The Financial Briefing: Answers To Life's Most Important Money Questions

The Financial Briefing: Answers To Life's Most Important Money Questions

by Eric Hutchinson

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Product Details

ISBN-13: 9781599326597
Publisher: Advantage Media Group
Publication date: 05/06/2016
Pages: 232
Product dimensions: 5.90(w) x 8.80(h) x 0.70(d)

About the Author

ERIC HUTCHINSON, CFP®, has over thirty years of experience in the areas of financial planning,
investments, estate planning, and tax planning. In addition to practicing as a financial planner, Eric is a speaker, author, and frequent television guest on both national and local platforms. He currently serves on several nonprofit boards, including the
Arkansas Community Foundation; is active in church, community,
and professional organizations; and is a graduate of Arkansas State
Chamber of Commerce Leadership Institute. Eric’s joy is working with families to help them manage financial affairs and ultimately make their dreams a reality.

Table of Contents

Dedication i

Acknowledgments iii

Preface v

Introduction vii

Finance 101: Laying the Foundation

I Budgeting and Saving Basics

Ch. 1 How Do I Make a Personal Budget and Stick to It? 3

Ch. 2 How Do I Improve My Credit Score? 9

Ch. 3 How Do I Begin Saving and Investing? 15

Ch. 4 How Can I Grow My Savings? 19

Ch. 5 How Can I Teach My Children Healthy Saving Habits? 23

Ch. 6 How Can I Help My Child or Grandchild Save for College? 27

II Planning Basics

Ch. 7 How Do I Begin Developing a Personal Financial Plan? 31

Ch. 8 What Should My Personal Financial Plan Include? 35

Ch. 9 How Do I Locate a Qualified Financial Planner? 39

Ch. 10 What Questions Should I Ask Before Selecting a Financial Planner? 41

Ch. 11 How Often Should I Update My Personal Financial Plan? 47

Finance 102: Common Scenario Planning

I Planning for Unexpected Change

Ch. 12 Do I Have the Right Insurance Coverage? 51

Ch. 13 How Do I Respond in the Event of a Health Crisis? 57

Ch. 14 What about Disability and Life Insurance? 61

Ch. 15 What Should I Know about Long-Term Care? 67

Ch. 16 How Can I Help Older Relatives Articulate Their Long-Term Care Wishes? 75

II Planning for Growth and Prosperity

Ch. 17 What's the Difference between Growth- and Income-Oriented Investments? 85

Ch. 18 How Do I Narrow My Investment Options? 93

Ch. 19 What's a Municipal Bond, and How Do I Choose One Wisely? 95

Ch. 20 How Do I Appropriately Allocate My Assets? 99

Ch. 21 Should I Take an Active or Passive Approach to Managing My Portfolio? 111

Ch. 22 What's My Real Rate of Return? 113

Ch. 23 How Can I Win with My Investments Over Time? 117

Ch. 24 What Types of Mutual Funds Should I Buy? 121

III Planning for Taxes

Ch. 25 What Should I Do with the Money in My 401 (k), 403(b), or Other Participant-Directed Account? 129

Ch. 26 Do I Need to Take Money out of My Retirement Accounts after Seventy? 139

Ch. 27 Do I Have to Pay Taxes on Money I Withdraw from an IRA Account? 141

IV Planning for the Next Generation

Ch. 28 Do I Need an Estate Plan? 147

Ch. 29 Should I Draft a Will, a Trust, or Both? 149

Ch. 30 What are the Benefits of Using Trusts to Distribute My Estate? 151

Ch. 31 Do I Need a Living Will? 155

Ch. 32 Who Should Manage My Affairs If I Become Incapacitated? 157

Ch. 33 How Can I Make Sure Death Benefit Proceeds Aren't Taxed as Part of My Estate? 159

Ch. 34 How Can I Prevent Discord Among Family Members as My Estate is Distributed? 163

Ch. 35 What Documents Should I Prepare in Addition to My Estate Plan? 165

Ch. 36 How Often Should I Review My Estate Plan? 169

V Planning for Retirement

Ch. 37 How Does Inflation Impact My Retirement Income? 175

Ch. 38 Should I Assign Beneficiary Designations for My Retirement Accounts? 177

Ch. 39 How Do I Transfer a Retirement Account? 181

Ch. 40 How Do I Get the Most from My Retirement Accounts? 185

Ch. 41 What Should I Know about the Default Investments in My 401(k) or 403(b) Plan? 193

Ch. 42 Should I Take Social Security Before "Normal" Retirement Age? 197

Ch. 43 How Much Should I Withdraw from My Retirement Account? 199

Ch. 44 How Should I Downsize an Empty Nest? 205

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