Will You Have Enough Green For Your Golden Years?
North American Precis Syndicate
Certified Financial Planner Hans E. Scheil has written a definitive guide to help you prepare for and enjoy your retirement. (NAPS)
(NAPSI)—If you or someone you care about is among America's
more than 74 million baby boomers, you may be glad to know of a helpful new
book. It was written by a go-to resource for crisis financial planning, who
frequently receives referrals from nursing homes, assisted-living facilities
and home health agencies for clients in need of last-minute financial
planning assistance. The easy-to-read book, "The Complete Cardinal Guide to
Planning for and Living in Retirement" by Hans E. Scheil, CFP®,
can help you avoid a financial planning crisis in the first place.
All too many people count on Social Security as their main source of
retirement income but it doesn't really go very far—less than $1,500 a month
in current dollars, on average. The U.S. Department of Labor (DOL) estimates
you'll need between 70 and 90 percent of your pre-retirement income to
maintain your standard of living when you stop working. In addition, your age
has a big effect on your Social Security benefits. If you were born between
1943 and 1954, the Social Security Administration says, you can get full
benefits at age 66. This full retirement age will gradually rise toward 67
for those born after 1954. Claiming benefits too early can mean permanent
reductions to your income. What's more, according to 2015's "Medicare &
You," from the Centers for Medicare & Medicaid Services, at least 70
percent of people over 65 will need long-term care services and support at
some point in their lives.
Know What To Ask
According to Scheil, there are three questions you should find the answers
to if you're helping a family member navigate retirement:
• Does the elderly family member need power of attorney?
• Do you know the family member's existing policy benefits, including
long-term care insurance, Medicare Supplements, Medicare Part D prescription
drug plans and so on?
• Will you have to take over the family member's finances?
Scheil's 40-year career—as well as his personal involvement caring for his
mother, father and grandmother in their later years—provided hands-on
experience that he's now sharing. The book, which rose to be the No. 1 best
seller in Amazon's Retirement Planning category, is published by Tupelo Press
and sold through amazon.com and barnesandnoble.com. It's an
in-depth, easy-to-understand guide to retirement and long-term care to assist
retirees and their families through the most difficult financial complexities
they will likely face.
It also includes many items that are important for a successful
retirement, as well as the details of Social Security and Medicare, long-term
care, post-retirement investment strategies, tax reduction strategies and
more. Easy-to-understand chapter summaries, charts, reports and sample
documents help the reader gain a better understanding of each retirement
planning topic. Each chapter also provides an in-depth analysis of each topic
through real-life examples from Scheil's own practice.
A Lawyer's Letter
As one reader, an attorney who counsels clients in elder law and estate
planning, put it, "I find the Guide to be a valuable resource. After reading
the first chapter, it is clear that Hans has a wealth of personal and
professional experience in the area of planning for living in retirement.
Each chapter includes a summary that brings closure and deeper understanding
to the topics discussed. I plan to purchase additional copies for our
practice and will recommend the Guide to my older clients as well as family
members who are assisting them."
For more information, go to www.cardinalguide.com.
On the Net:North American Precis Syndicate, Inc.(NAPSI)