Your money life: Your 60s+

Chapter 1. The Path

The Changing Nature of Retirement Age

In a Sandwich

Financial Support of Adult Children

Leave a Legacy or Just Leave

What You Will Learn in This Book

Debt

Spending

Budgeting

Major Purchases

Income

Saving and Investing

Insurance

A Plan

Your Removable Guide

Get Started

Chapter 2. The Past: Debt

Types of Debt

Student Loans

Parent Student Loans

Bank Credit Card Debt

Store Credit Card Debt

Car Loan

Home Loan (Mortgage)

Medical Debt

Lines of Credit (Secured and Unsecured)

Reverse Mortgage

Personal Loans (from a Financial Institution)

Personal Loans (from a Family Member or Friend)

Tax Debt

Collection Debt

Judgments

A Closer Look at Debt and Paying It Down

Your Relationship with Debt

Debt Pay-Down Process

The Math Method

The Momentum Method

The Shotgun Method

Getting Out of Debt

Step 1: Map Out Your Debt

Step 2: Build Momentum with Small Debt Victories

Step 3: Commit to a Debt-Payment Schedule

Your Perspective Needs to Shift

A Note on Credit Scores

Your Children's Credit

What If Your Kids Have No Credit at All?

What Now?

Chapter 3. The Present: Spending

How Using a Credit Card Complicates Spending

If Not a Credit Card, Then What?

Should You Select Debit or Credit When Swiping Your Debit Card?

How Do You Actually Reduce Spending?

Groceries

Dining Out

Utilities

The New Necessities

It Ever Okay to Splurge?

Chapter 4. The He: Budgeting

The Ideal Household Budget

Rent/Mortgage, Including Property Taxes and Property Insurance: 25 Percent

Transportation: 15 Percent

Groceries and Dining Out: 12 Percent

Savings: 10 Percent

Utilities: 10 Percent

Charity: 5 Percent

Clothing: 5 Percent

Medical: 5 Percent

Entertainment: 5 Percent

Holidays and Gifts: 5 Percent

Miscellaneous: 3 Percent

The Expense Categories You Don't See

Education

Debt Reduction

Long-Term Care

Kids

But I Do All My Shopping at One Store

How Do Your Expenses Stack Up?

Chapter 5. The Possessions: Major Purchases

Housing

Five Signs That You Bought Too Much House

The Key to Housing Success

The Importance of a Good Realtor

Home Improvements

What Really Adds Value to Your Home

Car

But Really, Should You Buy or Lease a New Car?

Your Next Car Purchase

The Final Factor in Making Big Purchases

Chapter 6. The Picture: Income

The Streams

Social Security

Pension (Defined Benefit Man)

Employment

Income Derived from Your Investments and Savings

How Much Income Can Your Assets Safely Provide?

Monte Carlo Simulation

Understanding and Measuring Risk

Want versus Should

Projected Income at Retirement

Tight Fits Don't Fit

Chapter 7. The Piggy Bank: Saving and Investing

Risk

Inflation

Types of Investments and Investment Vehicles

Certificate of Deposit (CD)

Stock

Bond

Mutual Fund

Exchange Traded Fund

Index Fund

Target-Date Fund

IRA

Roth IRA

401 (k)

529 College Savings Plan

Annuity

Hiring a Financial Advisor

Fees for a Financial Advisor

Head on u Swivel

Dealing with Reality

Chapter 8. The Pitfalls: Insurance

Types of Insurance

Health

Medicare

Medicaid

Life

Long-Term Care

Consider Getting an Insurance Agent

Review Your Coverage Annually

Chapter 9. The Plan

Preparing for the Big Decisions

Choose Your Own Adventure

Questions

Plans

Other Solid Goals for Age 65

Be Careful of Dollar Goals

Your Diligence and Discipline Will Pay Dividends

Index