| Introduction |
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1 | (4) |
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2 | (1) |
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3 | (1) |
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3 | (1) |
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4 | (1) |
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4 | (1) |
| Part 1: Working Toward Retirement |
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5 | (98) |
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Chapter 1 Looking Ahead to Your Future |
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7 | (12) |
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Planning for the Longer Term |
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8 | (8) |
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Identifying long-term planning issues |
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9 | (4) |
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Taking personal responsibility for your financial future |
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13 | (1) |
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Saving and planning sooner and smarter pays off |
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13 | (3) |
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Eyeing Keys to Successful Retirement Planning |
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16 | (3) |
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16 | (1) |
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17 | (1) |
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Understanding that planning is a process |
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17 | (2) |
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Chapter 2 Protecting Your Employment Income and Your Health |
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19 | (20) |
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Assessing Your Need for Life Insurance |
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20 | (7) |
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Understanding the purpose of life insurance |
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20 | (1) |
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Determining your life insurance need |
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21 | (2) |
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Assessing your current life coverage |
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23 | (2) |
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Figuring out what type to buy |
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25 | (1) |
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Choosing where to buy life insurance |
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26 | (1) |
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Protecting Your Employment Income: Disability Insurance |
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27 | (6) |
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Why most people lack disability insurance and why you need it |
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28 | (2) |
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Identifying needed disability coverage |
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30 | (1) |
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Shopping for disability coverage |
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31 | (2) |
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Investing In and Protecting Your Health |
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33 | (6) |
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33 | (1) |
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34 | (2) |
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Hydrate with good-quality H2O |
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36 | (1) |
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Include fiber in your diet |
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36 | (1) |
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36 | (2) |
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38 | (1) |
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Chapter 3 Developing a Retirement Plan |
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39 | (20) |
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40 | (2) |
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Knowing How Much You Really Need for Retirement |
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42 | (2) |
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Figuring out what portion of income you need |
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42 | (1) |
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Grasping what the numbers mean |
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43 | (1) |
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Eyeing the Components of Your Retirement Plan |
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44 | (6) |
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Social Security retirement benefits |
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44 | (3) |
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47 | (1) |
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48 | (2) |
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50 | (1) |
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When Setting Up Your Couples Plan |
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50 | (1) |
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51 | (5) |
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Understanding assumptions and how they work |
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52 | (2) |
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54 | (1) |
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Dealing with excess money |
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55 | (1) |
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Making Plans for Nonfinancial Matters |
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56 | (3) |
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57 | (1) |
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57 | (1) |
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Activities, hobbies, interests |
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57 | (2) |
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Chapter 4 Identifying Retirement Investments and Strategies |
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59 | (26) |
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60 | (6) |
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60 | (3) |
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63 | (1) |
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Considering how investments are susceptible to inflation |
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64 | (1) |
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Being aware of tax consequences |
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64 | (1) |
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Monitoring sensitivity to currency and economic issues |
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65 | (1) |
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What You Need to Do Before You Select and Change Investments |
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66 | (3) |
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Knowing your time horizon |
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66 | (1) |
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Factoring some risk into your investment plan |
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67 | (1) |
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Keeping the bigger picture in mind |
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67 | (1) |
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68 | (1) |
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Surveying Different Investments |
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69 | (9) |
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Comparing lending investments to ownership investments |
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69 | (1) |
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70 | (2) |
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Investing in mutual funds and ETFs |
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72 | (4) |
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Comparing investments and risks |
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76 | (2) |
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Managing Investment Portfolios |
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78 | (7) |
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Funds of funds and target-date funds |
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78 | (2) |
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Index and exchange-traded funds |
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80 | (3) |
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Assessing and changing your portfolio |
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83 | (2) |
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Chapter 5 Grasping Retirement Accounts and Their Rules |
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85 | (18) |
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Eyeing the Characteristics of Retirement Accounts |
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86 | (4) |
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Focusing on the tax benefits |
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86 | (2) |
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Being aware of restrictions and penalties |
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88 | (2) |
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Identifying the Different Types of Retirement Accounts |
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90 | (3) |
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Employer-sponsored retirement accounts |
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90 | (1) |
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Self-employed retirement savings plans |
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90 | (2) |
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Individual Retirement Accounts (IRAs) |
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92 | (1) |
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Rolling Over Retirement Balances |
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93 | (5) |
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Deciding what road to take |
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94 | (1) |
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Choosing a custodian and rolling over your balance to an IRA |
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95 | (3) |
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Choosing Beneficiaries for Your Retirement Accounts |
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98 | (2) |
