented in
Chapter 15. They have model index fund portfolios for "Early Savers" ages 20 to
39, "Mid-Life Accumulators" ages 40 to 59 and for "Preretirees and Active
Retirees" ages 60 to 79.
Chapter 4 states that, "Exchange Traded Funds (ETFs) are
Index Funds that trade like stocks." Unlike Index Funds you incur additional
expenses such as commissions and trading spreads. Investors like the fact that
index ETFs trade like stocks and most new index funds are now being introduced
through ETFs. I personally like the simpler Index Funds however ETFs do have tax
and other advantages that investors can take advantage of. This book provides a
comprehensive overview including their history, advantages, and disadvantages.
If you are apprehensive about investing, and most are,
this is the one of the safest ways to achieve high returns with minimal risk.
When I say high returns I’m talking about percentage gains on target with the
market averages for a year. For example, the Fidelity Spartan Total Market Index
Fund’s (FSTMX) most recent one year return was 14.6% with an average return of
8.1% over the past 5 years. That is more than double the average return that you
would have made in Certificates of Deposit, Money Market Accounts, or Savings
Bonds during that same period and the management fee for this fund is only .10%.
Compare that management fee to the average stock mutual fund management fee of
1.5% plus sales commissions (loads) that many managed mutual funds charge. The
Fidelity Spartan Total Market Index Fund tracks the Dow Jones Wilshire 5000
Composite Index, a broad market index that offers returns that are very close to
the overall domestic stock market return each year. The model portfolios
diversify the risk even more by adding index or ETF funds for international
stocks, and fixed income including inflation protection investments.
Overall I rate
All About Index funds a buy for a number of reasons. First, it is thorough
and comprehensive. You don’t have to read every chapter, only the ones that
tickle your fancy. You will learn about Index funds, ETFs, indexes opposed to
markets, tax advantages, managing your funds, sample portfolios, and much more.
A valuable reference for those who have felt left out of the investment arena
and want to grow their nest egg without the burdens and worry that actively
managed accounts require.
Order
All About Index funds
Savings Bond
Advisor;
How U.S. Savings Bonds Really Work With Investment, Tax, and Estate
Strategies
By Tom Adams
ISBN: 9-9760645-2-9, Perfect Bound Paperback, November 2006, $24.95
Review by Dennis V. Damp
 I
thought I knew about everything I needed to know about savings bonds until I
read this easy to read and highly informative guide. Many Feds accumulated a
good number of savings bonds over the decades and this book pretty much tells
you when to hold them, when to fold them, and everything in between. You will
discover how Savings Bonds can protect you from the risk of default and
inflation plus Adam’s explains their many tax advantages.
You’ll learn the A, B, Cs of Savings Bond investing including how to take
advantage of the new online Treasury Direct program that allows you to buy and
sell your bonds online. This book covers everything from how to register your
bonds based on your personal situation, change registration if necessary, track
your bonds and interest accumulation, what to do if your bonds are lost or
stolen, investment techniques, annual purchase limits, and the differences and
advantages of E and I bonds.
I read this book in one sitting skipping several sections that didn’t apply
to my personal situation. The November 2006 version includes Savings Bond E, I
and H bond interest tables in Part IV. Value tables are also located on the
author’s web site at
www.Savings-Bond-Advisor.com. The author also demonstrates the excellent
"Savings Bond Wizard" that I’ve used for years that is available on
Treasury Direct. Adams walks you through data entry and presents actual
screen views in the book to help you understand the process and enter your
bonds. After you enter your bonds you can print out reports that show total
value and accumulated interest for every bond that you own.
This indispensable guide explains the Savings Bond program in detail and
their versatility and value to the average investor. Did you know that you can
partially redeem large denomination bonds or that the total amount that any one
person can invest in Savings Bonds in one year is $120,000! That’s just
two of many things that I highlighted in this book for future reference. You
will learn the best time to sell and buy bonds, whether or not you should buy E
or I bonds and why, how to defer taxes, the tax advantages, and how to use them
for your children’s education. Comprehensive charts show the advantages of
Savings Bonds over traditional CDs, Money Market accounts, and other
investments. You will also learn that I bonds outperformed the S&P 500 index
since their inception in 1998.
An excellent primer for anyone who owns bonds or is exploring investment
options. Many financial advisors recommend liquidating your savings bonds and
investing the proceeds in the market. Before you sell your bonds READ THIS
BOOK. Many of the disadvantages that investment advisors warn you about can
be offset as Mr. Adams so precisely explains in Savings Bond Advisor. I
highly recommend the
Savings Bond Advisor to anyone who owns or is thinking of owning
savings bonds.
