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The Number: A Completely Different Way to Think about the Rest of Your Lifeby Lee Eisenberg
Synopses & Reviews
Do you know your Number?
The often-avoided, anxiety-riddled discussion about financial planning for a secure and fulfilling future has been given a new starting point in The Number by Lee Eisenberg. The buzz of professionals and financial industry insiders everywhere, the Number represents the amount of money and resources people will need to enjoy the active life they desire, especially post-career. Backed by imaginative reporting and insights, Eisenberg urges people to assume control and responsibility for their standard of living, and take greater aim on their long-term aspirations.
In 1999, Eisenberg was in the midst of downshifting from having served as the Editor-in-Chief of Esquire and other high profile positions. He was "half-in, half-out of the workplace" with an enviable consulting position at Time, Inc., and a family comfortably settled in the suburbs. That's when he received an unexpected offer from the Wisconsin-based Lands' End which, in the end, he couldn't resist. It meant uprooting his family and moving to the rural heartland, and taking on the challenges of an entirely new way of life. Before the move, he admits, "I was worried about the Number." Once in Wisconsin, Eisenberg confesses that the "Number was leading us around by our noses."
From Wall Street to Main Street USA, The Number means different things to different people. It is constantly fluctuating in people's minds and bank accounts. To some, the Number symbolizes freedom, validation of career success, the ticket to luxurious indulgences and spiritual exploration; to others, it represents the bewildering and nonsensical nightmare of an impoverished existence creeping up on them in their old age, a seemingly hopeless inevitability that they would rather simply ignore than confront. People are highly private and closed-mouthed when it comes to discussing their Numbers, or lack thereof, for fear they might either reveal too much or display ineptitude.
In The Number, Eisenberg describes this secret anxiety as the "Last Taboo," a conundrum snared in confusing financial lingo. He sorts through the fancy jargon and translates the Number into commonsense advice that resonates just as easily with the aging gods and goddesses of corporate boardrooms as it does with ordinary people who are beginning to realize that retirement is now just a couple of decades away. Believing that the Number is as much about self-worth as it is net worth, Eisenberg strives to help readers better understand and more efficiently manage all aspects of their life, money, and pursuit of happiness.
* According to Eisenberg, "Number chasers" fall into four personality types:
--"Procrastinators" enter their forties and fifties ensconced in a cloud of avoidance and denial about the years ahead of them, or simply do not understand investing in their futures.
* The current "Debt Warp" is the "silent Number killer that afflicts young and old" that has been brought on by our "whip-it-out credit-card culture."
* The "Lost Years" describes a person's 20s, 30s, and 40s wherein sensible financial foundation-building bows to oblivious and careless spending, and the tug-of-war dichotomy between the "old Rest of Your Life" and the "new Rest of Your Life."
* A surprise "Lifestyle Relapse" attack around retirement age can be induced by debt, aging, long term care, and self-absorption. Living longer and spending more, people will eventually experience dire consequences in response to the debt-drenched, expense account-driven lifestyles to which they have grown accustomed.
* The six tenets of the "Eisenberg Uncertainty Principles" outline the dubious state of living in a carpe diem-addicted, indebted culture with little financial guidance or responsibility.
* "Downshifting" is an important skill one needs to know how to do in the expanse between leaving a career and before death in order to maintain financial stability and a happy life.
Eisenberg's book is not an investment guide, but rather something wholly original: a revealing look behind our most common financial and emotional conflicts and how we can begin to get a grip on them. Eisenberg gives each reader a unique and unprecedented tool with which to virtually craft his or her future. This encompassing book is a priceless, step-by-step prelude to initiating, or continuing, discussions with a qualified financial advisor. The bottom line for The Number is that Eisenberg offers each reader a fresh and promising beginning to the rest of his or her life.
"Eisenberg's arc through life could be used to define the baby boom. In the 1970s, he coined the term power lunch; in the 1980s, he edited Esquire and invented rotisserie baseball. In the 1990s, he wrote books on finding the good life through golf and fishing, and at the end of the decade, he joined an Internet retailer. These days, he's thinking about retirement, particularly about his Number: the amount of money he'd need to have socked away in order to be confident that his postretirement life would meet his expectations. Everyone's Number is different, Eisenberg says, and though his book is not an especially useful financial guide, it isn't really meant as a how-to. Instead, it provides an illuminating and charmingly written consideration of an aging generation's retirement worries and of the investment business designed to profit from them. Heartfelt discussions of goals, health and health care, 'downshifting' to enjoy life while spending less money and the meaning of postretirement life pepper its pages. Financial planners are interviewed, partly to get information about savings and investment, but mostly to explore the meaning of the field and the type of people who practice it. A few of Eisenberg's chapters feel scattershot, but his perceptive analyses of real and fictional people's financial hopes and strategies will inspire readers to reconsider their Numbers and their methods for investing. BOMC Alternate." Publishers Weekly (Copyright Reed Business Information, Inc.)
Backed by imaginative reporting and insights, Eisenberg urges people to assume control and responsibility for their standard of living, and take greater aim on their long-term aspirations. Not an investment guide, this is a revealing look at common financial and emotional conflicts and how to control them.
Do you know what your "Number" is? It's the amount you need for your nest egg. Have you saved enough? Can you save enough? Lee Eisenberg explores the baby boomers' obsession with what he calls "lifestyle entitlement."
Five years ago Lee Eisenberg chose to make a dramatic and risky midlife move. To secure his family's financial future, he changed careers and moved halfway across the country. Not only did he capture his Number, he found both personal and professional satisfaction. During that time, he talked to huge numbers of other baby boomers who were either in denial or just plain uninformed about what they needed to do to find their own long-term security. He came to think of The Number as "the last taboo." Marketers and the media talk about it all the time, but few of us ever really figure it out. it all.
The Number is not a how-to book. Instead, Eisenberg has gotten a lot of people to open up about just how well their American dreams are going, where and how they hope to live those dreams out, what price tags are affixed to the necessities and toys that furnish these dreams, and whether they believe there's enough in the piggy bank to pay for Everyone has a different number. The Number is the book that will help us-finally-figure out what it really is. The Number takes place at an unmapped crossroads: the point at which the baby boomer's American dream turns toward home.
About the Author
Lee Eisenberg's last book was the New York Times bestseller, The Number: A Completely Different Way to Think About the Rest of Your Life (2006). The book was cited by Business Week as one of the best books of the year. His is also the former editor in chief of Esquire. Under his stewardship the magazine won National Magazine Awards across a number of writing and design categories. He currently lives in Chicago.
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