Baby Boomer Survival Guide, Second
Autor Nick J. Tateen Limba Engleză Paperback – 14 apr 2021
Fully updated and revised survival guide – including up-to-date changes due to life with Covid-19 – for Baby Boomer generation entering retirement!
Baby Boomer Survival Guide, Second Edition: Live, Prosper, and Thrive in Your Retirement is the premier roadmap to retirement for anyone focused on financial security. This is a comprehensive, easy-to-understand guide that covers all the significant financial, healthcare, and lifestyle-related considerations today's Baby Boomer generation needs to know.
This essential happiness handbook to financial & health security includes key topics:
- How to Live a Long, Happy, Healthy Life
- Expanding Your Interests, Hobbies, Social Network, Community Involvement & Quality Time with Family
- Where to Live & Where to Travel
- What to Do With Your Extra Years
- Strategies for Not Outliving Your Savings
- Financial Planning and Investing: Rules for Success
- Taking Advantage of the Trump Tax Cuts
- Homeownership vs. “Real Estate” & Renting vs. Buying
- WORKING in Retirement
- Social Security Optimization Strategies
- Having a Medicare Game Plan
- Key Questions and Answers to Long-Term Care
- Why You Should Think About Inheritance
- Wills, Trusts & Taking Care of Your Family
A little planning and foresight can go a long way toward making sure your hopes and ideals for retirement don’t collide with harsh economic, financial, and health-related realities. Baby Boomer Survival Guide will give you the wherewithal to make your retirement the rich-est, most fulfilling chapter in the book of your life — for yourself and your loved ones.
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Specificații
ISBN-13: 9781630061555
ISBN-10: 1630061557
Pagini: 352
Dimensiuni: 178 x 254 x 26 mm
Greutate: 0.66 kg
Editura: Humanix Books
ISBN-10: 1630061557
Pagini: 352
Dimensiuni: 178 x 254 x 26 mm
Greutate: 0.66 kg
Editura: Humanix Books
Notă biografică
Barbara Rockefelleris founder of foreign exchange forecasting firm Rockefeller Treasury Services, has over twenty years of financial institution experience in all aspects of foreign exchange, including trading, analysis, and risk management. She has a Bachelor’s Degree from Reed College in Portland, OR, and a Master’s in International Affairs from Columbia University in New York City. Rockefeller has authored four books, and writes a monthly column for Currency Trader, as well as articles and book reviews for Active Trader and Stocks, Futures, & Options. She lives and works in the Washington DC metro area. https://rts-forex.com/
Cuprins
Baby Boomer Survival Guide, Second Edition: Live, Prosper, and Thrive in Your Retirement
Table of Contents
Introduction..................................................................xv
PART I - Financial Decisions by Barbara Rockefeller
Chapter 1......................................................................3
Getting Started: Taking Stock
- You are Not Alone...............................................5
- Baby Boomer Worries.........................................5
- Will You Outlive Your Savings?...........................6
- How Much Do You Need?.....................................9
- The Monster under the Bed: Long-Term Care......11
- Homelessness.....................................................12
- The Solution.......................................................15
- Calculating the Cost of Retirement......................19
- Planning..............................................................20
Chapter 2.......................................................................25
Retirement Age
- Longevity.............................................................25
- What to Do With Your Extra Years........................26
- Retiring Early Is Dangerous to Your Health..........28
- Who Do You Want to Become?..............................30
- Working After Retirement.....................................30
- Changing Jobs Before Retirement.........................32
- Starting Your Own Business after Retirement.......35
- Resources.............................................................38
Chapter 3...............................................................................41
Social Security
- The Real Social Security Problem.................................44
- Final Debunking...........................................................45
- How it Works in Practice..............................................46
- How Your Social Security Benefit is Calculated.............47
- The Best Age to Apply..................................................50
- Monthly Benefits at Retirement Age.............................51
- Cumulative Benefits by Retirement Start Age...............51
- The Breakeven.............................................................51
- Spousal Benefit............................................................52
- If You Are Single..........................................................53
- Cost-of-Living Adjustments (COLA)..............................56
- Social Security Optimization Strategies........................58
- 62/70 Strategy...................................................58
- Double Dipping...................................................58
- File and Suspend................................................59
- Start-Over Strategy............................................59
- Working and Social Security.........................................60
- Taxing Social Security...................................................61
- Social Security Disability Benefit Claims on the Rise.....62
- Other Aspects of Social Security...................................63
- Homeownership vs. "Real Estate".................................68
- Cashing Out..................................................................70
- Reverse Mortgages.......................................................72
- How Do Reverse Mortgages Work?......................72
- A Family Affair..............................................................74
- Downsizing...................................................................75
- Managing the Real Estate Broker..................................76
- Renting vs. Buying........................................................79
- Boomer Mobility............................................................81
- On Retiring Abroad........................................................87
- So You're Determined to Take The Plunge.....................89
- Real Estate/Housing............................................89
- Healthcare...........................................................90
- Crime and Violence..............................................91
Chapter 5.................................................................................95
Inheritance
- Why Do We Have Inheritance and Estate Taxes?............96
- Federal Estate Tax..........................................................99
- Portability......................................................................100
- Here's How It Works......................................................100
- State Inheritance Taxes.................................................101
- The Gift Tax and Exemptions..........................................102
- Why You Should Think About Inheritance......................103
Chapter 6.................................................................................107
Wills and Trusts
- Why Do People Fail to Prepare for the Inevitable?..........108
- Dying Without a Will.......................................................108
- The Essence of a Will......................................................111
- Writing a Will..................................................................111
- Changing and Revoking Your Will....................................113
- Contesting a Will.............................................................115
- Do You Need a Living Trust, Too?....................................117
- What is a Revocable Living Trust?.........................117
- Advantages of a Living Trust.................................119
- Disadvantages of a Living Trust.............................120
- Special Trust Cases................................................121
- Generation-Skipping Trusts (GST)...................................122
