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The Retirement Planning Guide helps you navigate the important decisions to prepare for your best retirement. You will have the detailed knowledge and understanding to make smart retirement decisions:
– Understand your personal retirement income style, which can then help you navigate the conflicting opinions on retirement strategies to choose your right path.
– Learn about investment and insurance instruments that may best suit your personal style.
– Determine whether you are financially prepared for retirement by quantifying your financial goals (annual spending, legacy and reserves for the unexpected) and comparing them to your available assets.
– Make smart decisions about when to start Social Security benefits, which could potentially support an additional $100,000 or more in lifetime Social Security income.
– Develop a plan for making the best initial and ongoing choices from the alphabet soup of Medicare options, as well as how to find health coverage if you retire before Medicare eligibility.
– Evaluate where you want to live in retirement and whether there are useful ways to incorporate housing wealth into your retirement strategy.
– Decide how to manage your long-term care risk between self-funding, Medicaid or private insurance, and take steps to live at home as long as possible.
– Understand how to manage your taxes to pay less, avoid common pitfalls, and have more for your lifetime and your legacy. You will be able to apply tax diversification, asset location, tax power management and Roth conversions to improve the sustainability of your retirement assets.
– Get your finances organized and understand how to get your estate and disability planning documents in order, including your will, account titles, beneficiary designations, financial power of attorney, and advance health care directives.
– Identify whether there is a role for trusts in your estate plan for reasons related to avoiding probate, controlling how and when assets are paid out, obtaining creditor protection, or helping manage estate taxes.
– Prepare for the non-financial aspects of retirement, including the need to find purpose and passion, to understand whether there is a role for work in retirement, to improve relationships and social connections, and to have a maintain an active and healthy lifestyle.
Retirement has a whole vocabulary that comes with it. We will cover the 4% rule, sequence of return risk, time segmentation and buckets, reverse mortgages, income annuities, variable annuities, fixed index annuities, long-term care insurance, living trusts, irrevocable trusts, budgeting, the funded ratio, Medicare Advantage, Medicare supplements, diversified investment portfolios, Roth conversions, the dangers of the Social Security tax torpedo and increased Medicare premiums, buffer assets, 401(k) plans and IRAs, the rollover decision, distribution options for defined benefit company pensions, required minimum distributions, qualified charitable distributions , aging in place, cognitive decline, and so much more.
The Retirement Planning Guide does not miss important matters. This is a comprehensive look at the key retirement decisions to achieve financial and non-financial success. You will have the foundation to make the most of your retirement years, and I hope you will be able to do something great!
ASIN : B0BYMM2LYD
Publisher : Retirement Researcher Media; 2nd edition (March 15, 2023)
Publication date: March 15, 2023
Language: English
File size: 5322 KB
Concurrent device usage: Unlimited
Text-to-speech : Enabled
Screen reader: Supported
Improved Typing: Enabled
X-Ray: Activated
Word Wise: Enabled
Sticky Notes: On Kindle Scribe
Print length: 502 pages
Page numbers source ISBN : 1945640170
