Guide to Finances after Fifty

Submitted by Jon Freeman 

Carrie Schwab-Pomerantz’s book, The Charles Schwab Guide to Finances After Fifty, answers different important questions people in their fifties or older who are retiring soon or are already retired may have about their finances. There are a total of 50 questions and answers given in the book. The Q&As cover a range of topics like things to do when retirement is ten years away, what to do with your finances as you transition into retirement, maximizing what you get from social security and medicare, life in retirement, and estate planning. There is a glossary of financial terms in the back of the book as well.

There are a variety of questions the book provides answers to, and here are just a few examples:

“I’m 50 and haven’t started to save for retirement. What can I do?”
“How can I save for my kids’ college without derailing my retirement?”
“The stock market has me spooked. How should I invest as I get closer to retirement?”
“Can I keep contributing to my retirement accounts indefinitely?”
“Should I be debt free before I retire?”
“What should I do with my 401(k) when I leave my job?”
“My kids are grown. Do I still need life insurance?”
“Should I take my pension as a lump sum or monthly payments?”
“Should I buy an annuity?”
“Now that I’m retired, how should I manage my money to make it last?”
“Does a reverse mortgage make sense?”
“When should I file for Social Security benefits?”
“My husband has no interest in our finances. How can I get him involved?”
“I have a child with special needs. What can I do to make sure that she will always be taken care of?”
“I want to create an estate plan. What do I need?”