Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    From $11.99/month after trial. Cancel anytime.

    How Can I Retire If I Am 62 and Broke?
    How Can I Retire If I Am 62 and Broke?
    How Can I Retire If I Am 62 and Broke?
    Ebook31 pages16 minutes

    How Can I Retire If I Am 62 and Broke?

    By Dale Maley

    ()

    Read preview

    About this ebook

    Most retirement books assume you have time to save and accumulate money or you already have a significant net worth. Most of the 67 million Baby Boomers who are approaching retirement age have run out of time to save and accumulate more wealth. This short story explores the options available to people reaching retirement age who are broke. After reading this short story, you will be able to make your own well-informed decision on how to optimize your chances of being able to retire.

    LanguageEnglish
    PublisherDale Maley
    Release dateMay 16, 2011
    ISBN9781458131287
    How Can I Retire If I Am 62 and Broke?
    Author

    Dale Maley

    Dale C. Maley is the author of the 19999 book Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pros. He is also a contributing author to Chapter 18 Seeking Help from Professionals in the 2009 book The Bogleheads Guide to Retirement Planning. He is a very successful private investor who has been a student of Financial Planning and Investing for over 30 years. He was trained as an engineer at the University of Illinois and has been a practicing engineer for 32 years. His accomplishments as an engineer include the granting of 16 U.S. Patents and authorship of over 500 professional technical papers. He is also a member of the International Society of Automotive Engineers and the Society of Manufacturing Engineers. He also has earned an MBA (Masters Degree in Business Administration) degree from Illinois State University. His background in mathematics, engineering, and business provides him with the excellent basis for understanding and teaching investments and financial planning. He is also a very successful investor who has been investing in common stocks and mutual funds since 1980. He has also personally invested in both 401(K) and IRA plans, so he is familiar with participation and management of these types of investments. He has been investing in indexed common stock mutual funds since 1990. Dale became a Registered Financial Advisor in the State of Illinois in 2006 and is currently launching his business as a fee-only financial planner. He is President of Maley Financial Planning LLC.

    Read more from Dale Maley

    Related to How Can I Retire If I Am 62 and Broke?

    Related ebooks

    Personal Finance For You

    View More
    View More

    Related podcast episodes

    Related articles

    • UNLIMITED

      Retirement Planning Checklist

      May 24, 2021

      Ideally, you should start planning for retirement the day you receive your first paycheck. But in reality, most of us don’t focus on retirement until much later—and that’s fine, as long as you’ve been saving throughout your career. Once you reach you

      10 min read

    • UNLIMITED

      Spend Without Worry in Retirement

      Aug 30, 2021

      The Irish poet and playwright Oscar Wilde once said that it’s better to have a permanent income than to be fascinating—a sentiment many retirees undoubtedly share. Unfortunately, the decline of traditional pensions in favor of 401(k) plans (and other

      12 min read

    • UNLIMITED

      5 Ways to Increase Your After-Tax Spendable Income - and Legacy

      May 16, 2019

      Over dinner with friends a few nights back, they expressed concern about how the recent tax law changes increased their federal income taxes. New rules limit the amount of property and state income taxes that can be deducted -- and they live in a hig

      5 min read

    • UNLIMITED

      Countdown to Retirement: 5 Years Away

      Jan 3, 2019

      At 5 years from retirement, you can see the light at the end of the tunnel. First thing? Check in with Social Security. Even if you've saved diligently, Social Security benefits will probably account for more than one-third of your retirement income.

      5 min read

    • UNLIMITED

      An Idiot Income Portfolio

      Sep 29, 2021

      An Idiot Income Portfolio
      5 min read

    • UNLIMITED

      Retirees: Don't Overlook Annuities. Really.

      Sep 20, 2018

      Most investors have grown to hate annuities. Hate them too much, in my view. In fact, if you'll read on, I think you'll agree that annuities make abundant sense for many retirees. My inbox used to be flooded with offers from annuity providers: "Sell

      3 min read

    • UNLIMITED

      Update Estate Plans in Light of New Tax Law

      Apr 28, 2018

      The new tax law has led some seniors to assume that they can delete estate planning from their to-do lists. But that is a dangerous assumption. Yes, the new tax law roughly doubles the federal estate-tax exemption, to about $11.2 million per person-

      4 min read

    • UNLIMITED

      Laddering Fixed-Rate Annuities Offers Rates That Beat Bank CDs, Plus Flexibility

      Feb 20, 2022

      With today’s low interest rates, it takes planning to create sufficient retirement income without taking more risk than you need to.  The days when you could get good income from a collection of Treasury bonds are long gone. You can get income from d

      3 min read

    • UNLIMITED

      Qualified Opportunity Zone Investing 101

      Nov 18, 2021

      In Congress, political discourse took a temporary break from feuding when both sides supported creating significant tax incentives for Qualified Opportunity Zone (QOZ) investing — as part of the 2017 Tax Cut and Jobs Act. The Act was co-authored by S

      6 min read

    • UNLIMITED

      7 Dividend ETFs That Do It Differently

      Jul 30, 2018

      Investors rely on exchange-traded funds to give them instant diversification across a wide number of strategies: growth, value, sectors, geography ... and of course, dividends. Dividend ETFs such as the Vanguard Dividend Appreciation ETF (VIG) and Va

      7 min read

    • UNLIMITED

      Planning to Retire in 3 Years? Here’s What Senior Level Executives Need to Do Now

      Mar 19, 2021

      One of my new clients plans to retire in three years following a successful 30-year career in Corporate America. Like many executives who have spent a lifetime at one employer, most of her income — salary, bonuses, stock options and other deferred co

      4 min read

    • UNLIMITED

      How To Prepare To Work With A Financial Planner

      Feb 6, 2022

      The hardest part about planning for your financial future is figuring out where to start. You already took the first step by performing your due diligence and selecting a financial planner. Now it is time to meet them to discuss your current situatio

      2 min read

    • UNLIMITED

      What’s Your Retirement Number?

