This one sat on my shelf for a while, probably due to a concern that I might have to change my mind on something if I read it!

Well, just because something is unpleasant to consider, doesn’t mean it’s wrong.

Besides, I can handle bad news.

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Fortunately, there wasn’t much bad news inside this book and it was an excellent read.

Takeaways…

Nearly everyone will be working into their 70s, at least part time. This is a result of success, not failure.

1. Success in following a healthy lifestyle and benefitting from modern medicine => much longer lifespans.
2. Success in financial well being => implies our baseline spending at 50, 60, 70… is higher than anticipated.

A working life of 50+ years implies:

• We will be technically out-of-date before we’re halfway done!
• Multiple careers, unexpected transitions, continuous technical education
• Start with something the enables you to get paid well on an hourly basis and become world-class in a niche market
• If you spent your early career not doing a whole lot then you still have many decades left in your working life. Hit the reset button and get yourself educated without borrowing a ton of money.

Despite “retiring” 3x (!) since my 30th birthday, I’m still working part-time. I had been expecting this to end at some stage. This is not going to happen, and I shouldn’t wish for it to happen.

I should be on-the-lookout for attractive part-time employment and training myself for my next career(s).

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As you’d expect from a bestselling personal finance book in its 7th edition, there are excellent sections:

• Six self-assessment questions (p 80-81)
• Living under your means as a form of savings (p 161)
• Annual personal review questions (p 197-198)
• Contributing time, talent and money to your community (p 227)

I was also reminded of my personal weaknesses as an investor by the author’s advice to “give compounding time to work.”

Across a 50-year working life, that is a lot of time!