- Credit Shelter Trust (CST)................................................122
- Charitable Remainder Trusts............................................123
- Private Foundations.........................................................124
- Fiduciary Duty..................................................................125
- Rule 1: Achieve Basic Financial Literacy............................131
- Rule 2: It's Not Savings Unless It's a Savings Account......133
- Rule 3: Only Greater Risk Boosts Return...........................134
- Rule 4: Leverage Boosts Return but Increases Risk...........135
- Rule 5: Seeking Risk On Purpose.......................................137
- Rule 6: Avoid Catastrophic Losses, Part 1..........................140
- Rule 7: Avoid Catastrophic Losses, Part 2..........................142
- Rule 8: Learn to Look at Charts.........................................144
- Rule 9: Conventional Wisdom is (Probably) Bunk..............145
- Rule 10: Options................................................................146
- Rule 11: Avoid Fraud and Scams........................................151
- Avoiding Bad Investments:
- Advice from Credit Analysts.....................................154
Chapter 8.....................................................................................157
Financial Planning
- Planning vs. Advising.........................................................159
- Credentials.........................................................................160
- Do Your Homework............................................................162
- Retirement Investment Mentors.........................................165
- Retirement Coaches............................................................165
- Components of a Retirement Plan.......................................166
- Measuring Outgo.................................................................166
- Measuring Income...............................................................169
- Putting Income and Outgo Together....................................170
- The 4 Percent Rule...............................................................171
Part II - Considerations for Quality of Life by Nick J. Tate
Chapter 9...............................................................................................................175
The Long and Winding Road to Long-Term Care
- 7 Key Questions and Answers to Long-Term Care.........................................177
- No. 1: What Is Long-Term Care?.........................................................178
- No. 2: Is Such Care Pricey?.................................................................178
- No. 3: How Much Do Long-Term Insurance Policies Cost?...................179
- No. 4: Is Insurance The Only Option?.................................................180
- No. 5: Won't Medicare Pay for Some Long-Term Care?........................182
- No. 6: What about Medicaid?..............................................................183
- No 7: How Can You Tell if You're Likely to Need Long-Term Care?......184
Chapter 10..............................................................................................................................................................................187
The Silver Tsunami
- The Politics of Medicare.................................................................................................................................................189
- The IPAB: "Death Panel" or Expert Board of Directors?................................................................................................ 191
- "Premium Support" Payments:
- Voucher Program?...............................................................................................................................................192
- Coming up with a Medicare Game Plan...........................................................................................................................192
- No. 1: Who Is Covered by Medicare?....................................................................................................................193
- No. 2: What Are the Primary Elements of Medicare?.............................................................................................193
- No. 3: Do You Even Need Medicare?.....................................................................................................................196
- No. 4: Should You Stick With Your Current Medicare Plan?...................................................................................197
- No. 5: What Type of Plan Works Best for You and Your Budget?...........................................................................197
- No. 6: Do You Qualify for a Discount?...................................................................................................................198
- No. 7: When Can You Sign Up?.............................................................................................................................198
- No. 8: Are There Certain Rules and Restrictions for First-Time Enrollees?............................................................199
- No. 9: What If You Don't Like Your Plan?..................................... 199
- No. 10: What Is the "Donut Hole" in Prescription Drug Coverage, and Is It Really Closing Under Obamacare?.....199
- No. 11: What Is Supplemental Medicare Coverage and Do You Need It?...............................................................200
- No. 12: Where Can You Get Unbiased Help and Information?................................................................................203
- No. 13: Will Cuts To Medicare Advantage Doom the Program?..............................................................................204
- No. 14: Is a Stand-Alone Medicare Part D Drug Plan Right For You?......................................................................206
- No. 15: Medicare Scams And How To Avoid Them.................................................................................................209
Chapter 11........................................................................................................................................................................213
Thinking Through the Unthinkable
- No. 1: What Is a Living Will?....................................................................................................................................215
- No. 2: What Is a Healthcare Proxy?.........................................................................................................................216
- No. 3: Can Your Medical POA Be a Non-Relative?.....................................................................................................217
- No. 4: What Treatments Would You Want - and Not Want?.....................................................................................218
- No. 5: Why Do You Need to Put It in Writing?..........................................................................................................220
- No. 6: Should You Update Your Advance Directives Periodically?.............................................................................221
- No. 7: Can Your Healthcare-Related Documents Be Invalidated or Challenged as Faulty?........................................222
- No. 8: Can Your Doctor Refuse Any of Your Advance Directives?..............................................................................222
- No. 9: Are There Other Documents You Might Need to Be Sure Your Wishes Are Carried Out After You're Gone?.....222
- No. 10: How Can You Help an Older Parent or Relative Make Similar Plans?.............................................................223
Chapter 12........................................................................................................227
The Lifelong Journey to Health
- Data from the Experts.............................................................................228
- Some Hopeful Signs................................................................................231
- Prescriptions for Health..........................................................................232
- Screening Recommendations for Men and Women of All Ages.................233
- Avoid Tobacco...............................................................................233
