[...]... accumulating and investing money prior to retirement and explains how to conserve and distribute your wealth during your retirement Copyirght 2003 by The McGraw-Hill Companies, Inc Click Here for Terms of Use 3 Protecting Your Wealth in Good Times and Bad years The main objective in Protecting Your Wealth in Good Times and Bad is to reach a point in life when you work only if you want to and, if you... UILDING AND MAINTAINING WEALTH can be divided into two tasks The first task, covered in Chapter 1, is saving money, which includes dutifully depositing small amounts into savings each month while working full-time The second task is investing those savings properly, from the day your first dollar goes into a savings account until the last day you remain among the living, and in some cases even into... forecasting on your savings? At what rate will you withdraw from savings in retirement? How much are you planning to leave to your heirs? 13 Protecting Your Wealth in Good Times and Bad Depending on your age, this book will help you answer each of those questions Let’s go over them in a little more detail now More precise information on these issues will be discussed in Part Three, A Lifelong Saving and Investing...Preface in detail, so you will need to do more research and read many more books If you are an experienced retiree, the material in this book will help prepare your family to make financial decisions on your behalf when you are no longer able to Protecting Your Wealth in Good Times and Bad is a combination of book research and years of personal experience helping and talking with concerned... get your advice and knowing how your advisor is getting paid and how much Part Two: Building Blocks to Success (Chapters 7-12) Part Two covers the fundamentals of accumulating wealth, focusing on how to save and invest Before investing your savings, you must decide where to invest Perhaps you work for an employer that has a 401(k) or similar savings plan This will allow you to automatically save and invest... Second, Protecting Your Wealth in Good Times and Bad is one book among several that you should read about managing your money It is one course in a lifelong self-study program where the diploma is financial security Appendix C has a partial list of other great books that I encourage you to read, understand, and incorporate in your personal plan of action Acknowledgments Hundreds of people directly and indirectly... reviewing the manuscript and for being a role model by tirelessly promoting business ethics in an industry that has trouble differentiating between right and wrong Thanks to Larry Swedroe, Bill Bernstein, Michael LeBoeuf, and Bill Schultheis, whose ideas and writings always impress and inspire Karen Norman, CPA, a member of The Garrett Planning Network, provided expertise on several financial planning... 14 A National Savings Dilmma of your account That means saving and investing properly during all stages of adulthood Chapter Summary People are living longer and spending more in retirement At the same time, the traditional sources of retirement income from Social Security and employer-funded pensions are diminishing Retirees in the future will rely more on their personal savings than in past generations... retirement and we need to invest our retirement savings more effectively to close this gap Few people have taken the time to figure out how much they should save for retirement and how to best invest those savings while accumulating money prior to retirement Protecting Your Wealth in Good Times and Bad is a guidebook designed to help you make those critical decisions Key Points 1 As a nation, we are not saving... savings plan and tens of thousands of nonprofit and government employers offer plans to hospital workers, teachers, and government workers In addition, small businesses also have their own version of employee-funded retirement plans Contributions to these plans are made through regular payroll deductions and many employers match a portion of those 7 Protecting Your Wealth in Good Times and Bad savings . Companies, Inc. Click Here for Terms of Use. 4 Protecting Your Wealth in Good Times and Bad years. The main objective in Protecting Your Wealth in Good Times and Bad is to reach a point in life. someplace in between, Protecting Your Wealth in Good Times and Bad will teach you how to develop and maintain a savings and investment plan that is easy to understand, low risk, low cost, and practical more wealth through saving and investing. Hopefully, if you follow the advice in this book, your retirement woes will be greatly reduced. In addition, Protecting Your Wealth in Good Times and Bad