Investing for a Lifetime / Wiley Finance Editions (PDF)

Investing 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.

Investing for a Lifetime shows:

* how younger investors can set savings goals

* how both younger and older investors can choose investment
portfolios to achieve these goals

* how investors can sustain spending once reaching
retirement.

Younger 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.

Sensible 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.

He 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.

Investing 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.