Excerpt: 'Million Not Enough'

Step Four: Build It. Construct an individualized portfolio. Based on all the factors above, investment suggestions are provided to help you reach your stated goal.

Step Five: Manage It. Monitor and protect your investments. Once your plan is firmly in place, you can adjust it according to your evolving needs. By adhering to Farr's Rules, you can rest secure in the knowledge that your long-term planning will help you realize the vision you created years before.

Step Six: Pass It On. Create a financial legacy for your family. One of life's inevitabilities is that you can't take it with you. I offer some advice on how to make sure the government doesn't take too much of it from you after you're gone.

The age at which you begin investing plays a significant role in determining the approach you take, so I've included strategies for three age groups:

Investment plans for thirty-five. A "Just in Time" plan for those entering the peak earning years with an emphasis on a long-term vision and investment strategy.

Investment plans for forty-five. An "It's Not Too Late" plan for those who've delayed planning, with an emphasis on a controlled but aggressive approach to maximizing their power-earning years.

Investment plans for fifty-five. A "Catch-Up" plan for those who've either delayed their planning or experienced some other financial setbacks that have them feeling as if they are trailing the rest of the field. This plan focuses on strategies you can employ to make up for lost time while still feeling secure.

Along with Farr's Rules, I have provided specific recommendations and rationales for why certain stocks should be a part of nearly every portfolio. By focusing on a new task?the creation of one million dollars in assets by age sixty-five?we Boomers can accomplish what seem to be two conflicting goals: saving for the future and enjoying our present life. Using real-world examples of clients who've chosen this baseline figure as their goal, I'll show you how a little thoughtful refocusing of purpose, a little saving, and some wise investment choices can lead to a prosperous retirement and beyond.

We have a lot of ground to cover, so let's get started by looking at the unique challenges facing Boomers as we move toward the next stage in our lives.

Excerpted from "A Million Is Not Enough" by Michael K. Farr. Copyright © 2008 Michael Farr. Reprinted with permission of Hachette Book Group USA. All rights reserved.