The Wall Street Journal Guide to Planning Your Financial Future

The Wall Street Journal Guide to Planning Your Financial Future

by Kenneth M. Morris, Alan M. Siegel
     
 

From the time you receive your first paycheck, you're making a down payment on your financial future. The money that's withheld for Social Security and Medicare is designed to provide a basic income - and help pay your health care costs - when you're retired. But there's far more to planning your financial future - and a comfortable retirement - than Social…  See more details below

Overview

From the time you receive your first paycheck, you're making a down payment on your financial future. The money that's withheld for Social Security and Medicare is designed to provide a basic income - and help pay your health care costs - when you're retired. But there's far more to planning your financial future - and a comfortable retirement - than Social Security. Along the way, there are critical decisions to make, numerous options to choose from, and special rules to know about. As well as plenty of baffling words you need to understand. For example, what are the real advantages of investing in a 401(k) or another retirement savings plan? What investments are safest, or most profitable, over the long haul? When do you start withdrawing money from your retirement plan, and how much do you have to take? What is a defined contribution plan? A bypass trust? A reverse mortgage? What does intestate mean? And why do you need to know? In this guide, we've tried to answer these and many other perplexing questions that people face in planning their financial future. Perhaps the biggest question - "When should I start?" - is the easiest to answer: The sooner the better. While it's never too late to start financial planning, thinking ahead when you're in your 20s and 30s can pay you very large dividends in your 60s and 70s - and probably beyond. The earlier you begin to put money away (even in small amounts), invest it for the long term, and know how to protect it, the more you'll have when you need it, or want it. Though we realize there are many lifestyle decisions in planning for retirement, we've focused primarily on the financial issues, since they tend to be the most complex, and the least well understood. Yet they often have the greatest impact.

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Product Details

ISBN-13:
9780684802022
Publisher:
Touchstone
Publication date:
04/04/1995
Edition description:
Older Edition
Pages:
187
Product dimensions:
5.27(w) x 10.24(h) x 0.41(d)

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