Order
Savings Bond Advisor
Drive I-95 Exit by Exit Info, Maps,
History and Trivia
by Stan Posnar and Sandra Phillips-Posner
ISBN: 1-894979-99-0, Laminated Lay Flat Spiral Bound Cover, October 2005,
$22.95
Review by Dennis V. Damp
 If you live on the East coast or plan a visit this book is a wealth of
information for anyone traveling from Boston to Florida and back. Full of
valuable and helpful information for each exit along the way. You will find
everything from mileage charts, rest stops, attractions, restaurants, hotel and
motel chain toll free numbers, local radio stations identified by genre,
campgrounds, auto mechanic listings, golf courses, including journal pages and
expense charts. What really pulls this all together are the state-by-state and
exit-by-exit summaries that include historical references, local lure, museums,
shopping, recommended B & B’s, malls, and things to keep everyone occupied.
The full page color charts are visually attractive and list most of what is
located at each and every stop along the way. It is easy to plan your trips
around your favorite restaurants, camping sites, motels, and attractions and you
can annotate your comments in the journal or on the charts. I highly recommend
this book to anyone traveling the I-95 corridor.
I intend to use this book when we take our next trip to the Carolinas and
Florida. It is an excellent tool for those who like to plan their road trips and
take advantage of the many attractions along the way. Instead of blindly going
south or north on the I-95 corridor "Drive
I-95: Exit by Exit Info, Maps, History and Trivia, Third Edition" will keep your eyes wide open
to the possibilities along the way.
Available at bookstores nationwide.
Order Now (Click on the following link)
Drive I-95: Exit by Exit Info, Maps, History and Trivia, Third Edition
Dennis V. Damp
Editor of "Retirement Planning for Federal Employees"
http://federaljobs.net/retire
The Fit Traveler (Senior
Edition) by Kari Eide & Lisa Mueller
ISBN: 1-929170-25-4, Laminated hardcover spiral bound, November 2006, $17.95
Review by Dennis V. Damp
 This
complete exercise travel kit comes with all equipment necessary to perform the
routines — a stretch band is packaged in a convenient book cover pocket. I would
have titled this book "The Fit Senior" Traveler Edition. I found it
refreshing to say the least and I already incorporated several of the exercises
into my pilates workout. One of the primary benefits of "The Fit Traveler" is
that if gives those over 50 a realistic exercise program that is very easy to
adopt and implement even for those with hectic life styles. This book, along
with walking 15 to 30 minutes every other day, is a GREAT way for those over 50
to regain their mobility, flexibility, and strength... PLUS everything you need
is included!
Self help books often take too much time and type to get to the heart of the
matter. That isn’t an issue with "The
Fit Traveler: Senior Edition." It quickly
introduces you to their program on page one and they don’t stop until you finish
this book on page 52. You can read this book in one sitting and in most cases
you are doing the exercises the same day. All but 4 of the exercises are
performed standing or sitting, a relief for those with back or knee problems.
The beauty of the exercise program is the ease of implementing the exercises
into your daily routine and the fact that each exercise is presented with
photographs of actual seniors performing the routines. I found the exercises
expertly outlined, easy to understand, with plenty of photos to properly
complete them.
The Fit Traveler is bound with a unique spiral bound hardcover that lays flat
so you can view the pictures while performing the exercises. A sample home
workout routine is offered on page six to guide you through the week and
incorporates 15 minute cardio workouts at the beginning of each exercise period.
They also encourage warming up with five minutes of stretching exercises. A
workout tracking form charts your progress and you will find helpful diet tips
and words of wisdom close out the book.
Most of the exercises advise repeating them until fatigued. I would suggest
moderation and if you haven’t been active or are out of shape only perform a few
repetitions (within your comfort zone) of each exercise for the first week or
two. Then add reps as you build strength and stamina. You may also want to
purchase different strength bands at your local sporting goods store to add to
your workout. Lighter bands are also available if you find the band supplied
with the book too hard to use. Exercise bands are made from latex or rubber so
if you have allergic reactions to these products proceed with caution.
All in all The Fit Traveler Senior Edition is a MUST READ for those who want
to get in shape, stay in shape, and for those who want to play with their
grandchildren pain free. Many loose flexibility and strength as they age. The
Fit Traveler can help you maintain your fitness easily and without a big
investment in specialized equipment. This book along with proper nutrition,
walking, and maybe adding some light hand weights should be all you need to stay
fit and flexible throughout your life.
(Order by calling 1-800-963-0368 or visit their web site at
www.thefitnessboutique.com) Also
available
online at Amazon.com.
Dennis V. Damp
Editor of "Retirement Planning for Federal Employees"
http://federaljobs.net/retire
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