The Last Chance Millionaire

Andrew aims his message at Baby Boomers, who he believes are using timeworn methods of saving for retirement and will fall far short of the amount of money they will need. He reads his own work in a pedantic and cumbersome style that may not appeal to those used to more upbeat presentations. He moves through the chapters in a deliberate and precise manner that makes listeners feel every word, which can often be overwhelming in a multi-disc volume. Andrew's passion for the subject is stifled by overdramatization of certain statements at the expense of others. Numerous repetitions of facts seem redundant and distracting. He does enunciate well and speak clearly, a style that may appeal to listeners who often need to rewind. M.R. (c) AudioFile 2007, Portland, Maine

April 23, 2007
B
aby boomers, take note: traditional retirement savings wisdom won’t yield you enough to live on in your golden years, warns financial adviser Andrews (Missed Fortune
, etc.). Today’s boomers are facing retirement with savings of (on average) an inadequate $50K and are relying on outdated financial strategies to carry them through. In a clear, firm tone, Andrews explains that socking away all your savings in a 401(k), paying off your mortgage and buying a vacation home only after your primary home is paid off are all worn-out Depression era truisms that no longer apply when boomers may live 20 or even 30 years past retirement age. Andrews’s last-minute catch-up plan for safely generating a livable income within the years, not decades, left until retirement mixes familiar wisdom—take advantage of compound interest, tax-favored growth and safe, reliable leverage, and don’t depend on Social Security—with a refreshingly down-to-earth plan for becoming a “Thriver,” whose money is busily working away, tax-free or tax-reduced to provide stability and enjoyment in the golden years. This is no bathtub reading—the text is heavy on charts and graphs and percentages—but the conversational, sympathetic voice serves as a wakeup call for boomers without enough saved.

For people at any stage of life, this is a fast-moving presentation on the benefits of leveraged investments, compound interest, using home equity for investments, and the many ways taxes can be minimized on retirement plans. In addition to the big-picture advice, the author offers many useful insights on baby boomer misconceptions and common errors in the way people calculate the advantages of various retirement strategies. The author has a good voice and narrating personality for this kind of lesson--he's more benevolent teacher than overeager salesman. And though these are not easy concepts for many people, the compactness and clarity of the presentation will motivate the listener to consider Andrew's advice. T.W. (c) AudioFile 2011, Portland, Maine