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9780470583357

The New Savage Number: How Much Money Do You Really Need to Retire?, 2nd Edition

by
  • ISBN13:

    9780470583357

  • ISBN10:

    0470583355

  • Format: eBook
  • Copyright: 2009-09-01
  • Publisher: Wiley
  • Purchase Benefits
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Summary

Nationally known personal finance expert Terry Savage helps you answer the most important retirement questionsDuring a time when looking to the future is more important than ever, author Terry Savage offers street smart advice for the many soon-to-be retirees wondering how much longer they will have to work to make up for the losses in their retirement accounts. The New Savage Number provides the strategic guidance and hands-on techniques necessary to plan a successful, satisfying retirement.Throughout the book, Savage helps you figure out how much money you need to retire-your savage number-and how to invest to reach that goal. Then, as retirement looms, she guides you through the process of planning withdrawals so the money lasts your entire lifetime. In between, Savage offers practical advice on everything from getting personal finances organized to insuring retirement plans against the disastrous need for long-term care. An informative, engaging book that future retirees of every age can utilize, The New Savage Number Contains updated chapters reflect the current economy including changes to the mortgage market and stock market performance Takes issues such as social security, long term insurance, and new investment risks into consideration Offers guidance on continuing to earn income in retirementWritten with every retirement bound individual in mind, The New Savage Number, Second Edition provides you with the tools needed to rescue your retirement.

Table of Contents

Preface to New Edition
Introduction: Can You Retire?
Retro-Retirement
The Savage Number
Shaping Retirement Reality
Avoiding Generation Warfare
Hoping for a Miracle?
You're Not Alone
The Likely Solution: Retro-Retirement
The Starting Point
Time Is Money
Consuming Time and Money
Running Out of Time
What's Your Time Worth?
The Time Value of Money
How to Avoid Wasting Time (and Money)
The 10 Key Questions
How Long Will I Live?
What Will Inflation Do to the Value of My Savings?
How Can I Save Enough?
How Should I Invest the Money I've Saved for Retirement?
How Much Will I Spend to Live in Retirement?
How Much Can I Withdraw Each Month without Running Out of Money?
What's the Biggest Danger to My Retirement Plans?
How Can I Earn Money during Retirement?
How Can I Retain Control of My Financial Life?
What If I Have Money Left Over When I Die?
Getting the Answers
Getting Your "Ballpark Estimate"
Monte Carlo Your Money
The Savage Answer: Monte Carlo Modeling
Monte Carlo Modeling-How It Works
Beware of Averages
Monte Carlo Modeling and Retirement Planning
Monte Carlo and You
Do-it-Yourself Monte Carlo
Saving Up, Drawing Down
Accumulation Phase
Withdrawal Phase
The Right Balance
Seven Best Ways to Save for Retirement
Getting It All Together
Online, On Paper, On Your Computer
Free Online Money Management
The Basics: Paying Bills Online
Organizing Your Online Financial Life
A Credit Check-up
Portfolio Tracking
Moving beyond Tracking-To Advice
Resources for Getting It Together
A Road Map to Monte Carlo
The Best Routes
Arriving in Monte Carlo
Choosing a Financial Adviser
Investing for Retirement
Stocks, Bonds, and Chicken Money
Realistic Stock Market Expectations
Understanding Bonds
Keep Your Nest Eggs Safe with Chicken Money
A Minute on Mutual Funds
Resources for Stocks, Bonds, and Chicken Money
Beyond the Basics
Exchange-Traded Funds
Real Estate Investment Trusts
Gold and Natural Resources
Options
Futures
The U.S. Dollar
Hedge Funds
Resources for Investing
One-Step Retirement Investing
Buying the "Whole" Market
Retirement Investing Made Easy: Targeted Retirement Funds
Starting Small-No Excuses!
Make the Call
Streams of Retirement Income
Where Will the Money Come From?
The Balancing Act: Income versus Principal
Gainful Employment in Retirement
Withdrawals from Retirement Accounts
Generating Income from Your Portfolio
Income Resources
Annuities for Income and Tax-Deferred Growth
Immediate Annuities
Tax-Deferred Annuities
The Latest Annuity Products
Tax-Deferred Annuity Withdrawals
Tax-Deferred Annuity Exchanges
Your IRA Inside an Annuity?
Annuities: The Real Risk Factor
Annuity Information and Pricing/Insurance Company Safety Ratings
Social Security and Medicare
Social In-Security
Medicare
A Final Thought about Social Security and Medicare
Government Benefit Resources
How to Turn Your Home into Your Pension
Reverse Mortgages
More Income from Your House Using Trusts
Reverse Mortgage Resources
Long-Term Care: The Greatest Risk of All
Long-Term Care Insurance: Who Needs It ?
The Government's Role in Long-Term Care
Insurance for Your Retirement
Our Parents, Ourselves
Long-Term Care Insurance: A Woman's Issue
What If You Don't Use It?
Long-Term Care-The Facts
How to Understand Long-Term Care Coverage
Rising Demand, Soaring Costs
When to Buy? While You Can!
How Do I Use My Policy?
What Should My Long-Term Care Policy Cover?
Key Elements of a Long-Term Care Insurance Policy
Buying Your Long-Term Care Policy
Which Insurance Company Should You Choose?
What Should It Cost?
10-Pay: Controlling Price Risk
Long-Term Care Policies and Income Taxes
Paying for Long-Term Care with Life Insurance and Annuities
Employee Group Long-Term Care Policies
The Federal Long-Term Care Insurance Program
Long-Term Care Insurance from Affinity Programs
A Final Argument: The Cost of Not Having
Long-Term Care Insurance
Resources for Purchasing Long-Term Care Insurance
Estate Planning: The Price of Success
What's Left?
What Could Happen?
What Is Your Estate?
What Are Estate Taxes?
What Is Probate?
What Is a Revocable Living Trust?
Health-Care Power of Attorney
Durable Power of Attorney
Living Will
Naming Retirement Plan Beneficiaries
What Else Should You Consider?
Moving Assets Out of Your Estate
Life Insurance and Your Estate
Spouses and Estate Planning
Choosing an Estate Planner
Estate Planning Checklist
Conclusion
Acknowledgments
Index
Table of Contents provided by Publisher. All Rights Reserved.

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