Customer Reviews

Smoke and Mirrors: Financial Myths That Will Ruin Your Retirement Dreams

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3 star:		(1)
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1 star:		(2)

 

 

David Trahair's book Smoke and Mirrors shows a new and realistic approach to investing for retirement. You can retire on a lot less than you have been told.
A great read. Well worth it.

Trahair has provided great advice to a large number of Canadians, particularly those Boomers looking to retire over the next 20 years. With this book (a bargain at $17!), you'll find most of the tools to retire comfortably and with peace of mind. He will debunk the many financial myths that are perpetuated by the 'financial services' companies that may actually put your retirement at risk. As a bonus, you'll live a little better before retirement, knowing that you don't HAVE to have a million dollars or more to retire comfortably.

I might sound like a commercial, but the fact is, I've done similar calculations, and have come to same conclusions about the myths he talks about. The only negative is that is a light read - but that also makes it easy-to-read.

David Trahair has created an examplary book in "Smoke & Mirrors". It's already put my mind at ease about my ability to retire (I can do it!). David cuts through the fog of confusion an fear created by the financial "planners" who have a vested interest in driving you to use their services. Here's a book for real people with real-life incomes and savings abilities!

Smoke & Mirrors is just that, lots of smoke & mirrors. This book has some good ideas, but there is no meat on the bones.
"Free Parking" by Alan Dickson is a much better read.

A fantastic book that cuts through all the myths and hearsay about retiring comfortably. Trahair shows you step-by-step what you need to know about managing your debt and assets to allow you to realize your retirement dreams!! A must-read for those who are confused by all of the conflicting advice out there!

I found the book quite superficial. The concepts presented are sound but there is nothing here that most of us don't already know. It is good common sense but no new or innovative ideas. Plan for your retirement by not spending the money purchasing this book.

Decided not to buy this book after reading a reprint in Canadian Money Saver titled "Don't Invest in an RRSP Before Paying Down Your Mortgage". The strategy and arguments supporting it are misleading, single-faceted, refuses to look at a bigger picture. Assuming the strategy is followed exactly as Mr. Trahair suggests, in the current (2011) low interest rates environment, it would be an obvious failure. The sad thing is that my next door neighbours seems to be religiously following this very strategy. Guess what? Just a couple years before retirement they are left with a free and clear property - their shelter (Banzai!) and $0 (ZERO) retirement savings. Now what? Where would they get that 5% average annual rate of return (or any other % return above the inflation rate) with 2 years of time horizon? Maybe Mr. Trahair will offer them another ridiculous advice in an article with another catchy title ... Smoke and Mirrors: Financial Myths That Will Ruin Your Retirement Dreams