10 August 2006
By Joel P. Bruckenstein
RINKs (Retired, Independent, No Kids) by Raymond D. Mignone, CFP
Hardcover $15.70...Paperback $10.90
There are few people more qualified to write on the topic of RINKs than Ray Mignone, CFP. A Certified Financial Planning practitioner since 1989, a nationally recognized fee-only planner, one of the true good guys in this profession and an aspiring RINK himself, Ray has helped numerous couples's transition to RINKhood.
RINKs are different. Those who are savers tend to accumulate more assets than their peers who have children. They can't count on their children for physical, emotional or financial help, so they have unique estate and health care planning needs. Unfortunately, until now, there was no single source of information dealing with planning for RINKs. Now there is.
The book is aimed primarily at the end user, the consumer, but there is a great deal of useful information here for practitioners who advise, or aspire to advise, this interesting market niche. While the chapters on portfolio construction and retirement distributions should be familiar territory for all planners, the chapters on investor psychology, charitable giving, estate planning and health care issues are solid primers for novice planners. Chapter 9, Finding & Working with a Trusted financial Advisor, also qualifies this book as a good marketing tool for RINK prospects.
Mignone has done a good job of filling a gap in the personal finance literature. If you have a friend, relative or prospect who fits the RINK profile, buy them a copy of this book.