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, Moshe Milevsky argues that 21st-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.
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.