From the Publisher
The 800 years of scientific breakthroughs that will help
salvage your retirement plans
Physics, Chemistry, Astronomy, Biology; every field has its
intellectual giants who made breakthrough discoveries that changed
the course of history. What about the topic of retirement planning?
Is it a science? Or is retirement income planning just a collection
of rules-of-thumb, financial products and sales pitches? In The
7 Most Important Equations for Your Retirement...And the Stories
Behind Them Moshe Milevsky argues that twenty first century
retirement income planning is indeed a science and has its
foundations in the work of great sages who made conceptual and
controversial breakthroughs over the last eight centuries.
In the book Milevsky highlights the work of seven
scholars-summarized by seven equations-who shaped all modern
retirement calculations. He tells the stories of Leonardo Fibonnaci
the Italian businessman; Benjamin Gompertz the gentleman actuary;
Edmund Halley the astronomer; Irving Fisher the stock jock; Paul
Samuelson the economic guru; Solomon Heubner the insurance and
marketing visionary, and Andrey Kolmogorov the Russian mathematical
genius-all giants in their respective fields who collectively laid
the foundations for modern retirement income planning.
- With baby boomers starting to hit retirement age, planning for
retirement income has become a hot topic across the country
- Author Moshe Milevsky is an internationally-respected financial
expert with the knowledge you need to assess whether you are ready
to retire or not
- Presents an entertaining, informative narrative approach to
Understanding the ideas behind these seven foundation
equations-which Moshe Milevsky explains in a manner that everyone
can appreciate-will help baby boomers better prepare for
retirement. This is a book unlike anything you have ever read on
retirement planning. Think Suze Orman meets Stephen Hawking. If you
ever wondered what the point of all that high school mathematics
was, Moshe Milevsky''s answer is: So that you can figure out
how to retire...while you can still enjoy your money.
From the Jacket
From the introduction: An equation can''t predict your
future . . . But it can help you plan for it
Most books about retirement planning are written as guides,
instruction manuals or "how-to" books. The authors tell you what to
do, when to do it, and what to expect. I know this quite well
because I have authored many such tomes myself.
Rest assured, this is not one of those books.
This book tells stories which I hope will lead into
conversations. It is a narrative involving seven people, their
discoveries and the conceptual innovations that made it possible
for you to stop working and enjoy the money you have accumulated,
one day. These protagonists-or scientific heroes-didn''t achieve
their breakthroughs while hunched over a laboratory workbench,
peering through a microscope or trekking through jungles. They made
their discoveries sitting in front of a blank sheet of paper, but
while thinking very carefully about life and money. And, like the
greatest thinker of them all, Albert Einstein, they too expressed
their discoveries using a very beautiful language called
mathematics. Alas, the seven equations profiled in this book
aren''t as famous or as elegant as the simplicity of E = MC 2, but
they are far more practical for your retirement.
Yes, I know from many years of teaching experience that
financial conversations are often dry and humorless. So I promise
to do my best to lighten up the topic by keeping the technicalities
to a minimum and focusing on the art.
"Art," you say?
Yes. In my mind, famous equations are like beautiful Picassos.
Even if I don''t quite understand the painting or the mathematics I
can certainly appreciate the beauty and genius behind it. The seven
equations presented in this book typify, at least for me, the
conciseness, elegance and beauty that the best of the best
equations demonstrate. By the end of this book, if you''re not
already inclined to appreciate mathematical equations for what they
are, I hope you''ll agree about the beauty.
About the Author
Moshe A. Milevsky, Ph.D., is a professor at York
University (Toronto). He has graduate degrees in finance and
mathematics, and is a fellow of the Fields Institute for Research
in Mathematical Sciences, where he is the executive director of the
IFID Centre. He has written nine books, published over 60
peer-reviewed research studies and over 200 magazine
articles-including a featured story in the Wall Street
Journal and a profile in Money Magazine-on the topic
of retirement income planning. He has delivered over 1,000
seminars, keynote presentations and training sessions to audiences
all over the world. His popular writing earned him two National
Magazine Awards (Canada). In 2009 he was given a lifetime
achievement award from the U.S.-based Retirement Income Industry
Association (RIIA). Moshe grew up in Latin America and the U.S.,
but currently lives in Toronto with his wife and four daughters.