8 Retirement Books Financial Advisors Recommend

“The Millionaire Next Door” by Thomas Stanley

James Osborn, founder and partner of Envest Asset Management, considers this a top recommendation for clients.

“While I read this back in 2004, I feel that the lessons learned in this book hits more so today. In the age of social media, it is far too easy to be seduced by material possessions, to keep up with the Joneses so to speak. With it constantly in our face, people may perceive wealth with having fancy cars, doing exotic travel and staying in glamorous hotels.

“The reality may be far from it. As often the case, the first step toward financial independence and wealth is behavioral. This book may help enlighten people to start that journey by living within their means, which could result in lifelong financial well-being — quite possibly like their neighbor who may be a millionaire next door.”

“The New Retirementality” by Mitch Anthony

George F. Reilly, principal, Safe Harbor Financial Advisors, calls this his favorite book to give to clients.

"Mitch doesn't get too deep into the dollars and cents of retirement, but focuses on what I call the 'softer side" of retirement — the why, when, where and what questions, not so much the how [can I afford it] question. There are some great stories and tools in the book that help my clients understand that traditional retirement may not be what they want or need, but instead some transition over time might lead to a more successful and rewarding outcome.

"And I have lost track over the years how many times I have used Mitch's phrase 'don't retirement FROM something, retire TO something' to clients. I know in several cases it changed their thinking for the better. I think everyone contemplating a major life transition [formerly known as retirement] needs to read this book!"

"Work Optional” by Tanja Hester

“This book covers many types of ‘retirement’ and provides actionable steps to get there,” writes Kiersten Peshek, lead wealth advisor at Citrine Capital. “Tanja helps folks think about what they really want out of their lives, helps account for all kinds of variables (health care, kids, etc.), and does so in a way that is easy to read and understand.

“Sometimes these topics can be very overwhelming, especially when we aren't taught the basics in school. This book does a great job of tackling this topic without the jargon and provides a number of avenues for reaching a work optional life.”

“Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life” by Jordan Grumet

"There are so many books, articles, blogs, podcasts etc. out there that talk about the technical aspects of managing your finances in retirement,” writes Chris Urban, founder, Discovery Wealth Planning. “However, there are far less that deal with the non-financial aspects, including really thinking about what you want your life in retirement to look like and how to live with purpose and intention because you only get one shot at it.”

“Don't Worry, Retire Happy! Seven Steps to Retirement Security” by Tom Hegna

Emmanuel K. Eliason, financial planner, president and CEO, Eliason Wealth Management, considers this his favorite book for clients.

"In what is known as longevity risk, most Americans are worried about outliving their money in retirement,” he writes. “This book allows pre-retirees or retirees to feel secure about their retirement by making a case for creating a strong foundation and framework for meeting financial and income goals during retirement. Tom outlines the steps to maximize retirement happiness through what he calls the 'go-go, slow-go and no-go' periods. The book is also a fun and easy read."

“The 5th Option” by Walter C. Young and Peter G. Bielagus

“It addresses the problem with the industry's approach to retirement and provides an alternative that is worth consideration,” according to Ron Guay, financial planner and founder, Rivermark Wealth Management. “The alternative is to leverage whole life insurance as a buffer that provides a few years of withdrawals, if needed, from an asset that is not correlated to the stock market.”

"Your Complete Guide to a Successful and Secure Retirement" by Larry Swedroe

“Larry has a knack for explaining complex things to a financial outsider without losing the nuances,” writes Jan Pevzner, financial planner and principal, Gotham Block.

“The book has all the relevant components — investments, financial planning and the underlying theory. It talks about asset allocation, investment strategies, IRAs, HSA, taxes, Social Security, longevity, insurance, mortgages, unique retirement issues for women, and many others in an easy-to-read engaging manner.

“Many books targeted to readers outside of finance simplify concepts and make all the explanations so vanilla that they are almost cartoonish. Not this one. After spending over 25 years in the financial industry, I was fully engaged and learned a few new ways of looking at the old concepts.”