The AARP Retirement Survival Guide: How to Make Smart Financial Decisions in Good Times and Bad
Named by Booklist (The American Library Association) to its Top 10 Business Book List for 2010***\ Winner of the 2010 EIFLE Award for Excellence in Financial Literacy Education Winner of the 2010 International Book Award for Personal Finance Winner of the 2010 National Best Books Award for Personal Finance\ “I promise you this: if you have never invested, never read an investment book, or never worked with a financial adviser, you will not be left behind. No matter who you are or what steps...
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“I promise you this: if you have never invested, never read an investment book, or never worked with a financial adviser, you will not be left behind. No matter who you are or what steps you have or have not taken up to this point, there is always something you can do to improve your situation.” – Julie Jason, from the IntroductionBank bailouts. Ponzi schemes. Plunging financial markets. Given today’s dire headlines, planning a secure retirement has become a more crtical task than ever. Now, for Americans seeking safety and stability in a time of wrenching economic change, comes investment educator Julie Jason with this no-nonsense guide offering time-tested, rock-solid retirement advice for people of every income level. In addition to showing those on the verge of retirement how to create their own “personal pension,” Jason deftly guides prospective retirees through the otherwise bewildering process of evaluating their needs, anticipating future expenses (and managing current ones), and converting present assets into future retirement income. To achieve this goal, she assembles—and shares with the reader—an entire tool kit of self-assessments, tables, checklists, and essential questions.“A fast read on a difficult-to-follow subject. In these tougher times, a guide like this becomes an even more invaluable tool.” —Jonathan Dahl, Editor in Chief, SmartMoney “Hard-working Americans need a road map through today's bewildering financial world. From the basics of financial planning to understanding how to secure a dignified retirement, Julie Jason has provided a financial GPS for attaining your goals.” —Joseph Borg, Director, Alabama Securities Commission “Whether you’re a do-it-yourself investor or want a professional to help you, The AARP Retirement Survival Guide spells out what you need to consider and understand to make informed retirement-income planning decisions.” —Betty Meredith, InFRE Retirement Resource Center"The AARP brand works extraordinarily well in providing valuable and objective information that readers can put to good use immediately...Case in point: author...and investment counsel Jason thoroughly, accurately reviews the state of retirement 2009 with full consideration of our current economy. That state includes a solid grounding in the basics...What’s unusual is her factual analysis of CDs (featuring a checklist), reverse mortgages, annuities in all shapes and forms (e.g., immediate, equity-indexed, fixed), and guaranteed minimum benefits (in the forms of withdrawal and income benefits). In fact, it’s well worth the book’s cover price to delve into these somewhat arcane financial instruments if only because the author posits, in plain English, the ups and downs...If that isn’t clear enough, she creates a fictional case study with numbers and charts, accompanied by a straightforward assessment on ease of understanding, complexity, risks, safety, costs and taxes, and the salesperson’s motivation. That approach characterizes all of the chapters, whether on tax-deferred accounts or sales scams to avoid. Resources and research cinch the deal to consider this top of the borrower’s pile." —Booklist Library Journal These two books are very different in format—Solin (The Smartest Investment Book You'll Ever Read) offers short chapters on a variety of retirement subjects, each concluding with a pithy summarization, while Jason (principal, Jackson, Grant Investment Advisers, Inc.) gives a more explanatory dissertation. But both are clearly written and easy to understand, tackling such topics as stocks, bonds, annuities, pensions, and cash withdrawal strategies (although Solin's book offers a handy section on care costs, Jason's does not). Jason's will be better for readers not as familiar with basic finance concepts, while Solin's may appeal to a more financially literate crowd.
Introduction viiPart I Understanding the BasicsChapter 1 Achieving a Secure Retirement 3Chapter 2 Your Personal Cash Flow 13Chapter 3 Sources of Retirement Income 23Chapter 4 Income from Social Security 33Chapter 5 Will Your Money Last as Long as You Do? 47Chapter 6 Can You Improve Your Situation? 61Chapter 7 Enter the Financial Adviser 75Part II Security for Sale: Evaluating Retirement-Income ProductsChapter 8 Guaranteed Lifelong Income 95Chapter 9 Creating Your Own Personal Pension 105Chapter 10 The Promise of Gain with No Pain: Equity-Indexed or Fixed Annuities 123Chapter 11 It's Not Too Late to Catch Up: The Guaranteed Minimum Income Benefit 139Chapter 12 Guaranteed Withdrawals So You Don't Run Out of Money: The Guaranteed Minimum Withdrawal Benefit, or GMWB 161Chapter 13 Certificates of Deposit: Not All CDs Are Created Equal 177Chapter 14 Cashing Out of Your Home 189Part III Investing in Your Future: Retirement-Income Planning and the MarketsChapter 15 Tax-Deferred Account Decisions 205Chapter 16 Making the Markets Work for You 219Part IV Pulling It All Together: Uncle Sam, Your Adviser, and YouChapter 17 Taxes in Retirement 239Chapter 18 Taking Money Out of IRAs and Other Tax-Deferred Accounts 251Chapter 19 Sales Tactics, Scams, and Bad Advice: A "Perfect Storm" for Retirees 261Chapter 20 Finding an Adviser Who Is Right for You 275Chapter 21 The Finish Line 287Part V More Retirement ResourcesAppendix A Prospective Adviser Notepad 299Appendix B Client Reference Notepad 300Appendix C Quick-Test Factors for Different Retirement Periods and Rates of Return301Appendix D Retirement Income Management: A Case Study 302Appendix E AARP Resources 323Acknowledgments 324About the Author 326Index 327
\ Library JournalThese two books are very different in format—Solin (The Smartest Investment Book You'll Ever Read) offers short chapters on a variety of retirement subjects, each concluding with a pithy summarization, while Jason (principal, Jackson, Grant Investment Advisers, Inc.) gives a more explanatory dissertation. But both are clearly written and easy to understand, tackling such topics as stocks, bonds, annuities, pensions, and cash withdrawal strategies (although Solin's book offers a handy section on care costs, Jason's does not). Jason's will be better for readers not as familiar with basic finance concepts, while Solin's may appeal to a more financially literate crowd.\ \