      Dec 22, 2021

      As anyone who uses a fitness app can attest, setting goals can be a valuable motivational tool. The allure of the couch is easier to resist if your Fitbit or Apple Watch informs you that you’re well short of your daily step or exercise target. Likewi

      8 min read

    • UNLIMITED

      What Are Qualified Opportunity Zones? Important Details for Investors

      Aug 27, 2022

      Opportunity zones are identified by the IRS as communities in need of economic development and revitalization. Through tax incentives and investments in these underdeveloped areas, opportunity zones became part of the Tax Cuts and Jobs Act of 2017 an

      4 min read

    • UNLIMITED

      The Real Reasons People Decide to Buy Long-Term Care Insurance

      Apr 6, 2020

      In simple terms, long-term care insurance is about paying for assisted living or nursing home care as you age or in the event of a chronic condition or disability. Deciding whether it makes sense for you can seem like a basic math equation. All you n

      4 min read

    • UNLIMITED

      Tips for Retirees Who Are Single

      May 9, 2019

      Of all the letters I have received as author of this column--and I am fortunate to get a ton of them--two of the most sobering came from a couple of readers who are single. "Publications and websites talk to their readers as if they are always marrie

      2 min read

    • UNLIMITED

      What Type of Annuity Is Best For Me?

      Jun 28, 2019

      When you think about retirement, what's your biggest fear? If you're worried about running out of money, you're not alone. Survey after survey has found that building enough income to last through a long retirement is one of the top concerns for bab

      6 min read

    • UNLIMITED

      How to Turn 'Found' Money into a Retirement Income Stream

      Feb 19, 2018

      Save it or spend it? That's the question to answer when you find extra money. Kiplinger's Personal Finance magazine headlined its February 2018 issue with great approaches when the figure at hand is $1,000, $10,000 or $100,000. I have some ideas, to

      2 min read

    • UNLIMITED

      Top 10 Reasons Real Estate Investors Are Jumping into DSTs

      Mar 21, 2021

      In the last 12 months billions of American real estate investment dollars have poured into DSTs (Delaware Statutory Trusts) via the 1031 exchange process.  What is a DST?  A Delaware Statutory Trust is a legal entity formed under Delaware law that al

      3 min read

    • UNLIMITED

      3 Alternative Asset Strategies to Diversify Your Retirement Portfolio

      Mar 20, 2021

      As you move toward retirement, the investments you’ve relied on to build a retirement savings portfolio may not be the best fit when it comes to generating retirement income. If you’re like most near-retirees, you’ve worked hard to save through your

      5 min read

    • UNLIMITED

      Protect Your Retirement Income from Inflation

      Sep 2, 2022

      If you’re a retiree (or near retiree) who isn’t worried about inflation, you’re either fabulously wealthy or not paying attention. Even for super savers, inflation is retirement kryptonite. To keep up with rising costs, you may be forced to take larg

      12 min read

    • UNLIMITED

      A Risk-Averse Approach to Real Estate Investing

      Mar 22, 2021

      The highest profile professional real estate developers and investors are typically those who have won big or lost big — they made their names taking oversized risks that in some cases paid off handsomely and in other cases crashed and burned. But re

      3 min read

    • UNLIMITED

      Top 5 Retirement Podcasts Everyone Should Listen To

      May 9, 2019

      Personal finance isn't always exciting, but mastering its main tenets is always important. Learning the basics of investing, how to reduce your tax bill, and how to save more of your paycheck each month can help you achieve a more fruitful life -- an

      4 min read

    Related categories

    Reviews for How Can I Retire If I Am 62 and Broke?

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      How Can I Retire If I Am 62 and Broke? - Dale Maley

      How Can I Retire If I Am 62 and Broke?

      by

      Dale C. Maley

      SMASHWORDS EDITION

      * * * * *

      PUBLISHED BY:

      Artephius Publishing on Smashwords

      How Can I Retire If I Am 62 and Broke?

      Copyright © 2011 by Dale C. Maley

      All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise) without the prior written permission of both the copyright owner and the above publisher of this book.

      *****

      Table of Contents

      Chapter 1

      Historical Wealth Distribution

      Chapter 2

      Alternatives

      Chapter 3

      Working Longer

      Chapter 4

      Reduce Expenses

      Chapter 5

      Down-Size Your Home

      Chapter 6

      Sell Home and Rent

      Chapter 7

      Move to a Lower Cost State

      Chapter 8

      Move to a Lower Cost Country

      Chapter 9

      Exchange Your House for an RV

      Chapter

      Enjoying the preview?
      Page 1 of 1