Morningstar's 30-Minute Money Solutions

The quick and easy way to manage money and achieve financial goals The recent economic meltdown has left people in terrible financial shape with little idea of how to turn things around. Using Morningstar's time-tested strategies and sensible approach to money management, Morningstar's 30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances breaks down important financial tasks into do-able chunks, each of which can be accomplished in 30 minutes or less. The practical, no-nonsense book Lays out the tools to get organized, including how to create a filing and bill paying system Details how to find the best uses for one's money, as well as how to properly invest for savings, college, and retirement Other titles by Benz: Morningstar® Guide to Mutual Funds: Five Star Strategies for Success These are uncertain times. Morningstar's 30-Minute Money Solutions provides expert guidance on all aspects of personal money management, and it does so in quick, easily digestible steps.

Foreword xi Preface xiii Acknowledgments xix Part one: Find your baseline 1 Chapter 1: Calculate Your Net Worth 5 Chapter 2: See Where Your Money Goes 11 Chapter 3: Set Your Financial Goals 17 Chapter 4: Create a Budget 23 Part two: Get organized 29 Chapter 5: Create a Bill-Paying System 33 Chapter 6: Create a Filing System 37 Chapter 7: Create a Master Directory 43 Part three: Find the best use of your money 47 Chapter 8: Determine Whether to Pay Down Debt or Invest 51 Chapter 9: Decide Where to Invest for Retirement 59 Part four: Get started in investing 65 Chapter 10: Create an Emergency Fund 69 Chapter 11: Find the Right Stock/Bond Mix 75 Chapter 12: Create an Investment Policy Statement 81 Chapter 13: Invest for Short- and Intermediate-Term Goals 89 Chapter 14: Create a Hands-Off Long-Term Portfolio 97 Part five: Invest in your company retirement plan 105 Chapter 15: Determine How Good Your Company Retirement Plan is 109 Chapter 16: Decide between a Traditional and Roth 401(k) 117 Chapter 17: Select the Best Investments for Your Company Retirement Plan 125 Chapter 18: Make the Most of a Subpar 401(k) Plan 131 Part six: Invest in an IRA 137 Chapter 19: Determine What Type of IRA is Best for You 143 Chapter 20: Identify the Best Investments for Your IRA 147 Chapter 21: Determine Whether to Convert Your IRA 155 Chapter 22: Roll Over Your Retirement Plan into an IRA 163 Part seven: Invest for college 169 Chapter 23: Find the Right College Savings Vehicle 173 Chapter 24: Find the Right 529 Plan 181 Chapter 25: Select the Right Investments for Your College Savings Plan 187 Part eight: Invest in your taxable account 197 Chapter 26: Identify the Best Investments for Taxable Accounts 201 Chapter 27: Manage Your Portfolio for Tax Efficiency 209 Chapter 28: Harvest Tax Losses 215 Part nine: Invest during retirement 223 Chapter 29: Determine Your Portfolio Withdrawal Rate 227 Chapter 30: Build an In-Retirement Portfolio 233 Chapter 31: Find the Right Sequence of In-Retirement Withdrawals 241 Part ten: Monitor your investments 245 Chapter 32: Conduct a Portfolio Checkup 249 Chapter 33: Rebalance Your Portfolio 257 Part eleven: Cover your bases on estate planning 263 Chapter 34: Get Started on Your Estate Plan 269 Chapter 35: Handle Beneficiary Designations 275 Chapter 36: Create a Personal Legacy 281 About the author 285 Index 287