Edition DescriptionRevised edition
SynopsisThe challenge for everyone, at midlife and later, is finding ways of stretching your savings over a retirement that could last for 30 years or more. The new and updated edition of this popular book shows you how. You'll find answers to such critical questions as: Will you still be able to get health insurance, and what are the new rules? When should you claim your Social Security benefits, and what if they're cut? How do you invest for income when interest rates are low? How do you recognize a true investment adviser among all the new (and legal) fakes? What's the best way to construct a budget that matches your spending to the future income you expect? How can you use your home equity to help make your savings last? Does it make sense to buy a lifetime annuity and, if so, which one? You can count on Jane Bryant Quinn. She always tells it straight. At a time when people are living longer and retiring with less money than they'd hoped for, this book is the essential guide. Book jacket., NOW COMPLETELY UPDATED to reflect the changes in tax legislation, health insurance, and the new investment realities. In this "highly valuable resource" ( Publishers Weekly , starred review) Quinn "provides simple, straightforward" ( The New York Times ) solutions to the universal retirement dilemma--how to make your limited savings last for life--covering mortgages, social security, income investing, annuities, and more! Will you run out of money in your older age? That's the biggest worry for people newly retired or planning to retire. Fortunately, you don't have to plan in the dark. Jane Bryant Quinn tells you how to squeeze a higher income from all your assets--including your social security account (get every dollar you're entitled to), a pension (discover whether a lump sum or a lifetime monthly income will pay you more), your home equity (sell, rent, or take a reverse mortgage?), savings (how to use them safely to raise your monthly income), retirement accounts (invest the money for growth in ways that let you sleep at night), and--critically--how much of your savings you can afford to spend every year without running out. There are easy ways to figure all this out. Who knew? Quinn also shows you how to evaluate your real risks. If you stick with super-safe investment choices, your money might not last and your lifestyle might erode. The same might be true if you rely on traditional income investments. Quinn rethinks the meaning of "income investing," by combining reliable cash flow during the early years of your retirement with low-risk growth investments, to provide extra money for your later years. Odds are, you'll live longer than you might imagine, meaning that your savings will stretch for many more years than you might have planned for. With the help of this book, you can turn those retirement funds into a "homemade" paycheck that will last for life., NOW COMPLETELY UPDATED to reflect the changes in tax legislation, health insurance, and the new investment realities. In this "highly valuable resource" ( Publishers Weekly , starred review) Quinn "provides simple, straightforward" ( The New York Times ) solutions to the universal retirement dilemma--how to make your limited savings last for life--covering mortgages, social security, income investing, annuities, and more Will you run out of money in your older age? That's the biggest worry for people newly retired or planning to retire. Fortunately, you don't have to plan in the dark. Jane Bryant Quinn tells you how to squeeze a higher income from all your assets--including your social security account (get every dollar you're entitled to), a pension (discover whether a lump sum or a lifetime monthly income will pay you more), your home equity (sell, rent, or take a reverse mortgage?), savings (how to use them safely to raise your monthly income), retirement accounts (invest the money for growth in ways that let you sleep at night), and--critically--how much of your savings you can afford to spend every year without running out. There are easy ways to figure all this out. Who knew? Quinn also shows you how to evaluate your real risks. If you stick with super-safe investment choices, your money might not last and your lifestyle might erode. The same might be true if you rely on traditional income investments. Quinn rethinks the meaning of "income investing," by combining reliable cash flow during the early years of your retirement with low-risk growth investments, to provide extra money for your later years. Odds are, you'll live longer than you might imagine, meaning that your savings will stretch for many more years than you might have planned for. With the help of this book, you can turn those retirement funds into a "homemade" paycheck that will last for life.