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    Five Steps to a Stress-Free Retirement
    Five Steps to a Stress-Free Retirement
    Five Steps to a Stress-Free Retirement
    Ebook40 pages30 minutes

    Five Steps to a Stress-Free Retirement

    By Steve Hoover

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    About this ebook

    Whether you’re just entering the workforce or are facing retirement in the foreseeable future, NOW is the time to start planning for the retirement lifestyle you deserve. With just a little willpower and the right action plan, access the keys to making your golden years stress free. Topics covered include: types of debt and ways to reduce this financial burden, practical tips that make saving easy, the truth about owning life insurance, and ways to allocate assets and structure income more effectively.
    LanguageEnglish
    PublisherBookBaby
    Release dateOct 1, 2013
    ISBN9781483510415
    Five Steps to a Stress-Free Retirement
    Author

    Steve Hoover

    THE DOOR IN THE FLOOR is the first in the series THE HANNAH CHRONICLES: The Adventures of Hannah Hadley, Girl Spy. This is Steve Hoover's debut novel for young adults. He divides his time between Mississippi, Florida, and New England.

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      Book preview

      Five Steps to a Stress-Free Retirement - Steve Hoover

      CONCLUSION

      Introduction

      When you’re a kid, Christmas never arrives on time. Remember in elementary school, the days between Thanksgiving and December 25 just dragged by ever so slowly as you checked them off on the calendar? Then, in middle school the big day arrived a little faster, and in high school the final exams scheduled right before Christmas kept you occupied. In college, the semesters flew by, and now… time seems to be in warp speed.

      Isn’t retirement a little like that? When you began your career, time and endless possibilities seemed to stretch to – or even beyond - the horizon. As you get closer to the R word, however, time seems to speed up and suddenly you realize there are things you should have been doing and need to be doing to prepare.

      The concept of retirement didn’t appear on the American scene until the 1950’s when the middle class began to be able to earn enough money to live well and to actually save money. As wealth accumulation became possible, the idea of retirement began to take hold and people began planning for it. Those in their prime during the 1950s and 1960s (WWII generation) believed that not only were they providing a better life for their children (baby boomers), but they were sure that they themselves would have a better life – after all of their hard work of course.

      In the early days of retirement planning, deferred compensation arrangements known as CODAs (cash or deferred arrangements) allowed some compensation to be deferred. Several decades later, the Employee Retirement Income Security Act of 1974 (ERISA) paved the way for legislation that introduced 401k plans in 1978. What was to become the best ever retirement savings plan, the Individual Retirement Account (IRA), made its debut in 1974. Since then, several pieces of legislation have made the IRA even more appealing.

      No doubt you have participated in one or several of these plans over the years and are now dealing with issues that have to be addressed as retirement looms. Regardless of the type of plan you have, there are crucial steps to take toward achieving a stress-free retirement. These five steps will bring you as close as possible to where you want to be. You may have heard them 100 times, but they bear repeating. Keep in mind that traveling, hobbies, a lakeside home and helping your grandkids all require money, so discipline in these five areas is well worth the effort.

      Step 1. GET OUT OF DEBT!

      Getting out of debt,

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