Spend 'Til the End: The Revolutionary Guide to Raising Your Living Standard--Today and When You Retire
by: Laurence J. Kotlikoff, Scott Burns
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Product Description:
Rich or poor, young or old, high school or college grad, this book, written by economist Laurence J. Kotlikoff and syndicated financial columnist Scott Burns, can change your life for the better! If you follow the advice in this book, it will raise your living standard (possibly by a lot), improve your lifestyle, and help you spend 'til the end. And it will completely transform your financial thinking, turning every bit of conventional financial wisdom on its head.
If this sounds like a revolution in financial planning, you got it. So do The New York Times, The Washington Post, The Wall Street Journal, USA Today, Time, Consumer Reports, and other top publications that have been featuring the authors' economics-based "consumption smoothing" approach to financial planning.
Spend 'Til the End substitutes economic wisdom for the "rules of dumb" that currently pass for financial advice. In the process it indicts the investment and financial-planning industry for giving most people saving and insurance targets that are much too high and then convincing them to invest in risky mutual funds and expensive insurance policies. The result is that most people are scrimping and saving during the years when they could be spending and enjoying their money -- and with no sure payoff.
Easy to read, this book is packed with practical and often shocking advice on whether to work, how to pick a career, which job to take, where to live, what sort of house to buy, how much to save, when to retire, which kind of retirement account to use, whether to have kids, whether to divorce, when to take Social Security, how fast to spend down your assets in retirement, and how to invest.
Rich or poor, young or old, high school or college grad, this book, written by economist Laurence J. Kotlikoff and syndicated financial columnist Scott Burns, can change your life for the better! If you follow the advice in this book, it will raise your living standard (possibly by a lot), improve your lifestyle, and help you spend 'til the end. And it will completely transform your financial thinking, turning every bit of conventional financial wisdom on its head.
If this sounds like a revolution in financial planning, you got it. So do The New York Times, The Washington Post, The Wall Street Journal, USA Today, Time, Consumer Reports, and other top publications that have been featuring the authors' economics-based "consumption smoothing" approach to financial planning.
Spend 'Til the End substitutes economic wisdom for the "rules of dumb" that currently pass for financial advice. In the process it indicts the investment and financial-planning industry for giving most people saving and insurance targets that are much too high and then convincing them to invest in risky mutual funds and expensive insurance policies. The result is that most people are scrimping and saving during the years when they could be spending and enjoying their money -- and with no sure payoff.
Easy to read, this book is packed with practical and often shocking advice on whether to work, how to pick a career, which job to take, where to live, what sort of house to buy, how much to save, when to retire, which kind of retirement account to use, whether to have kids, whether to divorce, when to take Social Security, how fast to spend down your assets in retirement, and how to invest.
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Customer Reviews
Average Rating:
Rating: 
- A must read for readers deciding when to begin social security
First, I should reveal I met Larry at a conference of practitioners and academics in New York City and was familiar with some of his thinking. As a fellow "number runner" I see great merit in computer based projections while also recognizing their limitations.Of course there are enormous differences in software and the quality of the person running the software.Larry running his own software and presenting us results is truly a treat.
Spend til the End's analysis of when to begin ... Read More
Rating: - Practical & more reality focused than most
Kotlikoff and Burns seem to get it right for most Americans.They discuss the folly of a single number for retirement e.g, you'll need 80% or 70% of your pre-retirement income to have the same standard of living in retirement.Most of the other reviews go into great depth about the consumption smoothing so I won't repeat that here.I like the use of many hypothetical examples showing the effect of financial decisions on differing household circumstances.The montra to diversify resources, not portfolio, ... Read More
Rating: - Engaging and Comprehensible on one of the World's Driest Subjects: Retirement Planning
Financial advice books in the past have left me with a vague notion that I need to save one million dollars before I retire, and by then I guess I'll know how to manage it. "Spend 'til The End" is much more in-depth and comprehensible. The initial chapters were so engaging that by the time the authors got to the nitty gritty, I was hooked, and willing to spend some time with them, going over retirement planning point by point.
Several concepts stand out and have given me a base for further research. ... Read More
Rating: 
- Take it with a grain of salt
Kotlikoff (an economist) and Burns (a syndicated financial columnist) offer an approach to financial planning that purports to resolve a lot of questions - how much do I need to save, what should I invest my money in, should I own a house or rent, etc. - based on one basic principle: consumption smoothing.
For readers who want to implement the recommendations, a computer program called ESPlanner is available that will do most of the work for them.The cost is minor in comparison to the fees and commissions ... Read More
Rating: - Retirement planning
A very well written and interesting book.I like and have used many of the ideas and techniques recommended by the authors.I have followed Scott Burns' columns in the Dallas Morning News for years.
This is a book that should be read by someone who is in their 30-40s to help them plan for a successful retirement.
- A must read for readers deciding when to begin social securityFirst, I should reveal I met Larry at a conference of practitioners and academics in New York City and was familiar with some of his thinking. As a fellow "number runner" I see great merit in computer based projections while also recognizing their limitations.Of course there are enormous differences in software and the quality of the person running the software.Larry running his own software and presenting us results is truly a treat.
Spend til the End's analysis of when to begin ... Read More
- Practical & more reality focused than mostKotlikoff and Burns seem to get it right for most Americans.They discuss the folly of a single number for retirement e.g, you'll need 80% or 70% of your pre-retirement income to have the same standard of living in retirement.Most of the other reviews go into great depth about the consumption smoothing so I won't repeat that here.I like the use of many hypothetical examples showing the effect of financial decisions on differing household circumstances.The montra to diversify resources, not portfolio, ... Read More
- Engaging and Comprehensible on one of the World's Driest Subjects: Retirement PlanningFinancial advice books in the past have left me with a vague notion that I need to save one million dollars before I retire, and by then I guess I'll know how to manage it. "Spend 'til The End" is much more in-depth and comprehensible. The initial chapters were so engaging that by the time the authors got to the nitty gritty, I was hooked, and willing to spend some time with them, going over retirement planning point by point.
Several concepts stand out and have given me a base for further research. ... Read More
- Take it with a grain of saltKotlikoff (an economist) and Burns (a syndicated financial columnist) offer an approach to financial planning that purports to resolve a lot of questions - how much do I need to save, what should I invest my money in, should I own a house or rent, etc. - based on one basic principle: consumption smoothing.
For readers who want to implement the recommendations, a computer program called ESPlanner is available that will do most of the work for them.The cost is minor in comparison to the fees and commissions ... Read More
- Retirement planningA very well written and interesting book.I like and have used many of the ideas and techniques recommended by the authors.I have followed Scott Burns' columns in the Dallas Morning News for years.
This is a book that should be read by someone who is in their 30-40s to help them plan for a successful retirement.
