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The Everything Personal Finance in Your 40s and 50s Book

Book Description

Every day, more than 10,000 people turn forty in the United States, moving toward retirement without traditional pension plans backing them up. Lacking the safety net that protected their parents and grandparents, they’re forced to take the initiative for their own financial security. They need a source of information that doesn’t scare them away with insider jargon and intimidating complications. This book will help those who have felt uninformed, intimidated, or excluded from the process, and will simplify difficult topics like budgeting, investing, paying for college while saving for retirement, and helping kids with debt. People will find the essential tools and resources they need to set a course toward retirement and security at this critical stage in life.

Table of Contents

  1. Cover Page
  2. Title Page
  3. Copyright Page
  4. Dedication
  5. Contents
  6. Top Ten Keys to a Successful Financial Plan
  7. Introduction
  8. 1: It's Never Too Late to Start Planning
    1. The Planning Process
    2. Financial Planning is More Important than Ever
    3. Financial DNA
    4. Assessing Your Situation
    5. Managing Cash
    6. Budgeting Tips and Guidelines
  9. 2: Set Your Goals, then Stay on Track
    1. Where Do You Want to Go from Here?
    2. Planning with Achievable Goals in Mind
    3. Planning in Real Life
    4. Family Money Meetings
    5. Planning for Life Transitions
    6. Technology Makes Planning Easier
  10. 3: Credit and Debt Management
    1. Maintaining Good Credit
    2. Become Debt-Free on Your Own
    3. Getting Help with Debt
    4. Bankruptcy
    5. The Liquidity Solution
  11. 4: Planning for the Unexpected
    1. Life Insurance: Something for Everyone
    2. Health Coverage: Don't Leave Home Without It
    3. Long-Term Care Insurance: Should You Self-Insure?
    4. Disability Insurance
    5. Protect Your Hearth and Home
    6. Auto Coverage
    7. Umbrella Liability
  12. 5: Retirement Income to Fulfill Your Dreams
    1. Career Versus Retirement Lifestyles
    2. Retiring Early into Part-Time Employment
    3. Domestic Relations
    4. Easy Budget Advice
    5. Expenses Change with Time
    6. Making Reasonable Assumptions
    7. Planning with Younger Children
    8. Finding Real-World and Online Advice
  13. 6: Retirement Accounts
    1. Catching Up if You're Over 50
    2. Juggling Your Plans
    3. The Bottom Line: Employer Plans
    4. The Bottom Line: Personal Plans
    5. The Bottom Line: Roth Plans
    6. The Bottom Line: Special IRAs for the Self-Employed
  14. 7: Employer Benefits
    1. Pensions: An Endangered Species
    2. Employee Stock Options: The Hot Incentive
    3. Restricted Stock: Golden Handcuffs
    4. Employee Stock Purchase Plans: Getting Your Share
    5. Comparing Job Offers
    6. Where to Find the Best Advice
  15. 8: Investing 101: Bonds
    1. Investing Your Cash
    2. Understanding the Mechanics-and the Risks
    3. Bond Yields and Taxes
    4. Bond Mutual Funds: Putting a Pro to Work
    5. Index Shares: The Copycat Approach to Investing
    6. Curves Ahead: Yield Curves and Bond Strategies Made Simple
  16. 9: Investing 101: Stocksr
    1. Advantages and Risks of Stock Investing
    2. Foreign Investing
    3. Economics of Stocks: Account Considerations
    4. Stock Mutual Funds
    5. Spiders
    6. Tax Planning with Stocks
  17. 10: Finding the Perfect Investment Recipe
    1. Find Your Risk Tolerance
    2. Online Resources and Trends
    3. Getting Advice: Whom Can You Trust?
    4. Target-Date Funds
    5. Managed Accounts and Money Managers
    6. Annuities
  18. 11: Buying Investments
    1. The Ins and Outs of Buying
    2. What to Look For and How to Compare
    3. Beware the Tax Man
    4. Patching Up Old Mistakes
    5. Keep It Simple: Record-Keeping
  19. 12: Kids and Money
    1. Passing along the Planning Ethic
    2. Grade School Thrift Lessons
    3. Finance and the Adolescent
    4. The First Job
    5. When to Cut the Strings
    6. Kids on Campus
    7. Parent Planning: Balancing Accounts and Assets
    8. Getting a Jump on College
    9. Tweaking the Asset Allocation for College
    10. How Wedding Plans Affect Your Financial Plan
  20. 13: Inheritances and Estate Planning
    1. Do It Right: A Lot Is at Stake
    2. Taking Care of the Basics
    3. Life Insurance: The Right Amount
    4. Keeping the Family in Mind
    5. Leaving an Inheritance: Avoid the Pitfalls
    6. Forewarned: Avoid the Biggest Mistakes
  21. 14: Working for Yourself
    1. A Freelance Approach to Your Career Track
    2. Investing in a Franchise or Buying a Business
    3. Starting a Business
    4. Recovering from the Usual Mistakes
    5. Pricing in Employee Benefits
    6. Keep the Books Straight for Uncle Sam
  22. 15: Real Estate
    1. A Home of Your Own
    2. Planning for the Vacation Home
    3. American Dreamin': Renting Versus Buying
    4. Common Mistakes and Myths
    5. Investing in Real Estate
    6. Helping Your Children Settle Down
  23. 16: Taxes in Your 40s and 50s
    1. Are You Paying Your Fair Share?
    2. Who Says Taxes Are Certain?
    3. Who Needs to File?
    4. Self-Employment Tax Options
    5. How to File: The Right Option for You
    6. The Records You'll Need
  24. 17: The Sandwich Generation: Planning for Parental Care
    1. Starting the Conversation
    2. Elder Law You Need to Know
    3. The Documents You'll Need
    4. Role Reversal and the Family Money Dynamic
    5. Planning for Parents Who Live with You
    6. Is a Reverse Mortgage a Smart Solution?
    7. Medicaid Planning
  25. 18: Do You Need an Advisor?
    1. What You Need in Your Planning Toolkit
    2. Setting Expectations
    3. Advisor Fees and Conflicts
    4. Finding the Perfect Advisor Match
  26. 19: Breaking Up is Hard to Do: Divorce and Separation
    1. Where to Start
    2. Special Advisors
    3. Tax Planning when the Accounts Have to Be Divided
    4. Planning for the Kids
    5. Restarting Your Financial Plan
    6. Dodge the Most Common Financial Blunders
  27. 20: Planning after the Death of a Spouse
    1. The Nuts and Bolts of an Estate Plan
    2. Finding the Right Advisors
    3. Planning Priorities and Timelines
    4. Making the Right Adjustments to Financial Accounts
    5. Collecting the Benefits You're Due
    6. Bringing Children into the Process
  28. Appendix A: Glossary
  29. Appendix B: Web Resources