Lita Epstein - Retirement For Dummies®

Retirement For Dummies, Mini Edition

by Lita Epstein, MBA, Betsy Nagelsen McCormack with Mike Yorkey, Patricia Barry, Rachelle Zukerman, PhD, Sandra Hardin Gookin, Dan Gookin, and Therese Iknoian

Retirement For Dummies, Mini Edition

Published by
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www.wiley.com

Copyright 2011 by Wiley Publishing, Inc., Indianapolis, Indiana

Published simultaneously in Canada

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ISBN: 978-0-470-54828-8

Manufactured in the United States of America

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Introduction

A s you approach retirement, life can bring a new set of challenges, leaving you with lots of unanswered questions. How do you make the most of your retirement savings and make it last? How do you navigate the Medicare maze? How fit are you really, and whats the best workout now that youre over 40? How do you keep up with your grandchildren and have better relationships with your grown children? How do you take care of your aging parents?

This book helps you get answers to these challenges by covering the topics that matter to you. Focused on managing retirement savings, understanding Medicare, keeping up your physical fitness, and caring for loved ones, each chapter includes helpful tips and expert advice and is easy to understand. You can use these tools and information to plan your retirement step-by-step.

This book is all about empowering you to sail the uncharted waters ahead. Youll gain the knowledge you need to head into your retirement years with confidence.

Icons Used in This Book

We use icons in the margins throughout this book to draw your attention to points that are especially valuable or important. Heres what each icon means:

This icon points out information that could save you time or money or just make your life a little easier.

You dont have to commit this book to memory any more than you have to memorize the dictionary to make use of it. But when we tell you something thats so important that you really should remember it, we flag it with this icon.

Life is full of pitfalls and quicksand, but you dont have to fall in. If you heed the warnings marked with this icon, you can sidestep the problems.

Where to Go from Here

If youve gone from high school to college to work to marriage to kids, youre probably used to doing whats supposed to be next. Retirement is your chance to shake things up, and it starts with this book. Rule number one: There are no rules!

You have your minibook copy of Retirement For Dummies now what? This minibook is a reference, so if you need information on Medicare, head to Chapter 2. Or if youre interested in finding out about how to care for yourself and others, including children of all ages and elderly parents, go straight to Chapter 4. Or you may feel the urge to start with Chapter 1 and read the chapters in order... you rebel. If you want even more advice on Medicare, check out the full-size version of Medicare Prescription Drug Coverage simply head to your local bookseller or go to www.dummies.com !

Chapter 1

Taking Control of Your Retirement Savings

In This Chapter

Knowing where to put your savings

Following the ins and outs of withdrawing money

Sorting through your needs and budget

M any of the major stresses people face as they near retirement are all about money: Will I have enough to retire? How much do I need? How do I make sure my money lasts as long as I do? Given the current economic climate in which your home and stocks may not be worth as much as you anticipated the stress isnt unfounded. In this chapter, we fill you in on the big questions you need to ask yourself, so that you can enjoy your retirement instead of worrying about it.

Investing Your Nest Egg

By the time you reach retirement, the goal is to have a sizeable nest egg that you can tap as you enjoy your retirement years. Investing your nest egg properly, whatever size you have, is critical to extending its life throughout your life span.