Transitions In Retirement: Volume 2 (Part 2: Managing Retirement Assets) - Softcover

Cahill, Frank E

Softcover

ISBN 10: 1548163015 ISBN 13: 9781548163013

Publisher: CreateSpace Independent Publishing Platform, 2017

Synopsis

Most adults in the US experience three transitions in their retirement lives. Around the age of 55, their dreams of retirement begin in earnest and they begin to plan and prepare for retirement. But the job is far from done after they enter retirement. There are dozens of activities to juggle, which may involve health care and investment decisions, and dealing with new types of taxes to report. Finally, a last transition becomes apparent after they have enjoyed the leisure for few a years, and they realize it is time to make arrangements to leave their estates to family and friends. "Transitions In Retirement" discusses these phases in the natural division of three parts. IN Part 2: Addresses health care decisions, with a focus on Medicare Plans, followed by a detailed review of taxes that affect seniors. It ends with considerations for retirement income, especially fixed income methods for retirees. Explains the Medicare system and compares Medigap plans with Advantage plans. Reviews income taxes that most seniors experience in retirement, and how to minimize the tax bite. Includes a discussion of investment plans for retirees and a sample portfolio for earning fixed income. ADD Part 1: Reviews the early steps in transition planning. How to inventory assets and liabilities, how to set up pensions and tax-deferred savings, and other considerations such as life and health insurance, and when to start Social Security. Learn how much can be earned before Social Security benefits are reduced. How to rollover a 401(k) to an IRA without triggering income taxes. IN Part 3: Examines estate planning and answers questions about estate taxes. Discusses the gift tax and estate tax limits. This is followed by a review of setting up estate legal documents, including a revocable living trust, a will, a durable power of attorney, and advance health care directives. Specific examples of each legal instrument are provided for the Do-It-Yourself retiree who wants to save thousands on legal fees.

About this title

About the Author

Raised in the Southwest United States, the author has been active in engineering and business since the 1960s. His career includes service in the US Army, engineering and accounting assignments, and senior technical management responsibilities. Hobbies are aviation and flight instruction, reading, and writing. His range of writing includes magazine articles and books covering fiction and nonfiction subjects for adults and children.

Edition details

• Publisher: CreateSpace Independent Publishing Platform
• Publication date: 2017
• Language: English
• ISBN 10: 1548163015
• ISBN 13: 9781548163013
• Binding: Paperback
• Number of pages: 72