The Retirement Guide: A Comprehensive Handbook On Aging, Retirement, Caregiving And Health : How To Plan And Pay For It

by O'Donnell, Jill

• ISBN13: 9781894663793
• ISBN10: 1894663799
• Format: Paperback
• Copyright: 2004-12-15
• Publisher: Litdistco

Summary

People over sixty-five years old constitute the fastest-growing segment of the American population. The aging population will radically change society as individuals face the challenges of growing older and caring for parents. As our life spans increase, so do our options for how we will spend our later years. Few have made plans for retirement. Without clear goals, plans to support dependants, and means of paying for financial commitments, in addition to increasing health risks, retirement could be a time of uncertainty. The Retirement Guide solves that problem. Â

Table of Contents

INTRODUCTION	11	(8)
Part I: Life Planning
1 GROWING OLDER	19	(6)
Personal Responsibility
Attitude
Relationships
Your Inner Self
2 YOUR LIFE PLAN	25	(14)
Who Are You?
Reflecting on Your Life
Aiming for Balance
Following Your Dreams
Prioritizing
Writing Your Mission Statement
Setting Goals
Being Well Informed
Analyzing Your Situation
Devising Your Strategy
Putting Your Plan into Action
3 BODY AND MIND	39	(12)
Staying Healthy
Keeping Active
Eating Properly
Practicing Moderation
Seeing Your Doctor
Managing Stress
Staying Safe and Secure
Using Your Mind
Companionship
Appearance
Learning
Working
Sharing
4 WHERE WILL YOU HANG YOUR HAT?	51	(16)
Making the Right Choice
Staying in Your Own Home
Remaining Independent
Adapting Your House
Some Factors for Homeowners to Consider
Buying a Condominium
Continuing Care Retirement Communities
Renting an Apartment or Condominium
Senior's Communities
Retirement Homes
Finding the Right Fit
Moving in with Family
Long-Term Care Facilities
Planning the Move
5 THE TIES THAT BIND	67	(14)
Parent-Child Relationships
Communicating across Generations
Planning Together
Communicating With Family Members
Factors That Can Impair Communication
Selling the Family Home
Bequests and Legacies
Second Marriages and New Relationships
Financial Problems
Living with Adult Children
Differences in Attitudes and Beliefs
6 PUTTING YOUR LEGAL HOUSE IN ORDER	81	(14)
Role of Professionals
Types of Powers of Attorney
Living Wills or Directives
Consent to Treatment
Adult Guardianship
Compensation
Wills and Trusts
Mental Capacity
Selecting an Executor: Factors to Consider
Compensation for Estate Administration
Bequests and Legacies
Family Law Issues
Prenuptial Agreements
Family Law Obligations
7 THE FINAL EXIT	95	(14)
Cremation
After Cremation
Earth Burial
Burial Vault
Caskets and Containers
Funeral Service
Memorial Service
Location of the Service
Church Funeral
Graveside Service
Funeral Home Chapel Service
Non-Religious Service
Pre-Planning Your Funeral
Funeral Trust
Part II: Caregiving
8 BEING A CAREGIVER	109	(16)
Are You Equipped for Caregiving?
Attitudes
Being Partners
Responsibilities
Being Informed
Making Decisions
Workplace Concerns
Stress, Feelings Related to Caregiving
Coping with Anger and Frustration
Family Involvement
Taking Care of Yourself
9 PROVIDING CARE	125	(22)
Identifying Age-Related Changes
How to Cope
Assessing Needs
Informal Support Systems
Formal Support Systems
Locating Support Services
Local Community Information Center
Government Services
Telephone Book & Yellow Pages
Internet, Consulting Services
Hiring Staff
Senior Abuse
Problem Solving
Loneliness
Finding a New Home
Dealing with Doctors, Lawyers, and Financial Advisors
Driving
Creating a Safe Environment
Distance Caregiving
What is a Geriatric Care Manager
Who needs a Geriatric Care Manager
10 COPING WITH DEMENTIA	147	(14)
Causes and Development
Diagnosing Dementia
Progressive Changes to Expect
Communication
Aggressive Behavior
Hygiene
Meal Times
Wandering
Nighttime Concerns
Safety Measures
Legal Matters
Activities for Seniors with Dementia
Music and Dance
Photographs
Walking
Reading
Part III: Financial Planning
11 WHY PLAN?	161	(8)
Objectives of Financial Planning
Why People Don't Plan Financially
12 YOUR FINANCIAL PLAN	169	(14)
Principles of Financial Planning
The Role of a Financial Advisor
Steps in Financial Planning
1. Goals and Objectives
2. Information
3. Analysis
4. Financial Strategy
5. Action Plan
6. Decisions for Action, Review and Update
13 BOOSTING THE BOTTOM LINE	183	(1772)
Principles of Cash Management
Minimizing the Cost of Your Chosen Lifestyle
Avoid Non-Deductible Debt
Maximizing After-Tax Discretionary Income
Deduct
Defer
Diminish
Divide
14 MAKING YOUR MONEY GROW	1955
Types of Investment
Debt (Fixed-Income) Investments
Equity Investments
Risk
Inflation
Variability
Comparing the Risks
Other Components of Risk
Managing Risk and Prospering
Diversification
Ways to Diversify
Maintaining a Model Asset Allocation
Contrarian Investment Approach
Due Diligence
Investment Management Points to Remember
15 PROTECTING YOURSELF AND YOUR FAMILY	209	(18)
Principles of Risk Management
What Are the Risks?
Disability
Critical Illness
Need for Long-Term Care
Premature Death
Are You Covered?
Capital Analysis in the Event of Death
Capital Analysis in the Event of Need for Long-Term Care
16 PLANNING YOUR ESTATE	227	(8)
Common Goals of Estate Planning
Estate Planning in General
17 CHOOSING A FINANCIAL ADVISOR	235	(12)
Professional Qualifications
Questions You Should Ask
How Are Financial Advisors Paid?
Fee-Only Financial Planners
Commission-Based Financial Planners
Fee-Based Financial Planners
Wrap Accounts
18 OVERCOMING POSSIBLE PROBLEMS	247	(16)
Fear of Equities
Annuities
Reverse Mortgages
Benefits and Drawbacks
Reverse Mortgages: Benefits and Drawbacks
Financial Independence Deficit
Family Dynamics
APPENDIX A: TYPES OF INSURANCE	263	(6)
Disability Insurance
Life Insurance
APPENDIX B: PREPARING TO MEET YOUR ADVISORS	269	(24)
Your Financial Advisor
Your Estate-Planning Advisor
Your Lawyer
Your Executor
APPENDIX C: INTERVIEWING A FINANCIAL ADVISOR	293