Book Review: The 7% Solution by John H. Graves

You CAN Afford a Comfortable Retirement
Author John H. Graves
Review by Robin Hoselton

This almost baby boomer immediately observed two things about The 7% Solution: the book’s font is easy on the eyes—didn’t even need my reading glasses, and it was short—only 254 pages.

Since I’m not proficient at math calculations and had only a basic understanding of investment lingo, I had ill expectations. Other books on financial retirement strategy left me struggling through heavy tomes of boring thou-shalt-and-shalt-not rules of dry, incomprehensible text from which I garnered only: Don’t put all your eggs into one basket.

Not so with Grave’s book! It’s easy to understand and fun to read.

Graves writing charm stems from his personable and down-to-earth explanations. He neither dumbs down his guidance nor, conversely, makes the reader feel like an idiot. His use of analogies clarifies even the most complex financial issue. An example demonstrating the effect of capital on markets starts “Imagine a small river flowing through fields.”

It’s obvious that he is a lover of history and his tidbits, such as ancient Romans employing annuities, infused entertainment into my learning. Likewise, I enjoyed reading about Fibonacci’s rabbit concept, again easily understood with simple arithmetic.

As I consider myself a fledgling wordsmith, I like coming across new words and Graves sprinkled in a few for me like “cognoscenti,” “fungible,” “tontine” and “viaticum.”

His grammar didn’t go un-noticed either. A phrase that caught my attention is “if ever there were…” Most people would say (incorrectly) “if ever there was.”

Trivial Disappointments

Right away in the introduction of The 7% Solution: You CAN Afford a Comfortable Retirement, Graves mentions ETFs, forgetting that some of us had no idea what those are—Early Termination Fees, Employer Trust Funds, Emergency Task Forces, Escape the Fate Band? He does get around to identifying them in a later chapter but it would have been helpful to put the words in parentheses as he did with his other acronyms.

Also, on behalf of those who are not financial wizards, I question why he said nary a word about reverse mortgage income during retirement. What is his take on Robert Wagner’s TV pitches?

Did I Learn Anything of Substance?

Definitely! And you could put all your eggs into one basket if you walk very carefully. Now that I feel reassured in ignoring the thundering herd and managing my retirement options, I consider The 7% Solution the stepping stone to more information. In fact, Graves makes it easy with his inclusion of a list of recommended books, and instead of just a series of titles, he tells why each one is beneficial.

Lastly, how can you not be delighted with an author whose last line of advice in his book is “Love with abandon!”

 

Tagged book revew, boomer style magazine, cognoscenti, five-stars out of five, fungivle, john h. graves, robin hoselton, the 7% soluton, tontine, viaticum, you can afford a comfortable retirement