Friendly User Guide to Your Retirement Future
Given the current economic situation, this publication is very timely and sorely needed; especially for those who put off thinking about retirement until tomorrow. The author carefully points out that without planning in terms of what works for each of us, we all seem to walk down the street of by-and-by arriving at the house of never-getting-started.
The book is divided into three key sections. Starting with eliminating your debt before you retire, to investing for the future and finally with retirement and what it means to you.
Each of these sections in turn goes into topics about what it takes to accomplish the goal set by the section, such as with eliminating debt; it discusses the topic of credit cards, their use and abuse, and how to remove their painful spell upon us. Other topics in the section include: simplifying your life style by budgeting and making your homestead work for you. This last topic is especially interesting given the current circumstance of falling house values, and the credit crunch. It makes you confront the fact that if what you are earning to live on today is not enough, then how are you going to live on less when you retire without preparing for it?
This leads to the second section about investing for the future. The key term here is ¿future;¿ what has been and where you are today is not as important as where you want to be tomorrow. After reviewing the various types of investments from checking, savings and money market accounts; to CDs and treasuries; to 401(k)¿s and IRA accounts; to investing in stocks along with researching stocks and selecting financial advisors, you are provided with some very sound advice along conventional lines of wisdom.
But, with the recent financial situation much of what is written here needs to be tempered with where you are in regard to your future retirement. If you haven¿t started and you¿re young enough, right now is as good a time as ever. If you are not young but still have time until retirement there are opportunities that need looking into and this section can help you decide what is right for you. Some kind of set-aside should be a part of anyone¿s future plans. The degree to which you commit yourself is based upon your circumstances, financial resource availability and the professional advice you get.
The final section on Retirement and you is worth the whole price of the book. It allows you to confront yourself in terms of what retirement will mean to you and how you attempt to handle it. Each of us has a unique understanding of what it means. This section helps you explore various possibilities, such as retirement overseas. Also, how Social Security, Medicare and Insurance will play a roll in your retirement?
Added values to this book are the planning aids, such as guideline sheets, web sites and other information sources in addition to criteria to select financial advisors. There is also a user friendly glossary to help you understand investment and retirement terminology which often is difficult for those not in the know.
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Overview
Imagine a retirement filled with blue skies, soft sand, and refreshing breezes. Picture yourself spending your days lounging in a hammock and listening to the waves roll onto the shore. You may be thinking that this scenario sounds great but that you cannot afford it. However, that is where you are mistaken. This book shows you how you can achieve your dream retirement without obsessing about saving and without overspending.
As senior citizens age, they tend to go through less money; in fact, the typical over-75 household spent only $25,763 in 2004. This is in direct contrast to financial planners who tell you that you need to save large amounts of money...