A much-ballyhooed new book that was touted as helping Baby Boomers figure out the magic savings number they each will need to be prepared for retirement has fallen way short of sales targets, The Wall Street Journal reports.
"The Number," which debuted in January, was supposed to sell big, so big that its publisher, Free Press, printed 125,000 copies, whereas most books about retirement are considered successful when they sell 50,000 copies.
The failure of this book to meet those figures is due to the fact Boomers are afraid they won't be prepared for retirement and don't want to know what that magic "number" is because they don't expect to ever reach it, according to the paper. "There could be an issue of denial here," said Lorraine Shanley, a principal with marketing consulting firm Market Partners International. "It's like going to the doctor: When you should confront it and when you do confront it aren't necessarily simultaneous experiences."
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.