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. One of his useful tools is to draw up five golden rules of investing, which hold true for any investor, anywhere in the world. In this vein, the book also operates as something of a pocket investment guide for all ages. The first question that needs to be answered in order to retire happy, Hinden tells us, is whether you are ready to retire. This can be one of the most difficult decisions a person is likely to make during his life, and Hinden brings considerable wit to bear on the problem. He also shows a refreshing propensity for honesty, illustrated best in the chapter titled, 'What should I do to prepare for serious illness?' Having had similar qualms about his own mortality, there is a genuine sincerity to Hinden's writing. By outlining the insurance options open to retirees, the author provides the reader with a calm analysis of the situation. Another useful feature of the book is the recommendations for further information listed at the end of each chapter. If the book disappoints at all in its lack of depth, these lists go some way towards remedying this problem. Ultimately, Hinden's book works best as a starting point for people looking to begin their retirement planning. As the author himself says in the last chapter, ageing successfully is not as easy as it sounds. How to Retire Happy by Stan Hinden published by McGraw Hill