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Taking Required Minimum Distributions, or RMDs |
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100 | (5) |
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Calculating your RMD for an IRA |
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100 | (1) |
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Computing the RMD for other retirement plans |
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101 | (2) |
| Part 2: Making Money Decisions In Retirement |
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103 | (92) |
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Chapter 6 Managing Budgets and Expenses |
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105 | (22) |
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Pointing Out Some Retirement Worries You May Have |
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106 | (4) |
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106 | (1) |
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107 | (2) |
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109 | (1) |
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110 | (2) |
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Considering the 4 percent rule |
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110 | (1) |
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Naming the factors affecting your use of retirement assets |
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111 | (1) |
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How Spending Really Changes in Retirement |
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112 | (3) |
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115 | (12) |
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116 | (1) |
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117 | (1) |
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118 | (2) |
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Utilities and communication |
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120 | (2) |
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122 | (1) |
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122 | (1) |
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Personal care and fashion |
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123 | (1) |
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123 | (1) |
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124 | (1) |
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124 | (1) |
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Children and grandchildren |
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125 | (2) |
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Chapter 7 Guiding Investments and Distributions in Retirement |
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127 | (20) |
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Guiding Your Investments through Retirement |
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128 | (4) |
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Estimating your investment income |
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128 | (2) |
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Rebalancing your investments |
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130 | (2) |
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Looking Closer at Annuities |
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132 | (5) |
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Annuities: A cross between a retirement account and insurance |
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132 | (1) |
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Contributing in your working years |
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133 | (1) |
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Annuitizing in your retirement years |
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134 | (2) |
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Examining the newest annuity |
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136 | (1) |
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Choosing Your Pension Options |
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137 | (7) |
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Selecting between a lump sum or monthly payments |
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138 | (5) |
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Deciding among monthly payment options |
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143 | (1) |
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Eyeing Withdrawal Strategies for Your Investment Accounts |
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144 | (3) |
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Chapter 8 Making Important Housing Decisions |
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147 | (14) |
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148 | (6) |
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Considering the pros and cons of moving |
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148 | (2) |
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Eyeing the options for where you can move |
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150 | (4) |
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Tapping Your Home's Equity: Reverse Mortgages |
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154 | (3) |
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154 | (2) |
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Determining whether a reverse mortgage is right for you |
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156 | (1) |
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Searching for more information on reverse mortgages |
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157 | (1) |
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Looking at Tax Issues Regarding Your Housing Decisions |
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157 | (4) |
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Being aware of capital gains exclusion rules |
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158 | (1) |
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Converting your home to a rental: Yes or no? |
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158 | (3) |
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Chapter 9 Considering Your Long-Term Care Insurance Needs and Options |
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161 | (34) |
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Understanding Long-Term Care |
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162 | (7) |
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Naming the types of long-term care |
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162 | (2) |
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Predicting who will need long-term care |
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164 | (2) |
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Estimating how much long-term care will cost |
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166 | (3) |
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169 | (1) |
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Considering LTC Insurance |
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170 | (10) |
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Knowing the basic features of LTCI |
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171 | (7) |
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Checking out two more important LTCI factors |
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178 | (2) |
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Using Hybrid Insurance Products |
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180 | (4) |
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Exploring annuities to finance LTC |
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181 | (1) |
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Financing LTC with life insurance |
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182 | (1) |
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Assessing the LTC hybrids |
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183 | (1) |
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184 | (8) |
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Figuring out whether you can finance your own LTC |
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184 | (3) |
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Deciding when to buy LTCI |
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187 | (1) |
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Comparing tax-qualified and nonqualified policies |
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188 | (2) |
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Opting for life insurance instead of LTCI |
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190 | (1) |
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Taking advantage of the reverse mortgage |
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191 | (1) |
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Evaluating Employer and Group Coverage |
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192 | (1) |
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Combining LTCI and Self Insurance |
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193 | (2) |
| Part 3: Dealing With Government Programs |
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195 | (108) |
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Chapter 10 Making Your Best Choices under Social Security |
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197 | (40) |
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The Lowdown on Social Security |
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198 | (2) |
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Determining When You're Eligible for Benefits |
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200 | (7) |
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Reviewing your earnings history |
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201 | (2) |
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Defining when you can retire |
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203 | (4) |
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Taking a Closer Look at Spouses' and Survivor Benefits |
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207 | (7) |
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Understanding the choices for spousal benefits |
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208 | (3) |
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Ensuring spouses are taken care of: Survivor's benefits |
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211 | (3) |
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Identifying When You May Need to Receive Benefits |
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214 | (5) |
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What are your cash flow needs? |
