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"Retirement planning for the rest of us"
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Are you retired or planning to retire soon?
Are you curious about how well your retirement plan will meet your needs?
Read on!
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Unlike other retirement models RW2 for YOU™, strives to answer all the major financial questions that retirees face - as many as 25 or 30 issues
per household. Few, if any, families need to worry about quite that many, but if you are typical, you probably face a dozen or more at the time of
retirement, and still have to deal with quite a few of them thereafter.
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If you are still working, though, and are more than a few years from retirement, and certainly if you are more than 10 years from retirement,
RW2 for YOU™ is not for you ...yet!
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What issues does RW2 for YOU™ address?
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RW2 for YOU™ will ask you about
your financial situation, and will determine which of these issues you need to consider. Then
it will advise you what to do on those that do apply.
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Is your planned retirement date feasible? If not, how much longer should you plan on working?
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Are your household expenses reasonable? Do you need to reduce them? Or can you afford to improve your standard of living, or provide for some
special expenses that you have in mind?
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Do you need to sell your home, or to extract some of the equity in your home? If you have a vacation home, can you afford to keep it?
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What rate of return should you be targeting for your savings and investments?
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When should you (and other members of your household) start taking Social Security, if you are not yet receiving benefits?
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If you have a traditional pension plan, which option offered by the plan makes the most sense for your situation?
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If you need to liquidate assets to provide necessary cash flow during retirement, or if you are restructuring your savings and investments,
which existing assets are most eligible to be disposed of?
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Should you be paying off credit cards or other debt? Should a mortgage be paid off, accelerated, or refinanced?
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Do you still need to hold onto existing life insurance policies? Do you need additional insurance for some reason?
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Would you and others in your household be provided for in case long-term medical care is needed? Should you buy long-term care insurance?
Do you need additional medical insurance?
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If you have parents or special needs children or others who are dependent on you, are they adequately provided for? What long-term financial
strategy is best for a special needs dependent?
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Would an annuity that provides benefits for as long as you and/or your spouse live be a wise purchase for you?
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Do you have the legal documents you need in order to assure that your wishes are carried out in case of death or mental incapacity?
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Can you afford to leave to others at your death the amounts that you may have in mind?
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Should you roll over your assets in employer-sponsored retirement plans into an IRA? Would a Roth IRA conversion be a good idea? Should
you change beneficiary designations?
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Should you accept an early retirement offer?
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What doesn't it do?
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RW2 for YOU™ will not mow your lawn or make a very good cup of coffee. It also will not give you highly specific advice on how
to implement your plan.
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RW2 for YOU™ does provide a comprehensive, integrated financial plan for you. It answers the questions listed above. It also provides basic
explanations of why it is making most of its recommendations. In addition, the online Help allows you to view and print more
detailed write-ups on specific issues that may concern you, or that are mentioned in your plan (e.g., explanations about reverse mortgages, annuities,
conservative investment strategies, how to find an assisted living facility or nursing home, etc.).
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But you will still have some things to figure out. RW2 for YOU™ will not tell you what specific new investments you should make. If it
recommends that you get an annuity or a long-term care insurance policy or some other financial product or legal document, it will not
tell you precisely which product or which provisions you should select. You will probably want to consult with financial or legal professionals
for help in carrying out some of the recommendations made in the plan.
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Still have questions about the application?
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RW2 for YOU™ User's Manual
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Want to know more about RW2 for YOU™?
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How difficult is it?
Is your information private?
How does it differ from other software?
Ordering details
RW2 for YOU™ home
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