Reconfigurement outside the US

Use this forum to discuss the July 2022 Book of the Month, "Reconfigurement", by E. Alan Fleischauer
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Jumana_Fawmi
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Re: Reconfigurement outside the US

Post by Jumana_Fawmi »

In Sri Lanka the current young generation is more thinking and planning for future. And i think this book can be taken as a sort of guidance for the retirement planning for most of them as they go forward with it.
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Post by Rex Rexy »

In my country, there is what we call Pension Management where you can save a percentage of your income in your active years. At retirement, the pension management company pays you for the rest of your life. But personally, I believe investing in a viable business when you are active would serve you during your retirement years.
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Post by The Holy Grail »

I agree agree with most of the previous replies that reconfigurement is applicable globally and to any person. For example, planning for retirement should not be just a US thing.
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Post by The Holy Grail »

Nyambura Kar wrote: 01 Jul 2022, 10:49 From the sample I have read, it is already possible for me to see how I can apply this information in my life. Even if I don't live in the U.S, we are all going through the same financial crisis and we all wonder about the future. I believe this book can help anyone no matter where you live.
I agree with you. The lessons in here can be applied by anyone on a personal basis, and it doesn't have to be for Americans only.
The Holy Grail
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Post by The Holy Grail »

Pauline Parnell wrote: 02 Jul 2022, 03:31 Definitely, retirement plans are trendy in the Caribbean. We are urged to save during our working years to have a hassle-free retirement. This book examines retirement's before- and after-plans.
Same line of thought as mine. Retirement plans are popular world over and this is just one of the things applicable outside the US.
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Post by The Holy Grail »

KASITHEREADER wrote: 03 Jul 2022, 00:31 This book is very much applicable to everyone and from the lessons and views being presented in the book, I can see it as basically something everyone will need, regardless of where you are.
Exactly! There is definitely something for everyone in here. It is definitely applicable even outside USA.
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Post by salim Kabir »

From what I have read of the book, if you substitute the names for the methods of saving for retirement (e.g. 401k for company pension), it is still very applicable to the UK and I would have thought wider, although I appreciate different cultures have very different approaches. In general though, the points made can be read across and used for retirement planning outside of the US.
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Post by third agbata »

In some countries,people tend not to pay attention to their future structuring. The truth of the matter irrespective of the country, people spend their entire life operating only on the present without thinking about their future goals.
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Post by Abu_Aisha1 »

The scope of the book may have covered the USA, but irrespective of where we reside in the world, we must understand that preparing for the future is key and very important and this can only be achieved through financial literacy.
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Post by Adisapelumi5 »

I do believe it applies to people living outside the US. At some point in our lives, we all begin to wonder about plans for the future.
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Post by Siphesihle Prince »

Certainly the book has many elements that one can transfer over to their own environment. But yeah, there was certainly a bias towards American readers in this book, which I wished the author did not do as that sort of excluded well...the rest of the world that would be interested in what he had to say.
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Post by Silvio Omutsiambo »

Partly. For instance, here in Africa getting a job isn't easy. But those few who can secure them will be in a better position if they saved for their future.
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Alice Fu
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Post by Alice Fu »

I live in the United States. While this book may not benefit people outside the states in every single aspect, I believe that there are segments of the book that can be helpful for those who may be less at ease with what's in the future. Although some concepts, such as Medicare, wouldn't mean as much to someone outside the States, I can imagine people benefitting from the perspectives of life in the earlier chapters of the book.
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Post by Ayomikun Babalola »

I'm a Nigerian, and the reality is a bit different here. This strategy would work for the upper class and the upper middle-class, the lower classes might not be able to save towards retirement as the cost of living is so high and continues to steadily rise. How can we expect people to save for the future, when they can barely feed themselves today.
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Odala J Phiri
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Post by Odala J Phiri »

Though the book is written and addresses US citizens, the lessons in the book apply everywhere in the world. For example, in Malawi people become poor after retirement due to poor planning. So this book may save someone.
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