{"product_id":"investing-for-a-lifetime-isbn-9781118900949","title":"Investing for a Lifetime","description":"\u003cp\u003eInvesting for a Lifetime is designed to make saving and investing understandable to the investor. Wharton Professor Richard C. Marston, 2014 recipient of the Investment Management Consultants Association’s  prestigious Matthew R. McArthur Award,  guides an investor through the main investment decisions throughout a lifetime. \u003c\/p\u003e \u003cp\u003eInvesting for a Lifetime shows:\u003c\/p\u003e \u003cul\u003e \u003cli\u003ehow younger investors can set savings goals\u003c\/li\u003e \u003cli\u003ehow both younger and older investors can choose investment portfolios to achieve these goals\u003c\/li\u003e \u003cli\u003ehow investors can sustain spending once reaching retirement. \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eYounger and older investors alike should understand savings goals that will provide enough income to sustain spending in retirement.   They should devise rates of saving that allow them to reach their goals by the time of retirement.  Though retirement is often the main goal of investing, it’s not the only one.  Marston discusses how funding a child’s education or saving for a down payment for a home affects overall saving.\u003c\/p\u003e \u003cp\u003eSensible investing is also necessary for savings goals to be realized.  Investing need not be complicated, but Marston explains that a diversified portfolio should include a mix of different types of U.S. stocks, foreign stocks, real estate as well as bonds. He describes each of these asset classes and shows how they fit in an investor’s portfolio.  He shows how investors can monitor the performance of their portfolios by establishing benchmarks for each asset class to judge how well their investments are doing.  \u003c\/p\u003e \u003cp\u003eHe focuses particular attention on those investors nearing retirement. In today’s low interest rate environment, he discusses whether it is possible to fund retirement from interest and dividends alone. He shows how savings combined with Social Security can fund retirement spending. And he asks how the “New Normal” of lower returns might force investors to save more than in past decades, and to spend less in retirement than in the past. \u003c\/p\u003e \u003cp\u003eInvesting for a Lifetime is for investors who want to understand more about the savings and investment process, particularly those who worry about whether their retirement savings will last a lifetime.\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One Saving and Investing 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 Introduction: Investing for a Lifetime 3\u003c\/p\u003e \u003cp\u003eChapter 2 The Building Blocks of a Portfolio: Bonds and Stocks 11\u003c\/p\u003e \u003cp\u003eChapter 3 Long Swings in Returns: Are We in a “New Normal?” 23\u003c\/p\u003e \u003cp\u003eChapter 4 A Savings Goal for Retirement 37\u003c\/p\u003e \u003cp\u003eChapter 5 What Rate of Savings? 49\u003c\/p\u003e \u003cp\u003eChapter 6 Savings and Taxes 61\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two Investment Choices 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 7 Investing in U.S. Stocks 75\u003c\/p\u003e \u003cp\u003eChapter 8 Foreign Stock Markets: Industrial Countries of Europe and the Pacific 89\u003c\/p\u003e \u003cp\u003eChapter 9 Emerging Markets 101\u003c\/p\u003e \u003cp\u003eChapter 10 Investing in Bonds: The Basics 115\u003c\/p\u003e \u003cp\u003eChapter 11 Investing in Bonds: The Wider Bond Market 129\u003c\/p\u003e \u003cp\u003eChapter 12 Investing in Real Estate: REITs 145\u003c\/p\u003e \u003cp\u003eChapter 13 The Home as an Investment 157\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three Wealth Management 169\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 14 Choosing a Portfolio: Fitting the Pieces Together 171\u003c\/p\u003e \u003cp\u003eChapter 15 Best Practices for Investing 187\u003c\/p\u003e \u003cp\u003eChapter 16 Investment Income for Retirement 199\u003c\/p\u003e \u003cp\u003eChapter 17 Spending in Retirement 209\u003c\/p\u003e \u003cp\u003eChapter 18 Retirement: Putting Together a Plan 223\u003c\/p\u003e \u003cp\u003eChapter 19 The “New Normal” and Retirement 239\u003c\/p\u003e \u003cp\u003eAbout the Author 249\u003c\/p\u003e \u003cp\u003eAbout the Companion Website 251\u003c\/p\u003e \u003cp\u003eIndex 253\u003c\/p\u003e   \u003cp\u003e\u003cb\u003eRICHARD C. MARSTON\u003c\/b\u003e is the James R.F. Guy Professor of Finance at the Wharton School of the University of Pennsylvania. A graduate of Yale College and MIT, where he received his PhD, Marston was also a Rhodes Scholar at Oxford University. He has taught asset allocation for over twenty years in the CIMA Program sponsored by the Investment Management Consultants Association. In 2014 he received IMCA's Matthew McArthur Award for outstanding contributions to investment management. Since 1999, he has been Academic Director of the Private Wealth Management Program, a week-long program for ultra-high net worth investors. Marston has lectured on investments throughout the United States and in over a dozen foreign countries. He is the author of numerous articles and books, including his most recent book, \u003ci\u003ePortfolio Design\u003c\/i\u003e (Wiley, 2011).    \u003c\/p\u003e\u003cp\u003e\u003ci\u003eInvesting for a Lifetime\u003c\/i\u003e is designed to make saving and investing understandable to the investor. Written as a guide through the main investment decisions throughout a lifetime, author Richard C. Marston demonstrates how younger investors can set savings goals, how both younger and older investors can choose investment portfolios to achieve these goals, and how investors can sustain spending once reaching retirement. \u003c\/p\u003e\u003cp\u003eYounger and older investors alike should understand \u003ci\u003esavings goals\u003c\/i\u003e that will provide enough income to sustain spending in retirement. They should devise \u003ci\u003erates of saving\u003c\/i\u003e that allow them to reach their goals by the time of retirement. Though retirement is often the main goal of investing, it's not the only one. Marston discusses how funding a child's education or saving for a down payment for a home affects overall saving. \u003c\/p\u003e\u003cp\u003eSensible \u003ci\u003einvesting\u003c\/i\u003e is also necessary for savings goals to be realized. Investing need not be complicated, but Marston explains that a diversified portfolio should include a mix of different types of U.S. stocks, foreign stocks, real estate as well as bonds. He describes each of these asset classes and shows how they fit in an investor's portfolio. He shows how investors can monitor the performance of their portfolios by establishing benchmarks for each asset class to judge how well their investments are doing. \u003c\/p\u003e\u003cp\u003eHe focuses particular attention on those investors nearing retirement. In today's low interest rate environment, he discusses whether it is possible to fund retirement from interest and dividends alone. He shows how savings combined with Social Security can fund retirement \u003ci\u003espending\u003c\/i\u003e. And he asks how the \"New Normal\" of lower returns might force investors to save more than in past decades, and to spend less in retirement than in the past. \u003c\/p\u003e\u003cp\u003eThis is a book for investors who want to understand more about the savings and investment process, particularly those who worry about whether their retirement savings will last a lifetime.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989473018085,"sku":"NP9781118900949","price":50.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118900949.jpg?v=1761784240","url":"https:\/\/k12savings.com\/products\/investing-for-a-lifetime-isbn-9781118900949","provider":"K12savings","version":"1.0","type":"link"}