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May 2016

New Book: The Retirement Rescue Plan

A new book called The Retirement Rescue Plan by Melissa Phipps is an all-in-one survival kit for retirement planning. 

In this smart, useful book, Melissa Phipps guides pre-retirees through engaging self-evaluation exercises, explains financial matters simply and clearly, and discusses key aspects of today’s retirement challenge, including strategies to find the right kind of work. Phipps’ expert advice is sure to assist anyone in planning and executing a successful retirement.

The Retirement Rescue Plan will be helpful if you are considering retirement or even if you are already retired. I highly recommend it. You can purchase it directly from Amazon below. 


Start a Home Business in a Month

From HappilyRewired.com:

Boomers searching for a way to earn income may find it right in their own home. A home business is a viable alternative for many Boomers who are looking for part-time work and are just as happy being their own boss as working for someone else.

Leslie Truex, a home business expert on About.com, has a step-by-step plan that will help you set up a home business in just one month. "During this first week," writes Leslie, "you’ll be researching, planning and beginning the initial steps to launching your business. During the second week, you’ll be putting your business foundation in place. The last two weeks will be about marketing and delivering great products and services."

Leslie breaks her plan into four easy-to-read sections, with every action item divided into daily to-do's. Each action item comes with a helpful description. This is a great way to segment the process of starting a business into manageable steps so it doesn't seem so overwhelming.

Check out the first installment of Leslie's four-part series here.

Another home business option for Boomers is working together as a couple. While some couples can't envision working together, it does have significant advantages --in fact, the best business partner you could have might be your spouse. My wife and I started and ran a service business together for over six years and then sold it. We tell how we did it in our book, Let's Make Money, Honey: The Couple's Guide to Starting a Service Business. It will help any couple evaluate whether starting a business together is the right thing to do and give you tips for making your business more successful. 

 


Unexpected Retirement Costs can Surprise You

No one likes to live with uncertainty, but many Boomers cannot be certain their retirement will be smooth and uneventful. Other than health, the largest concern of Boomers is whether they will have enough money to retire. It's one thing to know what your anticipated expenses will be in retirement -- but what about those costs you didn't expect?

In an article posted on NextAvenue.org, Alaina Tweddale details six specific unexpected retirement costs that should be on your radar screen. Some may be more obvious, such as emergencies, but others, including market volatility, ongoing maintenance, and underlying investment fees, could catch you by surprise. Alaina discusses all six, with helpful detail about each.

This article is definitely worth reading.

By the way, NextAvenue.org is an excellent PBS-sponsored source of valuable information for Boomers. I highly recommend it.