4 out of 5 stars
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The book, Reconfigurement by E. Alan Fleischauer on the whole, is a modest effort to try to broaden horizons; it makes its reader think about various arenas of life circling around financial stability and social security. At many points, the book feels like the need of the hour, as the economy has become a fleeting phenomenon and ensuring security has become a priority.
Though the book might seem to be addressing people in the age group of conventional retirement or pre-retirees, and it rightly has a major part that covers the respective plans, it certainly manages to curtail the audience in diverse age groups, giving an idea as to why financial planning should always be an early consideration.
The attempt to use storytelling to cover such an important, extensive data-oriented subject is a smart choice, as it maintains the flow of the book and keeps us in the loop. Also, it is commendable that the book has been born out of a well-researched and structured concept, which adds to its authenticity. Adding humor helps in not losing the reader in a complicated chaos of simple and compound interest.
The first half of the book stresses the need for reconfiguration with a retrospective background and the need to update certain parts of the normal convention with time, and it does so by citing simple examples that set the premise for the upcoming chapters.
The author then progresses to career assessment and various methods that could be applied, which highlights how choosing the right career path and combining it with individual human traits can help with reconfiguration. The links shared for the same, right then and there, were an interesting insight.
The book ascends further into the details and plans and covers various aspects of life insurance, mutual fund investments, disability plans, and health coverage. Since, personally, I do not belong to that field, I can assure you that the initial half was very well delivered.
The last quarter of the book gets a little crowded and overwhelming, and there is a need to slow down to avoid the saturation the statistics bring about as the author tries to cover as much relevant data pertaining to various associated schemes.
There are parts of the book in which there is a question of privilege and access, since there is still a huge financial divide across the world and the affordability and accessibility of plans and investments is a question. In fact, there is a whole stratum of the population that is not privileged enough yet to take the various assessments before a career choice is made, since making ends meet has become a priority.
Overall, it’s a book you would go back to time and again to understand the basics of certain schemes and the importance of financial stability and security. The only portion of complexity was the extensive theoretical statistics towards the end, which felt overwhelming; hence, I would rate it 4/5.
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