Designed for the individual investor looking ahead to retirement, Seven Steps to Financial Freedom in Retirement offers unfettered access to financial consultant Hank Parrott's twenty years of professional experience. For a fraction of the price you'd pay for a personal advisor, you too can learn the insider secrets that ensure a comfortable retirement. Offering a simple approach to retirement planning that utilizes a customized "Financial Lifestyle" guide to see how much money you, as an individual, need to live on after your working days are over, Hank explains the basics of IRAs and…mehr
Designed for the individual investor looking ahead to retirement, Seven Steps to Financial Freedom in Retirement offers unfettered access to financial consultant Hank Parrott's twenty years of professional experience. For a fraction of the price you'd pay for a personal advisor, you too can learn the insider secrets that ensure a comfortable retirement. Offering a simple approach to retirement planning that utilizes a customized "Financial Lifestyle" guide to see how much money you, as an individual, need to live on after your working days are over, Hank explains the basics of IRAs and 401(k)s, before launching into a more in-depth discussion of the strategies and tax implications involved in getting the most value from your retirement accounts. Using detailed questionnaires to determine your specific personal financial goals and the rate of return needed to achieve them, Seven Steps to Financial Freedom in Retirement is able to provide a clear plan detailing which investments will meet this desired rate at minimum risk. Annuities, stocks, bonds, mutual funds, and CDs are all addressed, as are the essentials of estate planning, the perils of "stock picking," and everything else you could ever need to know to make sure you're ready to retire. All with the insight and wisdom that only an established expert can provide. Essential for everyone concerned about their financial future, the book is designed to help you to draw a road map connecting the resources you have, those you will need to retire, and an in-depth look at the details of the products and accounts that will get you where you want to be. An invaluable resource, Seven Steps to Financial Freedom in Retirement has something for everyone, regardless of whether retirement is a distant dream or a looming reality.
HANK PARROTT is founder and President of Estate & Financial Strategies, Inc., a Tennessee-based firm providing a full range of financial advising and estate planning services that has served thousands of clients throughout the country. Specializing in estate and retirement planning; insurance and annuities; and tax planning, Parrott is a Chartered Financial Consultant (ChFC), an Accredited Estate Planner (AEP), and a Registered Financial Consultant (RFC).
Inhaltsangabe
Introduction.
Chapter 1 Getting the Nest Egg Ready to Hatch.
A New Approach.
What You've Got.
Additional Sources of Retirement Income.
Where Are Your Retirement Resources?
With Assets Comes Expenses.
Looking Forward.
Chapter 2: Putting Your Assets to Work for You.
The Old Way: Maximizing Returns Based on Risk Tolerance.
The Hank Parrott Way: The Smart Money Approach.
Why Do I Need Such Big Returns?
Checking In.
Accessing Assets in Retirement Accounts.
Converting Money from a Traditional IRA to a Roth IRA.
Organizing Your Non-Retirement Accounts.
Looking Forward.
Chapter 3: IRA Mastery.
Planning for Taxes.
What Makes Up a Traditional IRA?
Contributing to an IRA.
Traditional and Roth IRAs: Learn the Difference!
The Rules of Roth Conversions.
Tax Considerations When Investing IRA Assets.
Taking Distributions from Traditional IRAs.
Estates and IRAs.
Passing it Along.
Looking Ahead.
Chapter 4: Enhancing Your Retirement with Built-inGuarantees
Annuities, Bonds, and CDs.
Bonds: What is guaranteed and what is not.
Annuities: Separating myths from truth.
CDs: A Key Element in an Income-Generating RetirementPortfolio.
Putting It All Together: Investing for the Long Term.
Chapter 5: How the Smart Money Invests.
Learning through Trial and Error.
The Real Story.
Starting Off: The Retirement Investor Quiz.
Busting the Investment Myths.
Active Management.
Tune out the Media's Advice.
Investing vs. Speculating: Know the Difference!
A Real Story About Speculative Investing.
The Smart Money Investment Strategy.
All About Asset Allocation.
Tax Planning and Investments.
My Best Advice.
Looking Forward.
Chapter 6: Paying for Helping Hands.
The Ins and Outs of Long-Term Care.
What are Your Options?
Planning Ahead.
Common Myths About Long-Term Care.
How You'll Pay.
Examining Which LTC Payment Option Works for You.
Understanding Long-Term Care Insurance.
Last But Not Least.
Chapter 7: The Basics of Estate Planning.
Why Estate Planning?
Problematic Probate.
All About Trusts.
The Five Essential Documents.
Lightning Round: Other Types of Trusts.
Whom Should I Name as Trustee?
The Value of Real Professionals: Finding the Right CertifiedExpert.