Cents & Sensibility: The Practical Guide to Money & Aging

Martin S. Finn and John Lavelle. Cents & Sensibility: The Practical Guide to Money & Aging, iUniverse, Lincoln, NE, 2006. 131 pages.

$14.36 from Amazon (click on book to order).

Perhaps with the words of Jane Austen in mind that "a large income is the best recipe for happiness I ever heard of," Cents & Sensibility attempts to help seniors get the most out of their income during retirement.

Written by two attorneys who are also certified public accountants, the book covers all the financial aspects of getting older, from investments to insurance to long-term care. In addition to providing information on estate planning and incapacity planning, Cents & Sensibility presents practical strategies for reducing taxes and increasing income in retirement. For example, the authors suggest taking Social Security early rather than selling appreciated securities in taxable accounts. The book also covers health insurance, protecting children with special needs, and retirement housing, among other topics.

Because the authors include a lot of technical detail, it is not the most easy-to-read book, but Cents & Sensibility contains valuable practical information that could be very helpful to individuals nearing retirement age.