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The complete idiot's guide to personal finance in your 40s and 50s, by Sarah Young Fisher and Susan Shelly

The resource The complete idiot's guide to personal finance in your 40s and 50s, by Sarah Young Fisher and Susan Shelly represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Williamsburg Regional Library.

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Creator

Fisher, Sarah Young

Contributor

Shelly McGovern, Susan

Summary

The Complete Idiot's Guide to Personal Finance in Your 40s and 50s is the guide you need to everything from helping your kids get on their feet to buying a second home

Table of contents

Taking a Look at the Big Picture -- So, How's Mid Life Treating You? -- How Time Flies -- Dealing with Changes -- How's Your Health? -- Feeling a Little Bit Stressed? -- Welcome to the Sandwich Generation -- Figuring Out Where You Are in Life -- Knowing What You Need -- Emergency Fund -- The Right Accounts -- Insurance -- Knowing What You Want -- Understanding the Difference Between Want and Need -- Get Real -- On the Plus Side -- Your House -- Income -- Savings and Investments -- Vehicles -- Your Family -- A Place in Your Community -- On the Minus Side -- Your Mortgage -- Credit Card Debt -- Car Payments -- Expenses, Expenses, Expenses -- And Then There's Your Ex -- Getting It All Together -- What Is Net Worth? -- Figuring It Out -- Maybe You Need a Budget -- Planning for What You'll Need -- Keeping Your Finances on Track -- Your Kids and Your Money -- The Big, Expensive Parent Trap -- Cell Phones, Jeeps, and PlayStation 2s -- But Mom, All My Friends Have One -- Teaching Kids About Money -- Letting Them Earn Their Own -- You're Not a Fairy Godmother -- Helping Out with Big Expenses -- Trading In the Bikes for Cars -- When Your Kid Wants a Car -- Knowing If He or She Is Ready -- Who Should Buy the Car? -- What About a Lease? -- New Jetta or a Junker? -- The Cost of Keeping a Car -- Paying for College -- The Cost of Higher Education -- Starting Early to Save for College -- Traditional College Accounts -- Other Options for College Savings -- Figuring Out What You Can Afford -- Finding Financial Aid -- Other Ways to Finance College -- Extras, Spending Money, Cars, and Credit Cards -- Wedding Bells -- Your Baby's Getting Married -- Who Pays for a Wedding These Days? -- Wedding Costs -- Saving on Wedding Costs -- Avoiding Temptation -- Helping Your Kids Get on Their Feet -- The Cost of Getting Started -- How Much Should You Help? -- To Loan or to Give? -- Keeping It All Up Front -- Boomerang Kids -- Hearth and Home -- To Stay or Not To Stay? -- If Your Housing Needs Are Changing -- Welcome Home, Mom -- Considering a Brand-New Home -- Adapting the House You Have -- A Home Away from Home -- Thinking About a Vacation Home -- Tax Advantages -- Other Advantages -- The Downside of Vacation Homes -- What About a Timeshare? -- Paying for a New Home or Second Home -- Knowing What You Can Afford -- Considering Extra Costs -- Deciding How You'll Pay for It -- Selling the House You Already Have -- Hire a Realtor or Sell It Yourself? -- Finding the Right Realtor -- Timing Is Everything -- Costs Associated with Selling -- Preparing for a Move -- When the Big Day Arrives -- Life Changes -- Knowing That Nothing Stays the Same -- Coping With Change Isn't Easy -- Types of Changes You May Encounter -- Strategies for Handling Life Changes -- Knowing When You Might Need Some Help -- Job Changes -- The Changing Workplace -- Voluntary Job Changes -- Involuntary Job Changes -- Heading Back to the Classroom -- Dealing With Losing Your Job -- Downsizing and Other Dirty Words -- You Job and Your Identity -- Bridges Aren't Built to Be Burned -- Practical Concerns When You're Not Working -- Financial Strategy Planning -- Resources to Help You -- Going Out on Your Own -- Entrepreneurial Opportunities -- Risks of Starting Your Own Business -- Rewards of Going It Alone -- Thinking Toward Retirement -- Working at Home vs. Renting an Office -- Other Changes to Think About -- Nobody Lives Forever -- Marital Status -- The Empty Nest Syndrome -- I Need to See the Doctor, Please -- Smart Investing in This Stage of Life -- Investing at Work -- Basic Methods of Saving for Retirement -- Pension Plans -- 401(k) Plans and the 403(b) -- Simple Plans -- Understanding Vesting -- Knowing What You Have and What You'll Need -- Retirement Needs Analysis -- Investing Outside of Work -- The Stock Market -- Knowing What and When to Buy -- Knowing When to Sell Stock -- The Bond Market -- Are Bonds Safer? -- Mutual Funds -- IRAs, Roth IRAs, and SEP IRAs -- Investing Lump Sums -- Tax Refunds -- Severance Pay -- Bonuses -- Stock Options -- Settlements -- Inheritances -- Retirement Lump Sum Payouts -- Finding a Good Financial Advisor -- Why You Should Have an Advisor -- Not All Financial Advisors Are Equal -- Finding an Advisor Who's Right for You -- Fees Associated with Financial Advisors -- Some Things Your Advisor Should Never Do -- Preparing for the Future -- You're Never Too Young to Plan -- You Do Have a Will, Don't You? -- Choosing a Guardian for Minor Children -- Protecting Your Family and Your Business -- What About Long-Term-Care Insurance? -- Living Wills -- Power of Attorney -- Helping Aging Parents Plan -- Knowing If Your Parents Need Help -- Assessing Their Financial Situation -- Talking Things Through -- Deciding Together Where They'll Live -- Sorting It All Out -- Estate Planning 101 -- The Purpose of an Estate Plan -- Why Everyone Should Have One -- Choosing an Executor -- Methods of Controlling Assets -- Trusts -- Gifting -- Dying Without an Estate Plan -- Ten Most Common Estate Planning Errors -- Seeing Into Your Crystal Ball -- What Lies Ahead for You and Your Family? -- Planning Things You Want to Do -- Some Misconceptions About Aging -- Making Sure You Can Afford Your Dreams -- Aging with Style

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