Part 1: Taking a Look at the Big Picture

1 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

2 Figuring Out Where You Are in Life

Knowing What You Need

Emergency Fund

The Right Accounts


Disability Insurance

Homeowner’s Insurance

Auto Insurance

Personal Catastrophic Casualty Policy (PCAT)

Life Insurance

Knowing What You Want

A Tropical Paradise for Two

A Cozy Little Cabin

A BMW of Your Very Own

Understanding the Difference Between Want and Need

Get Real

3 On the Plus Side

Your House


Savings and Investments


Your Family

A Place in Your Community

4 On the Minus Side

Your Mortgage

Credit Card Debt

Credit Card Nightmares

Paying Off Your Debt

Finding a Better Deal

Car Payments

Expenses, Expenses, Expenses

And Then There’s Your Ex

5 Getting It All Together

What Is Net Worth?

Figuring It Out

Maybe You Need a Budget

A Sample Budget Worksheet

Cutting Back When Necessary

Software to Help You Budget

Planning for What You’ll Need

Keeping Your Finances on Track

Part 2 Your Kids and Your Money

6 The Big, Expensive Parent Trap

Cell Phones, Jeeps, and PlayStation 2s

But Mom, All My Friends Have One

Living in an Affluent Society

Helping Them Appreciate What They’ve Got

Social Responsibility

Teaching Kids About Money

Letting Them Earn Their Own

You’re Not a Fairy Godmother

Helping Out with Big Expenses

7 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

8 Paying for College

The Cost of Higher Education

Starting Early to Save for College

Traditional College Accounts

Other Options for College Savings

EE Bonds

Uniform Gifts to Minors Act (UGMA) Accounts

Education IRAs

Tax Credits for Parents of College Students

Qualified State Tuition Plans

Figuring Out What You Can Afford

Finding Financial Aid

Other Ways to Finance College

Extras, Spending Money, Cars, and Credit Cards

9 Wedding Bells

Your Baby’s Getting Married

Who Pays for a Wedding These Days?

Wedding Costs

Saving on Wedding Costs

Avoiding Temptation

10 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

Part 3 Hearth and Home

11 To Stay or Not To Stay?

If Your Housing Needs Are Changing

Health Issues

Too Much Space

Too Much Yard

Just Not Quite Right

Welcome Home, Mom

Deciding If You Can Do It

Financial Implications

Handling It Emotionally

Considering a Brand-New Home

Getting Exactly What You Want

Leaving Your Home and Neighborhood

Getting the Home You Want

Adapting the House You Have

12 A Home Away from Home

Thinking About a Vacation Home

Tax Advantages

Other Advantages

The Downside of Vacation Homes

What About a Timeshare?

13 Paying for a New Home or Second Home

Knowing What You Can Afford

Considering Extra Costs

Deciding How You’ll Pay for It


Checking Out Your Profile

Home Equity Loans and Lines of Credit

Swing Loan

Construction Loan

14 Selling the House You Already Have

Hire a Realtor or Sell It Yourself?

Determining a Price for Your Home

Advertising Considerations

Legal Considerations

Practical Considerations

Finding the Right Realtor

Timing Is Everything

The Ideal Situation

Congratulations, You Own Two Homes

Where Is the Nearest Hotel, Please?

Deciding on a Settlement Date

Costs Associated with Selling

Preparing for a Move

When the Big Day Arrives

Part 4 Life Changes

15 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

16 Job Changes

The Changing Workplace

Voluntary Job Changes

Involuntary Job Changes

Heading Back to the Classroom

17 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

How Not to Deplete Your Savings Account

Is Everybody Covered?

Financial Strategy Planning

Resources to Help You

18 Going Out on Your Own

Entrepreneurial Opportunities

Considering Your Personal Criteria

What’s Hot and What’s Not

Risks of Starting Your Own Business

Rewards of Going It Alone

Thinking Toward Retirement

Working at Home vs. Renting an Office

19 Other Changes to Think About

Nobody Lives Forever

Losing a Parent

If a Spouse Dies

Losing a Child

When Friends Die

Marital Status

Dealing With the Big D

Divorce and Your Finances

Marrying Again

The Empty Nest Syndrome

I Need to See the Doctor, Please

Part 5 Smart Investing in This Stage of Life

20 Investing at Work

Basic Methods of Saving for Retirement

Pension Plans

Money Purchase Plan

Profit Sharing Plans

Target Benefit Plan

401(k) Plans and the 403(b)

Simple Plans

Understanding Vesting

Knowing What You Have and What You’ll Need

Retirement Needs Analysis

21 Investing Outside of Work

The Stock Market

Knowing What and When to Buy

Knowing When to Sell Stock

The Bond Market

How Are Bonds Different?

Are Bonds Safer?

Mutual Funds

IRAs, Roth IRAs, and SEP IRAs

Roth IRAs


22 Investing Lump Sums

Tax Refunds

Severance Pay


Stock Options



Retirement Lump Sum Payouts

23 Finding a Good Financial Advisor

Why You Should Have an Advisor

Not All Financial Advisors Are Equal

Financial Planners

Certified Financial Planners

Financial Consultants

CPAs and Personal Finance Specialists

Insurance Agents

Money Managers

Finding an Advisor Who’s Right for You

Fees Associated with Financial Advisors

Some Things Your Advisor Should Never Do

Part 6 Preparing for the Future

24 You’re Never Too Young to Plan

You Do Have a Will, Don’t You?

What It Should Include

Making Sure It’s Valid

Deciding Where to Keep It

Choosing a Guardian for Minor Children

Protecting Your Family and Your Business

What About Long-Term-Care Insurance?

Living Wills

Power of Attorney

25 Helping Aging Parents Plan

Knowing If Your Parents Need Help

Assessing Their Financial Situation

Talking Things Through

Deciding Together Where They’ll Live

ECHO Housing

Adult or Retirement Communities

Continuing Care Communities

Senior Apartments

Assisted Living

Nursing Homes

Sorting It All Out

26 Estate Planning 101

The Purpose of an Estate Plan

Why Everyone Should Have One

Operation of Law

Contract of Law


Choosing an Executor

Methods of Controlling Assets


Testamentary Trust

Revocable Living Trust

Irrevocable Trust


Dying Without an Estate Plan

Ten Most Common Estate Planning Errors

27 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


A Glossary

B Resources



..................Content has been hidden....................

You can't read the all page of ebook, please click here login for view all page.