KEN FISHER is Founder, Executive Chairman, and Co-Chief Investment Officer of Fisher Investments, a [...]-plus billion (as of September 30, 2024) money management firm serving high-net-worth investors and institutions globally. He wrote Forbes' prestigious "Portfolio Strategy" column monthly for over 32 years, making him the magazine's longest continuously running columnist. He now writes monthly, native-language columns for over 25 major outlets worldwide, including The New York Post, the UK's Daily Telegraph and Canada's Globe and Mail. He is the author of 11 books on investing and personal finance and is a New York Times bestselling author.

Preface vii

Acknowledgments xi

Chapter 1: What? Me? Retire? 1

The Imagined Dichotomy 3

Two Goals and Some Non-Goals 4

Definitions and a Pencil 9

Start Immediately. Now. Right Away 13

Plan Your Prosperity 14

Chapter 2: My Goals Are What? 17

Why Is This So Hard? 20

Your Investing Goals, Simply 24

Potential Pitfall: Capital Preservation and Growth 27

Inflation's Insidious Impact 30

Three-and-a-Half Percent, Compounded 35

Chapter 3: The Secret Code-Asset Allocation or Benchmark? 39

Benchmark: A Road Map and Measuring Stick 42

Picking a Benchmark 45

The Big Decision: Asset Allocation 46

Potential Pitfall: Age Doesn't Equal Asset Allocation 50

Benchmark vs. Asset Allocation: What's the Difference? 52

Chapter 4: Time Horizon-Longer Than You Think 63

Potential Pitfall: Ignoring Opportunity Cost 66

Time Horizon: What Is It? 68

Time Horizon and Benchmark 72

Chapter 5: What's in a Return? 79

Growth Defined 83

The Past as a Guide? 87

Gordon Moore and Endless Innovation 97

Potential Pitfall: Unrealistic Expectations 100

Chapter 6: Getting That Cash Flow 105

Potential Pitfall: The All High-Dividend Portfolio 108

How Much Do You Need? 111

Monte Carlo: Not Just a Casino 116

Let's Get Simulating 117

Chapter 7: Can I Get There? 129

How Much Do You Have? 132

A Savings Plan 135

Chapter 8: Putting It All Together 143

To Benchmark or Not to Benchmark 146

State Your Goals 148

Know Where You Are 149

Picking a Sound Benchmark 150

Finding Professional Help 153

Avoid Being a Fraud Victim 155

And You're Off! 156

Appendix A: All Hail the Mighty Dow 157

Appendix B: Cash Flow vs. Expenses 167

Appendix C: Expense Categories 173

Appendix D: Personal Balance Sheet 177

Appendix E: Tax-Efficient Retirement Income Strategies 181

Notes 187

About the Authors 191

Index 193