tailieunhanh - Protecting Your Wealth in Good Times and Bad Chapter 10

Chapter 10 Other Sources of Retirement Income. Traditional self-managed retirement accounts, such as IRAs and 401(k)s, typically invest in stocks, bonds, cash equivalents, and mutual funds. These accounts will be used to generate income during retirement. | Chapter 10 Other Sources of Retirement Income The meek shall inherit the earth but not the mineral rights. J. Paul Getty T raditional self-managed retirement accounts such as IRAs and 401 k s typically invest in stocks bonds cash equivalents and mutual funds. These accounts will be used to generate income during retirement. However most people also have wealth stored in property and other assets that can be used to help fund their retirement needs. This wealth includes such assets as the equity in their homes private businesses collectibles and the present value of their future Social Security benefits. Additional stores of wealth beyond individual self-managed accounts can be divided into three broad categories. The first category includes employment-related assets such as defined benefit pension plans incentive stock options restricted stock compensation and Social Security benefits. The second category covers direct business ownership including partnerships and incomeproducing real estate. The third category covers personal assets such as home equity vacation property precious metals and collectibles such as fine art and rare coins. Copyirght 2003 by The McGraw-Hill Companies Inc. Click Here for Terms of Use. 152 Other Sources of Retirement Income All of the assets discussed in this chapter either will generate income in retirement or can be converted to income-generating assets if needed. Some of the assets discussed in this chapter are relevant to everyone and some are relevant to only a small segment of the population. Nevertheless it is important when putting together a retirement plan to consider all the assets you own. This information will fall into place as you read Part Three of this book. Employment-Related Assets Employment-related assets are those benefits that you accumulate from an employer over a period of time. They do not include pay or cash bonuses or the savings that you contribute to an employee savings plan. These assets include defined .