The Everything Retirement Planning Book: A Complete Guide to Managing Your Investments, Securing Your Future, and Enjoying Life to the Fullest

by Judith B Harrington, Stanley J. Steinberg

Overview

No matter what your dream for retirement - traveling the world, relocating to an exciting new city, or just spending more time with family - you can make that dream come true. The Everything Retirement Planning Book helps you determine how much money you'll need to save for your dream and the best ways to do it. This down-to-earth handbook is full of checklists to help you make the decisions you need to make before retiring.
The Everything Retirement Planning Book includes practical advice on:

• Social Security benefits
• Withdrawing funds from IRAs
• Investments before and after retirement
• Life insurance and long-term care policies
• Working after you retire

Of course, retirement planning involves more than just financial matters. This comprehensive guide also covers the emotional and psychological issues surrounding retirement, along with the pros and cons of popular retirement destinations. The Everything Retirement Planning Book has everything you need as you plan for the next stage of your life.

Product Details

ISBN-13:	9781605502854
Publisher:	Adams Media
Publication date:	02/07/2007
Series:	Everything® Series
Sold by:	SIMON & SCHUSTER
Format:	eBook
Pages:	304
File size:	666 KB

About the Author

An Adams Media author.

Table of Contents

Top Ten Tips for Retirement Planning     xii
Introduction     xiii
Getting Started     1
Where to Start     2
Is "Retirement" the Right Word?     3
How Much Money Will You Need?     4
Calculating How Much to Save     6
The Importance of Saving     9
Staying the Course     12
A Word to the Ladies     14
Where to Put Your Money     17
Where You Are Now     18
When to Start Saving     21
Deciding Where Your Money Should Go     24
Individual Retirement Account (IRA)     26
Roth IRA Options     30
Who Can Invest in a Roth IRA     31
Getting Started with a Roth IRA     33
Withdrawal Penalties     34
Looking into the Crystal Ball     37
Money In/Money Out     38
Employer-offered Retirement Plans     39
Company Pension Plans     40
Vesting 43 401(k) and 403(b)     44
Contributing to Your 401(k)     45
Withdrawing from Your 401(k)     46
Roth 401(k)     49
Small Business Retirement Plans     50
Moving On     53
Rollovers and Conversions     54
You Leave, Your Money Stays     56
Rollover IRAs     58
Converting from a Traditional IRA to a Roth IRA     59
Converting from a Rollover IRA to a Roth IRA     62
Rolling Over from a 401(k) to a Roth IRA     62
Rebalancing Your Portfolio     63
Annuities     67
Variable Annuities     68
How Annuities Work     70
Payout Phase     72
Death Benefit     72
Variable Annuity Charges     74
After-tax Annuities     76
Other Retirement Income Sources     79
Social Security Safety Net     80
How Social Security Works     80
Will Social Security Be Around When You Need It?     81
Applying for Social Security     83
Aging in Place-Reverse Mortgages     85
How a Reverse Mortgage Works     86
Working After Retirement     88
Why You Need an Estate Plan     91
Addressing the Inevitable     92
What Is Included in an Estate Plan     93
Time for Some Soul-searching     95
Preparing to Put an Estate Plan Together     97
Business Transfer Planning     100
Estate Taxes     100
Incorporating a Roth IRA in Your Estate Plan     102
Potential Estate Planning Mistakes     103
Wills     107
Do You Really Need a Will?     108
How to Create a Will     110
What to Include in a Will     111
If You Die Without a Will     113
Couple Wills     113
Working Around Probate     115
Small Estates     118
Guardians for Children     118
Reasons to Make Changes     120
Why a Will Alone May Not Be Enough     122
Transferring Legal Powers     125
Living Wills and Health Care Proxies     126
Reasons for a Living Will     126
Creating and Updating a Living Will     128
Health Care Power of Attorney     129
Choosing Your Health Care Proxy     131
Will Your Health Care Proxy Be Followed?     133
When Health Care Documents Take Effect     134
When Health Care Documents End     134
Financial Power of Attorney     135
Conservatorships and Guardianships     137
Trusts     139
Understanding the Basics of Trusts     140
When a Trust Might Help     141
Reasons for Creating a Trust     142
Living Trusts     143
Institutional Trustees     144
AB Trusts for Couples     145
Charitable Remainder Trusts     147
Special Needs Trusts     149
Pet Trusts     149
Will Your Retirement Be an End or a Beginning?     151
What to Call It     152
Retirement History 101     154
A Leisure Class Is Born     155
Options for Ending Work     157
If a Door Closes, Look for the Open Window     159
Forward-thinking Retirees     160
No Rocking Chairs for Baby Boomers     163
The Boomer Philosophy     164
Plan for Income, Plan for Living     164
Responding to Societal Problems     168
Down but Not Out     170
Bouncing Back     171
Death or Disability of Your Spouse     173
Lifelong Learning     175
A Lifetime of Knowledge     176
Going Back to School     177
Unfinished Business     178
The Student Becomes the Teacher     179
Finding the Patterns in Your Life     180
Making the Classroom Fit Your Schedule     182
Independent Study     183
Lifelong Learning Institutes     184
Travel-based Learning     186
Next Chapters     187
Where You Give Your Time and Money     189
Giving Your Biggest Gift-You     190
Choosing a Cause     191
Relocating-Finding the True You     192
Living like You Mean It     194
The Volunteer Trap     195
Creative Living     199
The Sandwich Generation     200
Additional Living Options     201
Building Trends     202
The Resurgence of Communes     204
Co-Housing     205
Independent Living Stages     206
Loss     209
An Aging Body     210
Poor Self-Image     211
Enjoying the Ride     212
Who You Are     213
Big Hurdles to Overcome     214
Transformation Through Loss     216
The Emotions That Come with Retirement     217
Pack Your Baggage     218
Inevitable Changes     219
Know Your Retirement Style      220
What You Want Versus What Is Possible     223
Doing the Work to Quit Work     225
Spirituality and Religion     226
Dreaming and Scheming     229
Hobbies     230
Travel-the Great Reward     231
Charting a Travel Strategy     233
Discount Flying     235
Flex-retirement     236
Finishing All Your To-do Lists     239
Getting a Checklist Outlined     241
Initiating Something New     242
Eating Well Through the Years     245
Changing Nutritional Needs     246
What and How Much to Eat     247
Fiber Intake     249
Dietary Approaches to Stop Hypertension: DASH     250
Eating Intentionally     252
Cooking for Yourself in Retirement     254
Test-drive Your Retirement     257
Try It Out     258
Living Lean     259
Housing Transitions     260
Being a Super Saver     262
Cutting Back Costs, Not Enjoyment     264
Charitable Support     265
Retirement Financial Planning Resources     269
Retirement Lifestyle Planning     273
Travel Resources for Seniors     279
Index     281