The Everything Retirement Planning Book

by Harrington, Judith

• ISBN13: 9781598692075
• ISBN10: 1598692070
• Format: Paperback
• Copyright: 2007-03-01
• Publisher: Adams Media Corp

Summary

No matter what your dream is 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[Registered] 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 to plan for a comfortable retirement.

Author Biography

Judith B. Harrington is the president of Print Management Commercial Printing Brokers Stanley J. Steinberg, C.F.P. is a member of the Financial Planning Association

Table of Contents

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