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Introduction | |
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Your Retirement Needs | |
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Confronting Retirement Realities | |
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Increasing Life Spans | |
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Retirement Stages | |
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Demographic Trends | |
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Sandwich Generation | |
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Divorce | |
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Retirement Gender Gap | |
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Disability | |
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Benefit Cutbacks | |
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Employer Cutbacks | |
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Government Benefit Cutbacks | |
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Economic Trends | |
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Shift to Personal Responsibility | |
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Hour's Up! | |
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Envisioning Your Retirement | |
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Decide When | |
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The Cost of When | |
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When to Say When | |
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Decide Where | |
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Location Considerations | |
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Location Choices | |
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Decide About Working Part-Time | |
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Decide on Leisure and Travel Goals | |
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Decide on Your Overall Living Standard | |
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Hour's Up! | |
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Quantifying Retirment Costs | |
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Estimate Food and Shelter Costs | |
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Active Adult Retirement Communities (AARC) | |
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Continuing Care Retirement Communities (CCRC) | |
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Concentrated Retirement Care Living Options | |
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Homeowner's Insurance | |
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Estimate Healthcare Costs | |
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Estimate Leisure and Travel Costs | |
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Estimate Other Recurring Budget Items | |
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Personal Care | |
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Clothing and Local Transportation | |
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Professional Services and Insurance | |
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Taxes and Lump-Sum Expenses | |
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Combine Estimates into Total Budget | |
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Hour's Up! | |
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Quantifying Retirement Assets | |
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Your Financial Assets | |
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Inventory Cash-Equivalent Savings | |
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Inventory Market and Insurance Investments | |
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Inventory Personal Retirement Assets | |
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Inventory Employer Retirement Benefits | |
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Inventory Government (Aided) Retirement Benefits | |
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Inventory Home Equity, Real Estate | |
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Inventory Property, Collectibles, Business Value | |
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Inventory Potential Gifts and Inheritance | |
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Understand Your Liabilities | |
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Your Retirement-Ready Net Worth | |
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Compile Your Inventory | |
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What You Can Do Now | |
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Hour's Up! | |
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Your Retirement Gap | |
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Retirement Finance Basics | |
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Understand Inflation and Interest Rates | |
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Return on Investment | |
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Rate of Return | |
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Historical Rate-of-Return Yardsticks | |
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Understand Taxation Basics | |
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Understand After-Tax Cash Flow | |
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Understand Time Value of Money | |
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Understand Estimation and Assumption | |
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Hour's Up! | |
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Retirement Gap Calculation | |
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Understanding the Retirement Gap Concept | |
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Financial Formulas Used in Calculations | |
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Inflation | |
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Investment Return | |
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Synchronize for Growth with Inflation | |
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Retirement Need Gap Calculation | |
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Hour's Up! | |
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Introduction to Retirement Gap Calculation | |
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Setting the Stage | |
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Preparing the Worksheets | |
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Retirement Need Gap Calculation Procedure | |
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Calculating Your Own Retirement Gap | |
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Hour's Up! | |
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Retirement Gap Solutions | |
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Budgeting Basics | |
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Investing Basics | |
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Utilize Tax Reduction/Deferral Basics | |
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Benefit Utilization Basics | |
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Understand Dual-Purpose Resources | |
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Your Home | |
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Tax-Deferred Retirement Savings | |
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Invest in Your Earning Potential | |
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What Can You Do? | |
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Hour's Up! | |
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Employment/Government Plans | |
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Social Security | |
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Understand Contributions and Eligibility | |
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Estimate Standard Benefit | |
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Evaluate Early/Delayed Benefit Options | |
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Early Retirement | |
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Delayed Retirement | |
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Estimate Supplementary Income Effects | |
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Evaluate Taxation of Benefits | |
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Anticipate Social Security Trends/Revisions | |
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Hour's Up! | |
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401 (k) and Related Plans | |
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Defined-Contribution Salary-Reduction Plans | |
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A Closer Look at 401 (k)s | |
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A Closer Look at 403 (b)s | |
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Employer and Employee Contributions | |
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Contribution and Investment (Re)Allocations | |
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Allocation Alternatives | |
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Allocation Rules | |
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Income-Tax Impacts | |
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Rules: Vesting, Borrowing, Withdrawals, Portability | |
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Borrowing from Your 401 (k) | |
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Plan Trends and Your Rights | |
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Your Rights | |
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Hour's Up! | |
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Small Business/Self-Employed Plans | |
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Understand SEP-IRA, SIMPLE IRA, and Keogh Basics | |
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SEP-IRAs | |
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SIMPLE IRAs | |
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Keogh Plans | |
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Income Tax Impacts | |
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Understand Vesting, Withdrawals, and Portability | |
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Comparison of Small Business/Self-Employed Plans | |
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Hour's Up! | |
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Defined-Benefit and Federal Pension Plans | |
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Traditional Defined-Benefit Pensions | |
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Cash-Balance Defined-Benefit Pensions | |
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Pension Politics: Controversial Conversions | |
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Normal and Early Retirement Options | |
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Employee Rights and Pension Trends | |
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Pension Trends | |
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U.S. Federal Employee Pensions | |
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Two Retirement Systems | |
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Thrift Savings Plan | |
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Hour's Up! | |
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Traditional/Roth IRAs | |
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IRA Eligibility and Contribution Basics | |
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Tax-Deductible IRA Eligibility and Contributions | |
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Roth IRA Eligibility and Contributions | |
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Non-Tax-Deductible IRA Eligibility and Contributions | |
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Common Rules | |
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IRA Withdrawal Rules | |
