How to Retire Happy, a new book by Stan Hinden, is nothing if not timely. With much debate in Hong Kong about the need for a Mandatory Provident Fund, Hinden illustrates the need for proper financial retirement planning in an easy-to-read tome.
He brings clarity to the potential chaos of retirement planning by splitting his work into 12 chapters, each corresponding to an 'important decision you must make before you retire'.
And the author is obviously on familiar terrain. A Washington Post reporter for 23 years, including 12 as a financial columnist, Hinden retired in 1996, and now pens a nationally syndicated column - Retirement Journal.
Before delving into the substance of the book, it must be made clear that it was written with US residents in mind. Undoubtedly, this is the book's biggest drawback for Asian readers. Chapters dealing with Social Security and the taxation issues raised by 401(k) plans are, essentially, totally superfluous in this part of the world.
Despite this drawback, the book still contains a wealth of valuable information. In particular, the insights Hinden offers into the difficulties of planning retirement investing are eminently readable.
He captures well the crux of the issue facing retirees - namely, where is the cash flow going to come from?
By working closely with financial retirement planners, Hinden breaks down the morass of investment jargon into plain English, allowing laymen easy access to the book's content.