.:: All about insurance ::.
xvi Managing Your Money All-in-One For Dummies
Book VI: Retiring Comfortably ................................... 473
Chapter 1: 401(k) and 403(b) Retirement Investing . . . . . . . . . . . . . . . .475
What a 401(k) Does for You ....................................................................... 476
Saving Without Tears .................................................................................. 479
Taking Your Savings with You When You Change Jobs ......................... 480
Letting the Pros Work for You ................................................................... 480
Buying More When Prices Are Low ........................................................... 481
Improving Your Chances of an Ideal Retirement .................................... 481
Protecting Your Money ............................................................................... 482
Watching Out for Potential Pitfalls ............................................................ 484
Telling the Employer's Point of View ........................................................ 486
403(b): Different Name, Same Tax Breaks ................................................ 486
Stashing Away as Much as You Can: Contribution Info .......................... 487
Trekking Through Your Investment Options ........................................... 488
Withdrawing Money: Watch Out for That Fee! ........................................ 489
Taking Your 403(b) on the Road ............................................................... 490
Understanding ERISA Versus Non-ERISA 403(b) Plans .......................... 490
Finding Out Rules for Church Plans .......................................................... 492
Chapter 2: Retiring Your Way: IRAs . . . . . . . . . . . . . . . . . . . . . . . . . . . .495
Why an IRA? ................................................................................................. 496
The ABCs of IRAs ......................................................................................... 497
Traditional IRAs ........................................................................................... 503
Roth IRAs: The New Kid in Town ............................................................... 505
Rolling Over Your IRA ................................................................................. 506
Making the Most of Your IRA ..................................................................... 506
Chapter 3: Paychecks from Your House: Reverse Mortgages . . . . . .509
Understanding Reverse Mortgages ........................................................... 509
Choosing a Loan Product ........................................................................... 514
Figuring Out the People in Your Mortgage ............................................... 515
Getting Paid .................................................................................................. 519
Chapter 4: Managing Money in Retirement. . . . . . . . . . . . . . . . . . . . . .523
Decisions, Decisions: What to Dowith Your 401(k) Money .................... 524
Paying Uncle Sam His Due: Required Withdrawals ................................. 527
Strategizing to Deal with the Tax Man ...................................................... 529
Managing Investments in Retirement ....................................................... 531
Managing Risk and Maximizing Return ..................................................... 533
Living within Your Means for Life ............................................................. 535
Generating Predictable Income ................................................................. 537
Chapter 5: Online Retirement Planning . . . . . . . . . . . . . . . . . . . . . . . . .541
Pop Quiz: How Ready Are You for Retirement? ....................................... 542
Developing a Retirement Plan .................................................................... 543
Using the Internet to Determine How Much You Need to Live On ....... 546
Saving for Retirement .................................................................................. 551
xvii Table of Contents
Book VII: Planning Your Estate and Will .................... 557
Chapter 1: Fundamentals of Estate Planning. . . . . . . . . . . . . . . . . . . . .559
What Is an Estate? ....................................................................................... 560
Why You Need to Plan Your Estate ........................................................... 566
Why Your Estate-Planning Goals Differ from Your Neighbors' ............. 568
The Critical Path Method to Planning Your Estate ................................. 570
Getting Help with Your Estate Planning ................................................... 572
Chapter 2: Where There's a Will . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .579
Planning for Your Will ................................................................................. 580
Getting to Know the Different Types of Wills ........................................... 581
Choosing Your Will's Contents .................................................................. 584
Safeguarding Your Will ............................................................................... 590
Changing, Amending, and Revoking Your Will ........................................ 591
Protecting Your Loved Ones from Your Unloved Ones ......................... 593
Figuring Out Your Will Status .................................................................... 594
Chapter 3: Limitations of Wills: What You Can and Can't Do. . . . . . .597
Making Your Peace with Statutes That Affect Your Will ........................ 597
Identifying Statutes That Your Will Can Change ..................................... 598
Living (And Dying) with the Laws That Your Will Can't Change ........... 604
Chapter 4: Estate Planning Online. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .611
Calculating Your Estate's Value Online .................................................... 611
Understanding Wills and Trusts ................................................................ 612
Getting the Basics of Trusts ....................................................................... 615
Trusting in Living Trust to Avoid Probate ............................................... 616
Joint Tenancy and Benefi ciary Arrangements ......................................... 618
Customizing Estate Planning for All Ages ................................................. 621
Selecting an Estate Planner ........................................................................ 624
Preparing to Meet Your Estate Planner .................................................... 625
Chapter 5: Taking Care of Aging Parents
with Durable Power of Attorney . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .627
Understanding Power of Attorney ............................................................. 627
Determining Necessity ................................................................................ 630
Finding an Elder Law Attorney .................................................................. 633
Using a Living Trust as an Alternative ...................................................... 636
Index ....................................................................... 639