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Rollovers and Roth Conversions | |
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Compare IRA Alternatives | |
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Understand Investment Alternatives | |
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Plan Trends | |
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Hour's Up! | |
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Medicare and Private Supplementary Insurance | |
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The Medicare Problem | |
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Understand Medicare Basics | |
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Understand the Enrollment Window | |
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Understand Medicare Reimbursement | |
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Understand Private Supplementary Insurance (Medigap) | |
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Understand Shopping for Supplementary Insurance | |
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Understand Long-Term-Care Insurance | |
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Hour's Up! | |
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Assembling the Plan | |
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Integrating Retirement Sources | |
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Build a Long-Term Investment Portfolio | |
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Employer/Government Plan Resources | |
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Other Savings Sources at Work | |
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Profit-Sharing Plans | |
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Employee Stock Ownership Plans (ESOP) | |
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Employee Stock Purchase Plans | |
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Thrift Plans | |
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Employee Stock Options | |
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Variable Universal Life Insurance and Variable Annuities | |
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Other Investments | |
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Collectibles | |
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Home Equity and Other Real Estate | |
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Capital-Based Business Opportunities | |
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Inheritance and Other Windfalls | |
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Hour's Up! | |
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Savings/Spending Priorities | |
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Ration Overall Spending vs. Retirement Saving | |
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Ration House Down Payment vs. Retirement Saving | |
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Ration Debt Payoff vs. Investing | |
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Ration Education vs. Investing | |
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Ration Between Other Choices | |
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Setting Priorities | |
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Insurance vs. Retirement Saving | |
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Hour's Up! | |
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Retirement Road Detours | |
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Expect the Unexpected | |
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Premature Death or Disability | |
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Family Medical Crises | |
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Sudden Benefit Losses | |
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Divorce | |
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Expect the Expected | |
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Family-Need Crunches | |
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Early Retirement and Layoffs | |
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Anticipate/Handle Widow(er)hood | |
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Minimize the Detour Damage | |
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Insurance | |
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Shielding Assets | |
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Hour's Up! | |
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Retirement Plan Management | |
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Changing Jobs | |
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Portability Options | |
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Using the Catch-Up Provisions | |
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Max Out Your Retirement Savings Options | |
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Portfolio Balancing and Investment Reallocation | |
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Early Withdrawal Rules Without Penalty, If You Must | |
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Roth Conversion Strategies | |
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Hour's Up! | |
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Completing the Plan | |
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Determine Planning Parameters | |
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Planning Time Frame | |
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Determine Risk Tolerance by Life Stage | |
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Economic and Investment Assumptions | |
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Investment Amounts and Allocations | |
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Project Contributions to Plans/Investments | |
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Determine Asset Allocation Strategy | |
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Bonds | |
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Stocks | |
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Adjusting Calculations and Assessing Performance | |
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Hour's Up! | |
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Comprehensive Retirement Gap Calculation Example | |
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Setting the Stage | |
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Preparing the Worksheets | |
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Retirement Need Gap Calculation Procedure | |
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Use of Estimations and Assumptions | |
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Hour's Up! | |
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Road to Retirement | |
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Retirement Gap Scenarios | |
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Typical Young Single Situation | |
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Planning Advice | |
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Savings Advice | |
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Typical Young Married Situation | |
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Debt and Houses | |
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Kids | |
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Typical Mid-Life Couple Situation | |
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Typical Divorced Couple Situation | |
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Typical Permanent Single Situation | |
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Pre-Retirees | |
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The Right Financial Advisor | |
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Make Sure They Have Good Qualifications | |
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Find an Advisor with a Compatible Style | |
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Find a Compatible Advisor | |
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Understand How Your Advisor Gets Paid | |
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Have Confidence in the Methods Your Advisor Uses | |
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Hour's Up! | |
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Pre-Retirement Planning | |
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Revist Retirement Scenario | |
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Determine the Attainability of Your Original Goal | |
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Determine Whether Your Objectives Have Changed | |
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Revise Retirement Scenario | |
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Consider Your Current Life Circumstances and Health | |
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Consider Your Desire/Ability to Continue Working | |
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Envision Retirement Life More Realistically | |
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Pre-Retirement Lifestyle and Work Actions | |
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Continuing Work or Starting a Business | |
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Phasing Down or Out of a Business | |
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Pre-Retirement Financial Actions | |
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Restructure Investments for Retirement | |
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Social Security, Medicare, Long-Term Care | |
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Viatical Settlements | |
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Reverse Mortgages | |
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Annuities | |
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Hour's Up! | |
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Managing Retirement Distributions | |
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Pensions | |
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Lump Sums vs. Annuities | |
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Annuity Withdrawal Options | |
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Lump-Sum Withdrawal Options | |
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Pension Plan Errors | |
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All Other Retirement Plans | |
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Understand Differing IRS Withdrawal Rules | |
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Understand Tax Ramifications of Withdrawals | |
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Evaluate Retirement Withdrawal Options | |
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Social Security Rules for Widows and Widowers | |
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Revisiting Your Withdrawal Options Annually | |
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Hour's Up! | |
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Retirement Pitfalls, Shortfalls, and Surpluses | |
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Monitor Your Retirement Plan's Performance | |
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Avoid Ripoff Retirement "Opportunities" | |
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Remarriage and Other Complications | |
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Retirement Dreams Deferred | |
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Retirement Sweet Dreams, for Good | |
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Hour's Up! | |
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Appendixes | |
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20-Minute Recap | |
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Resources | |
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Answers to Quiz Questions | |
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Retirement Gap Data and Calculation Worksheets | |
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Index | |