Retirement Planning For Dummies

Retirement Planning For Dummies

by Matthew Krantz
Released February 2020
Publisher(s): For Dummies
ISBN: 9781119627579

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Book description

Advice and guidance on planning for retirement

Retirement Planning For Dummies is a one-stop resource to get up to speed on the critical steps needed to ensure you spend your golden years living in the lap of luxury—or at least in the comfort of your own home. 

When attempting to plan for retirement, web searching alone can cause you more headaches than answers, leaving many to feel overwhelmed and defeated. This book takes the guesswork out of the subject and guides readers while they plan the largest financial obligation of their life.

  • Take stock of your finances  
  • Proactively plan for your financial future
  • Seek the help of professionals or go it alone
  • Use online tools to make retirement planning easier

Whether you're just starting out with a 401(k) or you’re a seasoned vet with retirement in your near future, this book helps younger and older generations alike how to plan their retirement.

Table of contents

  1. Cover
  2. Introduction
    1. About This Book
    2. Foolish Assumptions
    3. Icons Used in This Book
    4. Beyond the Book
    5. Where to Go from Here
  3. Part 1: Getting Started
    1. Chapter 1: Retirement Planning Is Up to You
      1. Blazing Your Own Retirement Plan
      2. Measuring Your Lifespan
      3. Retirement Planning Beginnings: The Pension
      4. Changing Times: The 401(k)
      5. Social Security: The De Facto Safety Net
    2. Chapter 2: Determining How Much You Spend
      1. Finding Out Where Your Money Goes
      2. Measuring Your Spending
      3. Putting Your Spending in Context
      4. Improving Your Numbers
    3. Chapter 3: Calculating How Much You Need to Retire
      1. Getting to Know the 4 Percent Rule
      2. Using Online Retirement Calculators
      3. Understanding Why Starting Early Is Important
    4. Chapter 4: Choosing the Right Account
      1. Retirement Planning in a Nutshell
      2. A Great Place to Start: 401(k)s
      3. IRAs: A Cornerstone of Retirement Planning
      4. Self-Employed Plans
      5. What’s the Catch?
    5. Chapter 5: Gauging Your Appetite for Risk
      1. Getting a Handle on Your Risk Tolerance
      2. The ABCs of Asset Classes
    6. Chapter 6: Opening Your Accounts
      1. Getting Your 401(k) Up and Running
      2. Plugging into Your IRA
      3. Connecting with a Financial Planner
  4. Part 2: Using Online Resources
    1. Chapter 7: Managing and Optimizing Your 401(k)
      1. Getting Online
      2. Checking Your Portfolio Allocation
      3. Powering Your 401(k) with Contributions
      4. Discovering Other Nifty Aspects of Your 401(k) Plan Site
    2. Chapter 8: Taking Your IRA to the Next Level
      1. Getting Online with Your IRA Provider
      2. Checking Your Portfolio Asset Allocation
      3. Understanding Your IRA Contributions
      4. Taking Money out of Your IRA
    3. Chapter 9: Optimizing Your Retirement with Third-Party Offerings
      1. Understanding Fees
      2. Examining Your Portfolio Using Morningstar
      3. Putting Your 401(k) Under the BrightScope Microscope
      4. Grading Your Retirement Plans in Other Ways
    4. Chapter 10: Digging into Social Security
      1. Discovering All the Benefits of Social Security
      2. Managing Social Security Information Online
      3. Planning for Social Security in Retirement
  5. Part 3: Maximizing Your Retirement Knowledge
    1. Chapter 11: Balancing Retirement Savings with Other Needs
      1. Cleaning Up Your Personal Balance Sheet
      2. Saving for a Home
      3. Saving for College
    2. Chapter 12: Fine-Tuning Your Asset Allocation
      1. Exploring Stock Strategies
      2. Diving for Income
      3. It’s Easy Being Green: The Rise of ESG
    3. Chapter 13: Keeping Your Retirement on Track
      1. Tracking Your Portfolio’s Health
      2. Tracking and Updating Your Goals
    4. Chapter 14: Gearing Up for Retirement
      1. Creating a Retirement Budget
      2. Thinking about Annuities
      3. Unlocking a Goldmine: Reverse Mortgage
    5. Chapter 15: Understanding Pensions
      1. Checking a Private Pension's Funding
      2. Understanding the Problems with Public Pensions
      3. Understanding Pensions Inside-Out
      4. Managing Your Pension
    6. Chapter 16: Getting Insurance
      1. Building a Health Insurance Plan
      2. Defending Your Money with Insurance
  6. Part 4: The Part of Tens
    1. Chapter 17: Top Ten Retirement Mistakes
      1. Waiting to Save
      2. Ignoring Fees
      3. Not Securing Your Information
      4. Prioritizing College Savings Over Retirement
      5. Not Diversifying Your Portfolio
      6. Waiting for the “Right Time” to Invest
      7. Having Inadequate Insurance
      8. Taking Money from Your Accounts Early
      9. Not Checking Your Social Security Benefit
      10. Not Thinking about Income
    2. Chapter 18: Top Ten Retirement Questions
      1. How Much Money Do I Need?
      2. Is Medicare Enough?
      3. What Will I Do with My Free Time?
      4. Will I Run Out of Money?
      5. Should I Have a Roth or Traditional IRA?
      6. How Good Is My 401(k)?
      7. What’s an RMD?
      8. Can Retirement Rules Change?
      9. What Can I Do If I’m Near Retirement Age and Don’t Have a Plan?
      10. Do I Need a Financial Advisor?
  7. Index
  8. About the Author
  9. Connect with Dummies
  10. End User License Agreement

Product information

  • Title: Retirement Planning For Dummies
  • Author(s): Matthew Krantz
  • Release date: February 2020
  • Publisher(s): For Dummies
  • ISBN: 9781119627579