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215 | (1) |
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215 | (2) |
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What other income do you have? |
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217 | (1) |
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Do you want to continue to work? |
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217 | (1) |
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What are the potential income taxes on benefits? |
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218 | (1) |
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What's your life expectancy? |
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218 | (1) |
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Noting How Working Reduces Benefits |
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219 | (3) |
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Taking the penalty for exceeding the annual income limit |
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219 | (1) |
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Determining the penalty on a monthly basis |
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220 | (1) |
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The penalty isn't always bad |
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221 | (1) |
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222 | (4) |
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222 | (1) |
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223 | (1) |
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Considering exempt income |
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224 | (1) |
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Relying on special income |
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225 | (1) |
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Being Aware of Potential Income Taxes on Your Benefits |
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226 | (5) |
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Understanding how modified adjusted gross income works |
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226 | (2) |
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Reducing taxes on benefits |
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228 | (3) |
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Changing Your Mind: A Do-Over |
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231 | (2) |
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Deciding whether you should take a do-over |
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232 | (1) |
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232 | (1) |
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Looking at What the Future Holds for Social Security |
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233 | (4) |
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Chapter 11 Getting the Most Out of Medicare |
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237 | (38) |
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Starting Medicare: A Broad Overview of Enrollment Deadlines |
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238 | (2) |
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240 | (5) |
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Seeing who's eligible and signing up for Part A |
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241 | (2) |
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243 | (2) |
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245 | (12) |
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246 | (6) |
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Probing Part C: Medicare Advantage |
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252 | (5) |
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Qualifying for Prescription Drug Coverage with Part D |
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257 | (9) |
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258 | (6) |
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Enrolling in a Part D plan |
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264 | (2) |
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Eyeing a Medicare Supplement |
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266 | (6) |
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Understanding Medigap policies |
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266 | (1) |
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Standardizing Medigap policies |
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267 | (2) |
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Choosing a Medigap policy |
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269 | (2) |
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Obtaining quotes for Medigap insurance |
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271 | (1) |
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Resolving Some Sticky Issues |
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272 | (3) |
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272 | (1) |
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Monitoring changes at work |
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273 | (1) |
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274 | (1) |
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Chapter 12 The State Health Care System Backup: Medicaid |
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275 | (28) |
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Discovering What Medicaid Is |
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276 | (1) |
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Considering Medicaid Eligibility |
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277 | (1) |
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Establishing Functional Eligibility |
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277 | (1) |
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Meeting Financial Requirements |
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278 | (13) |
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Understanding income limits |
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279 | (2) |
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Understanding asset limits |
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281 | (10) |
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Examining Planning Strategies |
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291 | (8) |
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292 | (1) |
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292 | (1) |
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293 | (3) |
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Buying an immediate annuity |
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296 | (1) |
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Going the spousal refusal route |
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297 | (1) |
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Recognizing the downsides of Medicaid eligibility strategies |
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298 | (1) |
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Using Both Medicare and Medicaid |
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299 | (1) |
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Eyeing Reasons Not to Seek Medicaid |
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300 | (3) |
| Part 4: Estate Planning: It's More Than Just Dead People And Lawyers |
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303 | (98) |
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Chapter 13 The Basics on Estate Planning |
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305 | (24) |
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Understanding Estate Planning |
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306 | (4) |
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Studying Some Strategies Before Starting Your Estate Plan |
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310 | (5) |
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Finish your plan no matter what |
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310 | (1) |
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Keep track of your estate |
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311 | (1) |
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312 | (1) |
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Don't wait for the perfect plan |
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313 | (1) |
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Carefully choose executors and trustees |
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313 | (1) |
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314 | (1) |
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Answering Key Questions to Gather Critical Information |
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315 | (6) |
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316 | (1) |
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How much should I give now? |
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316 | (1) |
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Should I apply controls and incentives? |
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317 | (1) |
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Should heirs get equal shares? |
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318 | (1) |
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Should I exclude someone? |
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319 | (1) |
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How should my blended family be handled? |
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319 | (1) |
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Should I leave only money? |
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320 | (1) |
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Should my wealth stay in the family? |
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321 | (1) |
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Knowing How Estate Taxes Work |
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321 | (4) |
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322 | (1) |
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323 | (2) |
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Finding Good, Affordable Advice |
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325 | (4) |
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325 | (1) |
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Using an expert: Yes or no? |
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326 | (3) |
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Chapter 14 Eyeing Wills and Other Legal Documents |
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329 | (26) |
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329 | (8) |
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Pointing out some important details |
