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Product Description 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. About the Author Jane Bryant Quinn is a leading commentator on personal finance. She is author of the bestselling Making the Most of Your Money NOW, Smart and Simple Financial Strategies for Busy People, and Everyone’s Money Book. Quinn has written for Newsweek, The Washington Post, Bloomberg, Woman’s Day, and Good Housekeeping. An Emmy Award winner, Quinn’s own program ran on PBS. She has also been a regular correspondent for the CBS Morning and Evening News. Her personal finance column currently appears in the AARP Bulletin. She lives in New York City and blogs at JaneBryantQuinn.com. Excerpt. © Reprinted by permission. All rights reserved. Chapter 1: The Joy and Challenge of Life After Work 1 The Joy and Challenge of Life After Work Now that you can do whatever you want, what do you want to do? Retirement challenges us like nothing else. We have to reinvent our lives. One day we’re part of the vast American workforce—living by the clock, attacking new projects, and focusing our minds and skills. The next day we can sleep until noon if it pleases us. Then we bound out of bed, free at last, ready for coffee and lunch and… what? Successful retirement—whenever it occurs—turns out to be work of another kind. The future now is almost as blank a slate as it was when you were 18 and wondering what was going to happen to you. Fifty years later, you’re fortified with knowledge and experience but with no place to take it. You might have a partner in life, children, grandchildren, status in your community, and a dog that loves you. Still, you have seven days a week and 52 weeks a year to fill. No sane human being can watch that much television or play that much golf. Maybe you’ll be able to stay at work well past normal retirement age, perhaps with shortened hours. But the last day of work can’t be held off forever. You need an action plan to transition into this new phase of life. You also need a financial plan to make the most of the income and savings that you have available. That’s what most of this book is about. “Money can’t buy happin