The 5th Option

Why Your Retirement Plan Won't Work the Way You Think It Will

Non-Fiction - Business/Finance
216 Pages
Reviewed on 10/08/2021
Buy on Amazon

Author Biography

Walter C. Young III, MBA, RICP®, is president of One Strategic Capital, a boutique 401(k) and financial-planning firm in Bainbridge, Washington.

Peter G. Bielagus has been an author and a professional speaker for more than 15 years. He has written three books on personal finance.

    Book Review

Reviewed by Vincent Dublado for Readers' Favorite

The 5th Option: Why Your Retirement Plan Won't Work the Way You Think It Will by Walter C. Young III and Peter G. Bielagus is a book that we all need to read before it's too late. Meet Michael and Jill Cunningham, a fictional couple with real problems who are on their path toward financial security for their retirement years. In this parable, you will take a step toward common ground with this couple as they discover how they are ill-prepared for their retirement, just like many retirees. This is a data-driven story that suggests three versions for a fifth option: 1) A cash buffer account for when the market goes down; (2) Buying an annuity for guaranteed lifetime income; (3) A combination of annuities and pension with permanent cash balance life insurance. Through these suggested options, you may well see that your retirement plans can have a bright future.

We all want to maximize our cash flow in order to retire comfortably. Hats off to Walter C. Young III and Peter G. Bielagus for their innovative take on securing a financially sound retirement. They tell you right off the bat that there is no best strategy and that we all need to evaluate our retirement options that best suit our preferences. The fifth option that they present will help you with that as a retirement planning option. Given that the concepts are told in story form, it is easy for any layman to understand the presented data and simplified items like taxes, among other considerations. Your ability to analyze your retirement needs comes easily, and studies about retirement are made available. Read and study The 5th Option. It is a book that will prepare you financially in your golden years, and you are never too young to get ready.