- Limit Alcohol.................................................................................233
- Maintain a Healthy Weight............................................................233
- Eat Healthy...................................................................................234
- Get Moving....................................................................................234
- The "Goldilocks Effect" for Heart Rate...........................................235
- Get Regular Physical Exams..........................................................236
- Do Something to Manage Stress and Get a Good Night's Sleep......236
- Screening Recommendations As You Age................................................237
- Men: 40 and Older.........................................................................237
- Women: 40 and Older....................................................................238
- Both sexes: 40 and Older...............................................................239
- Men: 50 to 65.................................................................................239
- Women: 50 to 65............................................................................239
- Both sexes: 50 to 65.......................................................................240
- Men and Women: Over 65...............................................................241
- Beyond the "Big C"...................................................................................241
- Minding Your Mental Health......................................................................244
- 5 Rules to Live By.....................................................................................245
- No 1: Exercise.................................................................................245
- No 2: Weight Control.......................................................................247
- No 3: Mental Challenges..................................................................248
- No 4: Social Interactions.................................................................251
- No 5: Cut Down onStress.................................................................252
- Beware of Bogus Cancer Cures..................................................................255
- Will You Live to 100?.................................................................................258
- Move more, eat less.........................................................................258
- Banish stress...................................................................................259
- Rest up............................................................................................259
- Follow your bliss..............................................................................259
- Learn new things.............................................................................259
Chapter 13.................................................................................................................................263
** NEW Healthcare: What Boomers Need to Know
- What Are the Smartest Ways to Budget and Plan for Healthcare Costs in Retirement?.....272
- Explore Health Savings Accounts......................................................................................273
- Consider Long-Term Care Insurance.................................................................................274
- Resolve to Stay Healthy....................................................................................................274
- Manage Any Chronic Conditions You Have.........................................................................274
- Become a Comparison Health Shopper..............................................................................274
- Itemize Medical Deductions on Your Taxes........................................................................275
- Save on Drug Costs...........................................................................................................275
- Investigate Insurance Rebates..........................................................................................275
- Look into Employer Wellness Programs.............................................................................276
- Other Savings Options.......................................................................................................276
- Healthcare Spending Skyrocketing.....................................................................................276
- Avoiding Scams.................................................................................................................278
- Fraudulent O Websites......................................................................................................278
- Medicare Scare Ploys.........................................................................................................279
Chapter 14...................................................................................................................................281
Quality of Life by Barbara Rockefeller and Nick J. Tate
- One Size Does Not Fit All...................................................................................................286
- Best Places to Live............................................................................................................287
- Staying Connected............................................................................................................288
- Volunteer..........................................................................................................................289
- Groups and clubs..............................................................................................................290
- Don't Neglect Your Physical Health...................................................................................290
- Dating over 50..................................................................................................................291
- Adopt a pet.......................................................................................................................291
- Time Well-Spent...............................................................................................................292
- Living Long and Healthy....................................................................................................293
- Lessons from Centenarians...............................................................................................293
- Strive for Balance..............................................................................................................296
Afterword....................................................................................................................................299
Appendix A:.................................................................................................................................301
Unbiased Resources
- State Health Insurance Assistance Programs (SHIP) by State............................................302
- Patient Advocates, Insurance Ombudsmen by State...........................................................309
Appendix B......................................................................321
Assisted-Living Facilities and Nursing Homes
- How to Choose an Assisted-Living Facility..............321
- Compare Assisted Living to Home Care.........321
- Research and Visit Prospective Facilities......322
- Calculate Costs.............................................323
- Top 40 Assisted-Living Companies..........................323
- How to Choose a Nursing Home..............................328
- Do Your Homework.......................................328
- Visit Multiple Times.......................................328
- Ask Questions about What You See...............329
- Nation's Best Nursing Homes..................................329
- Additional Resources for Long-Term Care................335
Index................................................................................337
Chapter 7....................................................................................129
Trading and Investing: Rules for Success
Chapter 4................................................................................67
A Place to Call Home in Your Golden Years