7 Most Important Equations for Your Retirement: The Fascinating People and Ideas Behind Planning Your Retirement Income - Hardcover

by Moshe A. Milevsky (Author)

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 financial planning

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.

Front Jacket

Where do all these numbers come from?

If you have spent any time at all planning for retirement, you have probably come across an assorted collection of numbers. Some of these numbers are very large, like how long you might live, or how much money you will need to retire comfortably. And, some of these numbers are very small, like the interest you are earning in the bank, or how long your money will last if the stock market takes a tumble at the wrong time. But, have you ever stopped and asked yourself: Where do all these numbers come from? Who created the underlying calculations? When were they discovered and how long have they been around? Do they have a proven track record? Well, you might be surprised to learn that the stories behind your numbers may be a lot more interesting than the numbers themselves.

For example, did you know that:

• The value of a pension was first discovered by a comet-chasing astronomer following his father's suspicious death and a plot to kill the King of England?

• The first calculation for how long your retirement nest egg will last was conceived over 800 years ago by an Italian merchant traveler best known for an obsession with rabbits?

• The most famous mathematical model of human mortality was formulated by an Englishman who wasn't allowed to attend university?

• Your stockbroker's very capitalistic plan to help you retire rich is based on an algorithm designed by the greatest Russian mathematician ever, who was a communist and Soviet hero?

Moshe Milevsky, bestselling author and internationally-renowned retirement quant, explains to the rest of us the work of seven scholars--summarized by seven equations--who shaped all modern retirement calculations. He tells the stories of Leonardo Fibonacci the Italian businessman; Benjamin Gompertz the gentleman actuary; Edmund Halley the astronomer; Irving Fisher the doomed stock picker; Paul Samuelson the economic guru; Solomon Huebner the insurance 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 remarkable narratives that span several continents and 800 years of history, The 7 Most Important Equations for Your Retirement focuses on universal concepts and big-picture concerns, which help you first appreciate and then figure out how to retire while you can still enjoy your money.

Back Jacket

Where do all these numbers come from?

If you have spent any time at all planning for retirement, you have probably come across an assorted collection of numbers. Some of these numbers are very large, like how long you might live, or how much money you will need to retire comfortably. And, some of these numbers are very small, like the interest you are earning in the bank, or how long your money will last if the stock market takes a tumble at the wrong time. But, have you ever stopped and asked yourself: Where do all these numbers come from? Who created the underlying calculations? When were they discovered and how long have they been around? Do they have a proven track record? Well, you might be surprised to learn that the stories behind your numbers may be a lot more interesting than the numbers themselves.

For example, did you know that:

• The value of a pension was first discovered by a comet-chasing astronomer following his father's suspicious death and a plot to kill the King of England?
• The first calculation for how long your retirement nest egg will last was conceived over 800 years ago by an Italian merchant traveler best known for an obsession with rabbits?
• The most famous mathematical model of human mortality was formulated by an Englishman who wasn't allowed to attend university?
• Your stockbroker's very capitalistic plan to help you retire rich is based on an algorithm designed by the greatest Russian mathematician ever, who was a communist and Soviet hero?

Moshe Milevsky, bestselling author and internationally-renowned retirement quant, explains to the rest of us the work of seven scholars--summarized by seven equations--who shaped all modern retirement calculations. He tells the stories of Leonardo Fibonacci the Italian businessman; Benjamin Gompertz the gentleman actuary; Edmund Halley the astronomer; Irving Fisher the doomed stock picker; Paul Samuelson the economic guru; Solomon Huebner the insurance 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 remarkable narratives that span several continents and 800 years of history, The 7 Most Important Equations for Your Retirement focuses on universal concepts and big-picture concerns, which help you first appreciate and then figure out how to retire while you can still enjoy your money.

Author Biography

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.