MATURE MARKET HEADLINE 12/28/2000 Financial Strategy for Second Half of Life "If you find the whole concept of financial planning intimidating or frightening, be assured that you are not alone," says Charles Schwab, founder of the brokerage firm that bears his name. "Retirement planning that may have worked for earlier generations no longer works today." Not only are people living longer, they are also healthier and more active. That means your retirement years tend to be more costly. Demystifying investing and making it accessible to everyone is one of Charles Schwab's passions. In his new book, "You're Fifty - Now What? Investing for the Second Half of Your Life" (Crown Business, January 2001), Schwab helps readers create a financial strategy that takes them from their working years through retirement. Writing in user-friendly style, Schwab takes readers through a step-by-step process that helps them calculate what they have estimate what they will need choose appropriate investments, and manage their portfolios on an on-going basis. "You're Fifty - Now What?" offers numerous easy-to-follow worksheets, tables, and guidelines. Among the unique tools Schwab shares is the "guide of 230K". Based on research that factors in historical inflation rates and average retirement periods, this guideline enables readers to estimate how much they will need to have invested when they stop working. That's at least $230,000 for every $1,000 they will need to withdraw each month in retirement. Schwab also offers such tips as what to do with a stock or mutual fund that seems to be under-performing and how to choose what monies to withdraw from retirement and securities accounts first to minimize tax consequences. In addition, the book includes chapters on insurance, investment advisors, estate planning, and charitable giving. "Investing is about growth," explains Schwab. "It's about taking care of those you love. And it's about taking responsibility for your life." The first half of your life is known. What will you find in that great second half? The answer is up to you. "Planning for your future is simply a process that involves paying attention and sticking with it." "A good read for those who want a great retirement. Don't leave work without it." AgeVenture News Service. See related articles in the AgeVenture archives. Pension Penchant Rallies Retiree Readiness Retirement Continues to Re-invent Itself Gap Between Retirement Planning and Action AgeVenture News Service, www.demko.com BACK TO TOP View More Headlines