The Number by Lee Eisenberg

The Number

A Completely Different Way to Think About the Rest of Your Life

By Lee Eisenberg

Free Press (A Division of Simon & Schuster. Inc.)

$26.00; hardcover; 268 pages; (2006).

 

 

            The Number is the amount of money you need to be secure for the rest of your life.  How you determine that number is what this book is all about.  This book helps you decide what you want to do with the rest of your life and then provides a blueprint of how to achieve your financial goals.

 

            Let's face it – unless you already have gobs of money, reading about investing and retirement is generally on a par with reading your homeowner's insurance policy.  Sure, it's important information, but who has the time or inclination to wade through all that gibberish?  Besides, most of us were taught at an early age that it's not polite to talk about money. 

 

Luckily, Eisenberg is a witty writer who discusses financial matters with grace, intelligence and humor.

 

While money mavens swagger over their Numbers, reasonable affluent people stammer and stutter when the subject comes up.  They would sooner offer personal guided tours through their medicine cabinets, provide detailed dossiers on their sessions with psychotherapists and cosmetic surgeons, or describe in graphic detail which particular sex acts they long to perform with this or that man, woman, or farm animal, and with what boot, whip, kitchen appliance, or hand too.  The Number, I have come to understand, is the Last Taboo.

 

The Number is arranged in three parts: 1 - Chasing it, 2 - Figuring it, and 3 - Finding it. Eisenberg says we're all chasing our numbers – but few are actually doing something about it. He divides number chasers into the following groups:

 

• Procrastinators - They have no plan or real sense of the Number.  He calls this group "brainless."
• Pluckers - They have a vague plan and an arbitrary Number.  They folks are "scatterbrained."
• Plotters - They have a plan and a Number but no sense of purpose in life.  This group is "left-brained." 
• Probers - They have a plan and a Number that is centered on what would really make a difference in their retirement.  Probers are right-brained."

There are plenty of scary statistics – all presented in easily digestible form – that underline the importance of planning.

 

Of workers fifty-five and older, only one in four has invested assets of more than $100,000; one in three has less than $50,000. One out of every two baby boomers will not have accumulated enough to match their current standard of living.

 

The good news is that no matter how far behind you might be in planning for retirement, The Number will help you both think about and achieve the kind of life you want.

 

Comments

[Baby Gifts]

Hmm, I’ll admit I haven’t heard of The Numbers or Lee Eisenberg, but it does sound like a very interesting read. I am especially interested in what he has to say about left-brained people. As an analytical left-brainer, I have to say I’m a bit annoyed at him classifying me as someone who has no sense of purpose. I’m afraid Mr. Eisenberg may be a little too rigid in his classification. For example, I know someone who procrastinates quite a lot, yet this person has a very realistic view of the world and knows exactly what he has to do to make it. He seems to have a very good idea of what his magical number is and knows exactly how much work he has to do to get there. Is he lazy? At times, yes, but certainly not brainless. I will certainly have to get a copy of The Numbers to see how Eisenberg addresses people like this, if he does at all?

[Baby Gifts]

I’ve read The Numbers by Lee Eisenberg, and I think it is one of the most influential books I’ve ever read! The way Eisenberg talks about money, financial matters, and how to not only discover how much money you need but how you can go about getting it is great. He presents all of his information in such a way that I don’t find it boring at all, plus it’s very easy to understand. I’ve read other books about finances and how to prepare for retirement, but none have been as clear or as helpful. While I’m certainly not anywhere near where I should be in saving, I now have a much better idea of what I need to do, and I’m working on moving from a Plucker (what I certainly used to be) to a Prober. Anyone else out there making the transition? I’d love to know what others think of The Numbers.