Overview

Baby Boomers are leaving the workforce and entering retirement in overwhelming numbers. This book addresses many issues associated with retirement in a user-friendly manner. It provides concepts related to age-based, emotion-based and finance-based retirement. Although the target audience is Boomers, the book would be invaluable to those new to the workforce as well as those retiring within a decade or two. The author discusses how retirement is best funded with three pools of funds: (1) personal savings; (2) pensions; and (3) Social Security. Strategies for accumulating personal savings are presented as well as pension plans, including 401ks and IRAs. Current Social Security law is examined. He then moves to practical considerations of retirement, including how to consolidate assets and what a will and trust do for an estate. Budgeting is presented with models. Income tax in retirement as well as health care and long-term nursing care insurance are discussed. Following these hard-core issues of financing and supporting retirement, he moves to lifestyle, including nutrition and physical fitness, followed by suggestions for enriching one's retirement through educational and cultural pursuits, travel and sports. Living with one's spouse, children and grandchildren are discussed, as well as new geographical locations and divesting of household goods. There is a chapter on taking advantage of senior discounts and price discrimination. The final chapter addresses leaving a financial legacy to one's heirs. The book is interwoven with numerous ""real life"" vignettes, work sheets to assist readers in making choices as well as appendices that provide examples of retirement number crunching.

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9781522916598

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Author James P. (Jim) O'Brien spent 42 years as an educator, but retired from the University of Arizona in 2003. He holds the B.S., M.Ed. and Ph.D. in Fine Arts as well as an M.B.A. in marketing and finance. He has worked as professional tax preparer, real estate agent, land developer and professional musician. He has authored 13 books, including two books in music education (Holt, Rinehart and Winston and Prentice-Hall, one in music appreciation with Macmillan (2 editions), as well as instructional manuals. He completed ""Realities of Retirement"" in 2015 and is in the process of finishing an autobiography, ""Somewhere The Train Goes. He lives in a retirement community near Tucson, Arizona, but spends 6 months in a 40-foot motor home, primarily on the Oregon coast. He is an avid cyclist, walker and pickleball player. He and his spouse, Shirley, continue to perform on digital accordions professionally throughout the Northwest at festivals, wherever they are moored.

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