SMART MONEY STRATEGIES FOR EVERY AGE AND SITUATION
Your 60s and Up—The Retirement Years

• 1- How Are You Doing Financially? (60sUp)
• 2- How Should You be Maximizing Your Wealth? (60sUp)
• 3- Real Estate Implications (60sUp)
• 4- How Does My Credit Impact Me Now? (60sUp)
• 5- Should I Buy My Car? (60sUp)
• 6- What about Insurance Now? (60sUp)
• 7- Utilizing Employee Benefits (60sUp)
• 8- What Do I Need to Know About Estate Planning (60sUp)
• 9- College Funding (60sUp)
• 10- Maximizing Retirement (60sUp)
• 11- Tax Reduction Strategies (60sUp)

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SMART MONEY STRATEGIES FOR EVERY AGE AND SITUATION
Your 60s and Up—The Retirement Years

Section 1 of 11:
GIVING YOURSELF A FINANCIAL CHECKUP:
How Are You Doing Financially?
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If you have planned for retirement most of your working life, the
transition into retirement starting in your 60s should be relatively
smooth. Ideally, you have accumulated enough capital through a
combination of employee benefits plans and personal investments
to produce enough income to live comfortably.

You have developed enough hobbies and other interests aside from your job that you
don’t feel at a loss about what to do with all the free time that retirement offers. And you have given thought to your retirement housing options and done some estate planning.

This report will help you learn how to micro-manage your funds so
that your money multiplies itself. Each section contains useful tips,
techniques and action strategies you can implement right away.

Read on and reap the financial rewards!

Jordan E. Goodman
America’s Money Answers Man
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GIVING YOURSELF A FINANCIAL CHECKUP:
How Are You Doing Financially?

Few people actually get around to mapping out all the aspects of their retirement ahead of time. However, the average life expectancy for someone in good health who retires in his or her early 60s is at least 20 years, and many retirees live into their 90s or even 100s. Therefore, you have many golden years for which to plan.

As you enter your pre-retirement and retirement years, set aside a couple of hours to give yourself a financial check up and evaluate each aspect of your personal finances so you can enjoy an active and stimulating retirement.

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GIVING YOURSELF A FINANCIAL CHECKUP

1.
Determine Your Net Worth.

Add up the total value of what you already own, known as assets,
and subtract the amount of debt your owe, known as liabilities. The
remaining sum is your net worth.

Hopefully, you will have amassed a significant amount of assets
and paid off most, if not all, of your debts. You should be operating
with much positive cash flow because many of the expenses of
your earlier years, such as college tuition and buying everything
from baby clothes to furniture, no longer apply.

Meanwhile, once you retire, you should receive income from Social
Security, your company’s defined benefit and/or defined
contribution pension plan, your investments, and your annuities.

On the other hand, if your living expenses exceed your income,
compile a budget to find ways to reduce your expenses, as
well as increase your income.

2.
Create a Record Keeping System.

Be sure to have a clearly developed record keeping system so your
family knows the location of all records and can locate all financial
advisors when you die. By now, you will have built up a lifetime of
contacts, and it could be extremely time consuming for your loved
ones to reconstruct the family’s financial life without this
information.

3.
Define Your Financial Goals.

As you redefine your financial goals, consider how many of your
past goals you have accomplished. It may give you a great sense of
satisfaction to remember that the most important goals of your
youth—to buy a home, to put your children through college, or to
travel extensively, for example—were met. Or the exercise may
remind you of what you hoped to accomplish but never got around
to during your working life. In reprioritizing your goals for your
retirement years, you might aim to achieve some of these
unsatisfied goals, if they still apply.

4.
Analyze your Cash Flow.

Simply: Where does your money come from and where does it go?

5.
Create a Budget that Works.

Note all your income and expenses and use it to take control over
your finances.

6.
Assemble a Long-Term Financial Plan.

Prioritize short-, medium-, and long-term goals.

7.
Assess Your Risk Tolerance.

In reassessing your risk tolerance, you will probably find that you
have grown much more risk averse than ever. That is appropriate.
As you move into retirement, capital preservation takes priority
over capital growth.

8.
Use Your Computer to Keep Your Finances in Shape.

Enter your data into a personal finance software program and/or
use the Internet and its many Web sites (like
www.MoneyAnswers.com!) to educate yourself about finance and
to track your progress toward your financial goals.

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HOW TO REAP THE REWARDS YOU DESERVE!

Starting Now . . .

Use the following Resources, Action Steps and Extra Info to take
the next step toward your solid financial future.

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You work hard for your money.
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Want fill-in-the-blank worksheets for your computer?
Everyone’s Money Software includes 36 easy-to-use worksheets
contained in Everyone’s Money Book (2nd Edition) to help you
apply Jordan’s advice to your situation quickly and easily.

With this software you will be able to:

Calculate your net worth.

Keep records (professional contacts and banking,
tax, brokerage, and insurance records)

Set and track progress toward your financial goals.

Analyze cash flow and budgeting.

Pick stocks using five styles
(cyclical, growth, income, out-of-favor and value).

Make mortgage calculations.

Determine if it’s better to buy or lease a car.

Pick the right amount of insurance
(auto, disability, homeowner’s and life).

Determine the best options for funding college.

Figure out how much to save for retirement.

Determine how much to put aside in your
Flexible Spending Account (FSA).

36 Easy-to-Use Worksheets

Works with all Windows and DOS-compatible computers

Click here to order for only $9.95:
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