Seven Steps to Financial Freedom in Retirement

The Financial Lifestyle Guide is an educational book, providing the sum of Hank Parrott's knowledge of financial planning in an easy-to-understand format. Far from just explaining more advanced planning strategies, Hank starts from the beginning by explaining the basics of IRAs and 401(k)s, before launching into a more in-depth discussion of the strategies and tax implications thereof. The book assesses your accounts to determine all of your assets. Author Hank Parrott helps to determine your projected lifestyle expenses post-retirement. Finally, he works to draw a road map between what you have and what you need, along the way showing what types of products and accounts will get you there. The book addresses: IRAs annuities, bonds, and CDs the perils of "stock picking" the basics of Estate Planning and much more

HANK PARROTT is founder and President of Estate & Financial Strategies, Inc., a Tennessee-based firm providing a full range of financial advising and estate planning services that has served thousands of clients throughout the country. Specializing in estate and retirement planning; insurance and annuities; and tax planning, Parrott is a Chartered Financial Consultant (ChFC), an Accredited Estate Planner (AEP), and a Registered Financial Consultant (RFC).

Introduction	p. xiii
Getting the Nest Egg Ready to Hatch	p. 1
A New Approach	p. 2
What You've Got	p. 5
Where Are Your Retirement Resources?	p. 11
Looking Forward	p. 15
Putting Your Assets to Work for You	p. 17
The Old Way: Maximizing Returns Based on Risk Tolerance	p. 17
The Hank Parrott Way: The Smart Money Approach	p. 19
Looking Forward	p. 29
IRA Mastery	p. 31
Planning for Taxes	p. 32
What Makes Up a Traditional IRA?	p. 35
Traditional and Roth IRAs: Learn the Difference!	p. 39
Tax Considerations When Investing IRA Assets	p. 43
Taking Distributions from Traditional IRAs	p. 45
Estates and IRAs	p. 48
Passing It Along	p. 49
Looking Ahead	p. 51
Enhancing Your Retirement with Built-in Guarantees: Annuities, Bonds, and CDs	p. 53
Bonds: What Is Guaranteed and What Is Not	p. 53
Annuities: Separating Myths from Truth	p. 58
CDs: A Key Element in an Income-Generating Retirement Portfolio	p. 73
Putting It All Together: Investing for the Long Term	p. 82
How the Smart Money Invests	p. 83
Learning through Trial and Erro	p. 84
The Real Story	p. 85
Starting Off: The Retirement Investor Quiz	p. 89
Busting the Investment Myths	p. 90
Active Management	p. 94
Tune Out the Media's Advice	p. 96
Investing versus Speculating: Know the Difference!	p. 96
A Real Story About Speculative Investing	p. 97
The Smart Money Investment Strategy	p. 98
All About Asset Allocation	p. 100
How Do You Measure Diversification?	p. 102
The Importance of Staying Disciplined	p. 103
Tax Planning and Investments	p. 104
My Best Advice	p. 107
Looking Forward	p. 107
Paying for Helping Hands: The Ins and Outs of Long-Term Care	p. 109
What Are Your Options?	p. 110
Planning Ahead	p. 111
Common Myths About Long-Term Care	p. 112
How! You'll Pay	p. 115
Examining Which LTC Payment Option Works for You	p. 116
Understanding Long-Term Care Insurance	p. 119
Frequaently Asked Questions	p. 125
Last But Not Least	p. 127
The Basics of Estate Planning	p. 129
Why Estate Planning?	p. 130
Problematic Probate	p. 131
All About Trusts	p. 136
The Five Essential Documents	p. 137
Lightning Round: Other Types of Trusts	p. 141
Whom Should I Name as Trustee?	p. 144
The Value of Real Professionals: Finding the Right Certified Expert	p. 145
Frequently Asked Questions	p. 147
Estate Planning Checklist	p. 149
Where to Go from Here	p. 150
Appendix A: Confidential Lifestyle Questionnaire	p. 151
Appendix B: Lifestyle Expense Worksheet	p. 161
Appendix C: Financial Lifestyle Fact Finder	p. 165
Acknowledgments	p. 177
About the Author	p. 181
Index	p. 183
Table of Contents provided by Ingram. All Rights Reserved.

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Seven Steps to Financial Freedom in Retirement

Summary

Author Biography

Table of Contents

Supplemental Materials