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330 | (5) |
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Facing the limits of wills |
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335 | (1) |
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336 | (1) |
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Avoiding things you can't do with your will |
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336 | (1) |
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Assigning a Financial Power of Attorney |
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337 | (3) |
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Recognizing the importance of a POA |
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338 | (1) |
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339 | (1) |
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Delegating Medical Decisions |
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340 | (4) |
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Understanding living wills |
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341 | (1) |
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342 | (1) |
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Assigning a health care proxy or POA |
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343 | (1) |
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344 | (1) |
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344 | (1) |
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344 | (4) |
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Naming beneficiaries for your assets |
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345 | (1) |
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Examining the special case of IRAs |
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345 | (3) |
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Looking Closer at Probate |
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348 | (7) |
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Avoiding probate: Yeah or nay? |
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349 | (1) |
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Considering joint tenancy |
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349 | (2) |
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Making use of living trusts |
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351 | (4) |
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Chapter 15 Tackling the Federal Estate Tax When You Have Too Much Money |
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355 | (30) |
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Understanding the Estate Tax |
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356 | (3) |
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Examining how your estate tax is calculated |
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357 | (2) |
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Decreasing your estate taxes |
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359 | (1) |
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359 | (4) |
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Making sure you don't overlook certain factors |
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360 | (1) |
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Assessing included assets |
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360 | (3) |
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363 | (8) |
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Considering strategies to lower your estate's value |
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363 | (4) |
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Maximizing tax-free gifts |
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367 | (4) |
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371 | (4) |
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Looking at the marital deduction |
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371 | (1) |
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Understanding portability of the lifetime exemption |
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372 | (1) |
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373 | (2) |
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Choosing Family Estate Strategies |
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375 | (5) |
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375 | (1) |
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376 | (1) |
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Taking advantage of marital deduction trusts |
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377 | (1) |
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Putting the strategies together |
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378 | (2) |
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Contemplating Life Insurance |
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380 | (2) |
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Paying obligations with life insurance |
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380 | (1) |
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Purchasing life insurance to enhance inheritances |
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381 | (1) |
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Avoiding the Tax on Gifts to Grandkids: The GSTT |
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382 | (3) |
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Chapter 16 Focusing on Estate Taxes and the Many Types of Trusts |
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385 | (16) |
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Identifying the Cast of Characters |
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386 | (1) |
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Naming the Types of Trusts |
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387 | (4) |
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Looking at when trusts take effect |
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388 | (1) |
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Revoking or retaining rights |
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388 | (1) |
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Determining how income is distributed |
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389 | (1) |
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Addressing the trustee's powers |
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390 | (1) |
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Using Trusts in Estate Planning |
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391 | (12) |
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Donating to charity with charitable trusts |
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392 | (2) |
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Opting for retained income trusts |
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394 | (1) |
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Taking care of special needs with SNTs |
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395 | (2) |
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Spreading the wealth through dynasty trusts |
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397 | (1) |
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Creating life insurance trusts |
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398 | (3) |
| Part 5: The Part Of Tens |
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401 | (28) |
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Chapter 17 Ten Common Retirement and Estate Planning Mistakes |
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403 | (12) |
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Not Having at Least a Basic Financial Plan |
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404 | (1) |
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Procrastinating about Estate Planning |
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404 | (2) |
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Underestimating Life Expectancy |
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406 | (1) |
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407 | (1) |
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Believing You'll Retire When You Expected To |
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408 | (1) |
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Ignoring Nonfinancial Planning |
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409 | (1) |
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Failing to Coordinate with Your Spouse |
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410 | (1) |
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Expecting to Age in Place |
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411 | (1) |
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Thinking Most Medical Expenses Will Be Covered |
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412 | (1) |
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Missing the Initial Enrollment for Medicare Plans |
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413 | (2) |
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Chapter 18 Ten Things to Know about Working in Retirement |
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415 | (8) |
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Some Work Is Good for You |
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416 | (1) |
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The Social Security (Tax) Impact Can Be Huge |
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417 | (1) |
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Number Crunching Can Show You How Different Scenarios Work |
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418 | (1) |
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Life Is Short and You Owe It to Yourself to Do What You Love |
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418 | (1) |
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Investing in Education Can Boost Your Employment Value |
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419 | (1) |
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Some Employers Are More User-Friendly for Older Workers |
|
|
419 | (1) |
|
Taking Some Employment Risk Is Important |
|
|
420 | (1) |
|
Starting/Buying a Small Business May Be a Rewarding Option |
|
|
420 | (1) |
|
Your Spouse May Not Want What You Want |
|
|
421 | (1) |
|
Volunteering Makes You Happy and Benefits Your Community |
|
|
421 | (2) |
|
Chapter 19 Ten (or So) Tips to Know about Caring for Your Aging Parents |
|
|
423 | (6) |
|
Leverage Off Others' Experiences |
|
|
424 | (1) |
|
Ask for Professional Help |
|
|
424 | (1) |
|
|
|
425 | (1) |
|
Get Your Parents' Affairs in Order |
|
|
425 | (1) |
|
Examine Housing and Medical Care Options |
|
|
426 | (1) |
|
|
|
426 | (1) |
|
Separate Living Spaces if Parents Are Going to Move In |
|
|
427 | (1) |
|
|
|
428 | (1) |
|
|
|
428 | (1) |
| Index |
|
429 | |
Lisainfo e-raamatute kohta