The 7 Most Important Equations for Your RetirementThe Fascinating People and Ideas Behind PlanningYour Retirement Income
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More About This Title The 7 Most Important Equations for Your RetirementThe Fascinating People and Ideas Behind PlanningYour Retirement Income


The 800 years of scientific breakthroughs that will help salvage your retirement plans

Physics, Chemistry, Astronomy, Biology; every field has its intellectual giants who made breakthrough discoveries that changed the course of history. What about the topic of retirement planning? Is it a science? Or is retirement income planning just a collection of rules-of-thumb, financial products and sales pitches? In The 7 Most Important Equations for Your Retirement...And the Stories Behind Them Moshe Milevsky argues that twenty first century retirement income planning is indeed a science and has its foundations in the work of great sages who made conceptual and controversial breakthroughs over the last eight centuries.

In the book Milevsky highlights the work of seven scholars—summarized by seven equations—who shaped all modern retirement calculations. He tells the stories of Leonardo Fibonnaci the Italian businessman; Benjamin Gompertz the gentleman actuary; Edmund Halley the astronomer; Irving Fisher the stock jock; Paul Samuelson the economic guru; Solomon Heubner the insurance and marketing visionary, and Andrey Kolmogorov the Russian mathematical genius—all giants in their respective fields who collectively laid the foundations for modern retirement income planning.

  • With baby boomers starting to hit retirement age, planning for retirement income has become a hot topic across the country
  • Author Moshe Milevsky is an internationally-respected financial expert with the knowledge you need to assess whether you are ready to retire or not
  • Presents an entertaining, informative narrative approach to financial planning

Understanding the ideas behind these seven foundation equations—which Moshe Milevsky explains in a manner that everyone can appreciate—will help baby boomers better prepare for retirement. This is a book unlike anything you have ever read on retirement planning. Think Suze Orman meets Stephen Hawking. If you ever wondered what the point of all that high school mathematics was, Moshe Milevsky's answer is: So that you can figure out how to retire...while you can still enjoy your money.


Moshe A. Milevsky, Ph.D., is a professor at York University (Toronto). He has graduate degrees in finance and mathematics, and is a fellow of the Fields Institute for Research in Mathematical Sciences, where he is the executive director of the IFID Centre. He has written nine books, published over 60 peer-reviewed research studies and over 200 magazine articles—including a featured story in the Wall Street Journal and a profile in Money Magazine—on the topic of retirement income planning. He has delivered over 1,000 seminars, keynote presentations and training sessions to audiences all over the world. His popular writing earned him two National Magazine Awards (Canada). In 2009 he was given a lifetime achievement award from the U.S.-based Retirement Income Industry Association (RIIA). Moshe grew up in Latin America and the U.S., but currently lives in Toronto with his wife and four daughters.


Introduction: An Equation Can't Predict Your Future . . .But It Can Help You Plan for It 1
Chapter 1: How Long Will My Number Last?
Equation #1: Leonardo Fibonacci (1170–1250) 7

Chapter 2: How Long Will I Spend in Retirement?
Equation #2: Benjamin Gompertz (1779–1865) 31

Chapter 3: Is a Pension Annuity Worth It?
Equation #3: Edmond Halley (1656–1742) 53

Chapter 4: What Is a Proper Spending Rate?
Equation #4: Irving Fisher (1867–1947) 77

Chapter 5: How Much in Risky Stocks versus Safe Cash?
Equation #5: Paul Samuelson (1915–2009) 101

Chapter 6: What Is Your Financial Legacy Today?
Equation #6: Solomon S. Huebner (1882–1964) 125

Chapter 7: Is My Current Plan Sustainable?
Equation #7: Andrei N. Kolmogorov (1903–1987) 151

Conclusion: Controversies, Omissions and Concluding Thoughts 175

Appendix: Crash Course on Natural and Unnatural Logarithms 179

References and Sources 185

Acknowledgments 195

About the Author 197

Short Poem by Maya Milevsky (age 11) 199

Index 201