Personal Finance in Your 50s All-in-One For Dummies

Manage your finances and enjoy your retirement Retirement security is one of the most pressing social issues facing the world in the next 30 years—so if you’re approaching your golden years, it’s essential to have a secure financial future. Personal Finance in Your 50s All-in-One For Dummies provides targeted financial advice and assists soon-to-be or established boomers with making informed decisions about how best to spend, invest, and protect their wealth while planning for the future. Retirement is an exciting time … but it can also be scary if you’re not sure that you have your ducks in a row. This hands-on resource arms you with an arsenal of beginner to intermediate personal finance and estate planning techniques for everything from spending, saving, navigating insurance, managing medical costs, household expenses, and even employment. Build a diversified portfolio Create emergency funds Avoid scams and frauds Improve your estate planning With the help of this all-in-one resource, you’ll get a succinct framework and expert advice to help you make solid decisions and confidently plan for your future.

Introduction 1 Book 1: Managing Your Career and Retirement 5 Chapter 1: Finding a New Job after 50 7 Chapter 2: Dealing with Changes in Employment 31 Chapter 3: Joining the Ranks of the Self-Employed 49 Chapter 4: Tracking Small Business Revenues and Costs 75 Chapter-5: Estimated Taxes and Self-Employment Taxes 85 Chapter 6: Developing a Retirement Plan 97 Chapter 7: Grasping Retirement Accounts and Their Rules 113 Book 2: Getting Your Affairs in Order 127 Chapter 1: Ensuring That Your Last Wishes Are Honored 129 Chapter 2: Planning Your Bequests 145 Chapter 3: Providing for Your Children and Dependents 163 Chapter 4: Writing and Signing a Will 173 Book 3: Dealing with Insurance 189 Chapter 1: Seven Guiding Principles of Insurance 191 Chapter 2: Buying Insurance 199 Chapter 3: Getting the Most Out of Medicare 207 Chapter 4: Introducing the Personal Umbrella Policy 237 Book 4: Handling Budgets and Investments 245 Chapter 1: Protecting Your Employment Income 247 Chapter 2: Managing Budgets and Expenses 263 Chapter 3: Guiding Investments and Distributions in Retirement 281 Chapter 4: Making Your Best Choices under Social Security 297 Book 5: Planning Your Estate 329 Chapter 1: Yes, You Have an Estate 331 Chapter 2: Bean Counting: Figuring Out What You’re Worth 353 Chapter 3: Probate and How to Dodge It 363 Chapter 4: Understanding Trusts 397 Chapter 5: Minimizing Estate-Related Taxes 411 Book 6: Tapping Into Your Home’s Value 429 Chapter 1: Making Important Housing Decisions 431 Chapter 2: Reverse Mortgages for Retirement Income 441 Chapter 3: Deciding to Sell 455 Chapter 4: Exploring the Economics of Selling 469 Chapter 5: Determining Your House’s Value 481 Index 497