How to Make Your Money Last - Completely Updated for Planning Today: The Indispe

Description: How to Make Your Money Last - Completely Updated for Planning Today by Jane Bryant Quinn "Completely updated for planning today"--Cover. FORMAT Paperback LANGUAGE English CONDITION Brand New Publisher 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? Thats the biggest worry for people newly retired or planning to retire. Fortunately, you dont 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 youre 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, youll 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. Author Biography 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 Everyones Money Book. Quinn has written for Newsweek, The Washington Post, Bloomberg, Womans Day, and Good Housekeeping. An Emmy Award winner, Quinns 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 from Book Chapter 1: The Joy and Challenge of Life After Work1 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 were 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, youre 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 youll be able to stay at work well past normal retirement age, perhaps with shortened hours. But the last day of work cant 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. Thats what most of this book is about. "Money cant buy happiness," they say, but it sure can buy food, shelter, heat, phone service, streaming movies on all our new devices, and gas for the car. A little extra buys plane tickets, ball games, concerts, and long-term peace of mind. Its hard to be happy if youre always worried about the bills. Learning how to stretch your available income and rightsize your life are the first steps toward retiring well. Even if retirement seems far away, steps you take now--to save and invest--can greatly improve your standard of living when your paycheck eventually stops. But before I talk money, Id like to talk about the nonfinancial challenges of life after full-time work. Theyre huge and, for most people, unexpected. We fling ourselves into leisure as if a grand vacation lay ahead. But permanent vacations can get pretty boring. When we were working, we had a sense of accomplishment and a place in the world, even if--at the end--we couldnt wait to quit. Now, having shut that door, we need another place. What are we retiring to ? Eventually, when you look back on your transition from work to retirement, youll think of it as perhaps the most creative period of your life. Most of us still need an active sense of social worth. But instead of getting it from a workplace, ready-made, we have to make it ourselves. The challenge is to discover new interests, new places, and new friends. Your weeks should fill up again with projects, meetings, entertainments, family visits, and events--activities you choose yourself, to gladden your days and give purpose to your life. Youll probably take on these projects at a leisurely pace. You wont want to be busy every minute. But neither will you want to look at a daily calendar thats blank. It takes time to move from the worker role to the role of engaged individual citizen. How long the transition takes will depend on your personal initiative and will. The faster you can bury the old "workplace you" and rise to a new "liberated you," the more content youre going to be. Not everyone moves into retirement willingly. You might lose your job and spend some unhappy weeks or months rehashing that stressful time. Your health (or your spouses health) might be dicey, which, for now, completely occupies your mind. The departure from work might have been so sudden that you had no time to prepare emotionally. Widows, widowers, and the divorced face similar problems. Theyve been forcibly "retired" from married life and now face their own blank slates. No matter how you get there, you (and your partner, if you have one) will have to figure out how to build another life. The questions will be the same for everyone. Who are you, anyway? For so much of our lives, we identify ourselves with our jobs. "Im a lawyer." "Im a teacher." "Im an operations manager." "I work for IBM." Those who have young children might also say "Im a mother" or "Im a father." Our jobs and family responsibilities give us meaning. When we quit, or the children grow up, theres an instant loss of status that few of us are truly prepared for. Were in a new role--that of citizen-retiree. Its an empty vessel until we fill it up. What are you going to do with the rest of your life? A 3G retirement (golf, gossip, and grandchildren) isnt always enough, cute as the grandchildren are. Most retirees today are vigorous, mentally alert, and eager to jump into something active and interesting. We have skills, smarts, and dreams. At work, we were accomplishing stuff, even if we got tired of it. As parents, we had the critical job of raising responsible adults. But what are we accomplishing now? Loss of meaning and purpose throws some retirees into depression, even those who thought they couldnt wait to start a leisured life. If you spend your hours in front of a laptop or TV set, youre likely to--quite literally--bore yourself to death. Youll need all your imagination and energy to discover a new role. Where will you find friends? When you worked, you made social contact simply by doing your job every day. You had people to chat with or complain about, customers to call on, and lunches with colleagues. When your job ends, however, your workaday friends are likely to fall away. You need to get out of the house and do things, not just for fun and intellectual interest but for the social companionship, too. Women are better at this than men, but it can be a challenge for both. THE FIVE STAGES OF RETIREMENT The gerontology researcher Robert Atchley studied the transition from working life to leisure. Retirement, he said, is a process, not an event. Some people hustle through the stages. Others take months, even years, to reach serenity. The better you manage the first stage, the faster your progress is likely to be. Stage 1: Preretirement. You gradually disengage from work. Youre still doing your job, but your imagination moves ahead. You talk with friends about their own plans for life after work and ask retired friends what theyre up to now. You put together a budget to see if, and when, you can afford to leave your paycheck behind. If youre married, you have many talks with your spouse about how you each expect retirement to work--your hopes and fears, where youll live, what youll do with your time, whether youll both retire at the same time and, if not, what the expectations will be. You think about what you might do next. If you hope for part-time work, nows the time to start making the contacts. There might be a project you can do for your current employer or others in your business. If youre being laid off, do your best to think about your next life, not your past one. Youre not "unemployed" (bad place), youre "semiretired" (better place). Forward is your only choice. Stage 2: The Honeymoon. Youre free! No more deadlines or office stress. Youll do some of the things youve been meaning to get to--clean the closets, paint the porch, take a trip. If you already have a lot of interests, you might step up your engagement with them. If youve led a high-pressure work life, you might simply rest with your feet up, read, go fishing, take walks, or watch ball games. Assuming that your retirement was planned, youre happy, happy, happy with your decision. Your honeymoon can last for many months, provided that youre moving quickly toward your other interests. But it might last only a week or two if you have nothing to do and nowhere to go. Stage 3: Disenchantment. Gradually, your days come to seem a little bit empty. You feel a loss of status, if you identified strongly with your job. To the younger, working world, youre obsolete. Even if you retired gladly, your new activities might not be as fulfilling as youd hoped. You see fewer people and feel more isolated, especially if your spouse or partner is still working. You might notice that money is going out the door faster than you planned. "Im failing at retirement," one friend told me gloomily. If you retired specifically to do something else, such as starting a business or taking up teaching, you might skip Stage 3 or pass through it pretty quickly. Ditto if youre an outgoing person who loves discovering new things. If not, disenchantment might catch you by surprise and slow down your adjustment. Youre not so eager to get out of bed and cant figure out how to spend your afternoons. You join a club or half try to volunteer for a local organization but it doesnt work out. If your health is poor, you might come to feel that your life is effectively over. Youre just taking up space. For some, Stage 3 might last a year or more while you obsess over what you "used to be." Stage 4: Reorientation. It dawns on you how bored (and boring) youve become. Emotionally, youre finally ready to advance. Some retirees will go back to work. For the rest, its like retiring all over again but with a more realistic eye. You take stock of your income and expenses and rightsize your life financially. You evaluate your experiments with new activities and start to engage more deeply with the one that interests you the most. One is all you need; others will come along. So will friends, who, like you, have retired and are Details ISBN1982115831 Author Jane Bryant Quinn Short Title HT MAKE YOUR MONEY LAST - COMP Pages 432 Publisher Simon & Schuster Language English ISBN-10 1982115831 ISBN-13 9781982115838 Format Paperback Year 2020 Publication Date 2020-01-07 Subtitle The Indispensable Retirement Guide Imprint Simon & Schuster Edition Description Revised, Updated ed. DEWEY 332.024014 Audience General We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:126739434;

Price: 38.93 AUD

Location: Melbourne

End Time: 2024-12-23T05:01:53.000Z

Shipping Cost: 0 AUD