The book lives up to the promise inherent in its title in that it doesn't assume much prior knowledge and does provide good basic instruction. The range of subjects is quite wide, from different types of stock and bond investments to life insurance to college financial aid and more. Given the subject range, none of the topics gets in-depth treatment, but there are many referrals about where to find more information in other books and via the Internet. It's become an accepted axiom that people retiring in the next quarter-century will need a lot more than Social Security payments to comfortably support themselves. The demographic swell of boomers hitting retirement age around the year 2015 will put unprecedented pressure on the Social Security system.
Debate is already under way in Washington, D.C., about ways to save or reform the system.
Meanwhile, surveys of younger people reveal deep skepticism about what will be left for them when they reach retirement age, despite lifetimes of contributions. If anything, given the selfishness traditionally ascribed to the me generation, they will want more out of retirement programs, not less. And as this generation gains power in politics, you will see a huge decrease in the political ill will toward big government programs. As for investments, Wasik is not afraid to get specific. In a section on mutual funds, he offers recommendations for portfolios for people at different stages of life, including those with as little as five years remaining to retirement.