You're Fifty--Now What? Investing for the Second Half of Your Life - Softcover

Schwab, Charles

Softcover

ISBN 10: 0609808702 ISBN 13: 9780609808702

Publisher: Crown Business, 2002

Synopsis

Charles Schwab is one of America’s most trusted and respected names in financial services. In the bestselling You’re Fifty—Now What? Schwab offers you his advice and support on how to retire with the money you’ll need to have the kind of life you want. You’ll learn:

* The best investment strategies
* How to estimate how much you’ll need
* How to choose investments for the second half of your life
* The ins and outs of insurance and how to be adequately insured
* The fine art of estate planning
* The tools of charitable giving
* And much more

About this title

Review

As boomers reach midlife faster than a new Beatles CD can climb the charts, many are wondering if they'll have sufficient resources to comfortably make it through their golden years. Investment guru Charles Schwab's You're Fifty--Now What? addresses these concerns with a step-by-step road map to help the middle-aged assess where they're at, determine where they want to go, and pick the proper mix of investments to get there. "While getting older isn't a bad thing," Schwab writes, "being unprepared for it is. And by not understanding the financial part of your future, you sabotage yourself and limit your choices." Not surprisingly--given the author's background as founder of the discount brokerage that bears his name--the book contends that you have to remain an active investor for the rest of your life in order to make it financially over the long haul. To do so, it advocates using as aggressive an approach as you can comfortably handle, centered on a combination of broad-based index funds and actively managed mutual funds or individual stocks.

With plenty of easy-to-use worksheets, Schwab helps you take stock of everything you've accumulated, determine how much it costs you to live now, and estimate what it will take to maintain that lifestyle into the future. The latter is determined by calculating everything from projected housing and tax obligations to food and entertainment expenses, while life-expectancy tables, inflation adjustment factors, and investment return rates allow you to see where you stand versus where you need to be. Schwab then addresses reaching these goals through a proper investment mix. (Sidebars explaining the basics guide even novices through these critical steps.) Additional chapters detail ways to develop a regular long-term cash flow, and suggest how to monitor its progress while making adjustments when necessary. There is also information on financial advisors, insurance, estate plans, and charitable giving, adding up to a wealth of specifics presented in a manner that virtually everyone should be able to understand and follow. --Howard Rothman

From the Inside Flap

6 hours
Read by

Every eight seconds someone in this country turns 50, an age at which even baby-boomers can no longer put off becoming fiscally responsible and planning for the future.  For everyone who finds that thought daunting (and that's an awful lot of us), Charles R. Schwab, America's most trsuted figure in financial services, is here to outline the simple steps we should take to evaluate what we have, determine what we'll need, and put our money to work to make our future one of reward instead of worry.

In the same upbeat, user-friendly style that made Charles Schwab's Guide to Financial Independence a bestseller, You're Fifty--Now What? offers a mix of clear and workabel advice, simple worksheets, and a healthy dose of encouragement.  In addition to learning how to accumulate and grow their money, listeners will even find help with estate planning and charitable giving.

His message is that the goal is

Edition details

• Publisher: Crown Business
• Publication date: 2002
• ISBN 10: 0609808702
• ISBN 13: 9780609808702
• Binding: Paperback
• Language: English
• Edition number: 1
• Number of pages: 336