Someday Rich Planning for Sustainable Tomorrows Today

by Noonan, Timothy; Smith, Matt

• ISBN13: 9780470920008
• ISBN10: 0470920009
• Edition: 1st
• Format: Hardcover
• Copyright: 2011-12-06
• Publisher: Wiley

Summary

Practical insights that will help financial planners and investors work better together The best investment advice and portfolio strategies are a function of the advisor knowing what to say, as well as a private investor's receptiveness to the message. But the conversation between planner and investor is never an easy one. How to Build Wealth Zones seeks to bridge this gap by proposing a more intuitive approach to understanding how to structure investment portfolios to achieve better long-term financial security objectives. Along the way, author Timothy Noonan outlines a step-by-step approach to building personal pension plans using asset-liability matching strategies and other institutional investing approaches that defined benefit plans have historically used. Makes complex financial concepts intuitively simple for financial planners and investors Introduces "wealth zones" as a more natural way for advisors and clients to converse Proposes architecture for building investment portfolios that can meet long-term lifestyle and retirement wealth objectives Helps eliminate the disconnect between financial planners and investors, so that realistic goals can be set and achieved The concept of "wealth zones" and matching investment portfolios to meet an investor's objectives makes sense. This book will show you how to put this approach to work and make the best financial decisions possible.

Author Biography

Timothy Noonan is Managing Director of Capital Markets Insights for Russell Investments and a leader in the U.S. private wealth management industry. He is responsible for shaping client service strategies and delivering capital markets analysis to advisors in the U.S. and around the world. Noonan is currently Chairman of the Russell Strategic Advice Committee and has been the architect of Russell's Helping Advisors initiative, which since 2008 has offered advisors in the U.S., UK, and Australia insights to help advisors and their clients cope with retirement investing in a hostile economic climate.

Matt Smith is an independent consultant and author and coauthor, respectively, of two other Wiley Finance books, Managing Your Firm's 401(k) Plan: A Complete Road Map to Managing Today's Retirement Plans and The Retirement Plan Solution: The Reinvention of Defined Contribution. He was formerly senior vice president and defined contribution practice leader in the United States for Aon Consulting. Prior to Aon, Smith was managing director of retirement services for Russell Investments. He has been involved with the design, implementation, administration, consulting, and asset management of retirement plans for over twenty-eight years. Smith has written and spoken widely on topics involving retirement plans during his career.

Table of Contents

Foreword	p. ix
Preface	p. xi
Acknowledgments	p. xv
Introduction	p. 1
Time for a Real Conversation	p. 11
How We Got Here	p. 27
The Right Clients	p. 43
Connecting the Dots	p. 61
The Personal Asset Liability Model-Funded Status	p. 79
The Personal Asset Liability Model-Investment Plan	p. 101
Making a Good Business of Giving Good Advice	p. 133
Investor Archetypes	p. 161
Tripping Over the Finish Line	p. 171
On Shaping One's Future	p. 191
Building a Simple and Powerful Solution for Retirement Saving-Russell's Approach to Target Date Funds	p. 203
Investment Aspects of Longevity Risk	p. 223
Mismeasurement of Risk in Financial Planning-A Lesson in Risk Decomposition	p. 237
Modern Portfolio Decumulation-A New Strategy for Managing Retirement Income	p. 249
Lessons Learned from Retirement Income Research	p. 273
The New Language of Retirement	p. 277
About the Authors	p. 283
Index	p. 285
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