Table of Contents
   Prefacep. xv
   Introduction: Can You Retire?p. 1
      The Savage Numberp. 7
         Shaping Retirement Realityp. 9
         Avoiding Generation Warfarep. 12
         Hoping for a Miracle?p. 14
         You're Not Alonep. 15
         The Likely Solution: Retro-Retirementp. 17
            The Starting Pointp. 18
      Time Is Moneyp. 19
         Consuming Time and Moneyp. 21
         Running Out of Timep. 22
         What's Your Time Worth?p. 23
         The Time Value of Moneyp. 24
            How to Avoid Wasting Time (and Money)p. 25
      The 10 Key Questionsp. 27
         How Long Will I Live?p. 29
         What Will Inflation Do to the Value of My Savings?p. 30
         How Can I Save Enough?p. 31
         How Should I Invest the Money I've Saved for Retirement?p. 32
         How Much Will I Spend to Live in Retirement?p. 33
         How Much Can I Withdraw Each Month without Running Out of Money?p. 34
         What's the Biggest Danger to My Retirement Plans?p. 35
         How Can I Earn Money during Retirement?p. 36
         How Can I Retain Control of My Financial Life?p. 37
         What If I Have Money Left Over When I Die?p. 38
         Getting the Answersp. 39
            Getting Your "Ballpark Estimate"p. 40
   Monte Carlo Your Money
      The Savage Answer: Monte Carlo Modelingp. 45
         Monte Carlo Modeling: How It Worksp. 46
         Beware of Averagesp. 48
         Monte Carlo Modeling and Retirement Planningp. 52
         Monte Carlo and Youp. 56
            Do-It-Yourself Monte Carlo: ToolsforMoney.comp. 58
      Saving Up, Drawing Downp. 59
         Accumulation Phasep. 61
         Withdrawal Phasep. 63
         The Right Balancep. 64
            Seven Best Ways to Save for Retirementp. 65
      Getting It All Togetherp. 69
         Online, on Paper, on Your Computerp. 71
         Free Online Money Managementp. 72
         The Basics: Paying Bills Onlinep. 74
         Organizing Your Online Financial Lifep. 76
         A Credit Checkupp. 78
         Portfolio Trackingp. 79
         Quickenp. 80
         Morningstarp. 81
         Moving Beyond Tracking-to Advicep. 85
            Resources for Getting It Togetherp. 85
      A Road Map to Monte Carlop. 87
         The Best Routesp. 90
            Financial Enginesp. 91
            Morningstar Asset Allocatorp. 93
            T. Rowe Pricep. 94
            Fidelityp. 95
            Vanguardp. 96
            Financial Plannersp. 98
         Arriving in Monte Carlop. 99
            Choosing a Financial Adviserp. 100
   Investing for Retirement
      Stocks, Bonds, and Chicken Moneyp. 105
         Realistic Stock Market Expectationsp. 108
            Stock Market Returns-Then and Nowp. 109
            Historic Returns-The Big Picturep. 110
            Long Term-Do You Have 20 Years?p. 112
            Persuasive Perspectivep. 113
            Opportunity of a Lifetime?p. 114
            What to Expect-The Next 20 Yearsp. 116
         Understanding Bondsp. 119
            How You Can Lose Money in Bondsp. 120
            The Advantage of Bond Fundsp. 121
            Total Return, Total Riskp. 122
            Stocks versus Bonds-An Alternative?p. 125
         Keep Your Nest Eggs Safe with Chicken Moneyp. 125
            Chicken Money Investmentsp. 126
            Chicken Money and Riskp. 128
         A Minute on Mutual Fundsp. 128
            Resources for Stocks, Bonds, and Chicken Moneyp. 130
      Beyond the Basicsp. 133
         Exchange-Traded Fundsp. 135
         Real Estate Investment Trustsp. 137
         Gold and Natural Resourcesp. 138
         The U.S. Dollarp. 140
         Optionsp. 141
         Futuresp. 142
         Hedge Fundsp. 144
            Resources for Investingp. 146
      One-Step Retirement Investingp. 149
         Buying the Whole Marketp. 151
            Index Mutual Fundsp. 151
            Exchange-Traded Funds: Spidersp. 152
            Futures: E-mini S&P 500p. 152
         Retirement Investing Made Easy: Targeted Retirement Fundsp. 153
            How Targeted Retirement Funds Workp. 154
            Comparing the Companiesp. 155
         Starting Small-No Excuses!p. 157
            U.S. Global Funds-ABC Planp. 158
            ShareBuilderp. 158
            Make the Callp. 159
   Streams of Retirement Income
      Where Will the Money Come From?p. 163
         The Balancing Act: Income versus Principalp. 165
         Gainful Employment in Retirementp. 166
         Withdrawals from Retirement Accountsp. 168
            Where and When to Withdrawp. 168
            Required Minimum Distributions and Required Beginning Datep. 170
            Getting It Rightp. 171
         Generating Income from Your Portfoliop. 172
            Laddering: A Bond Strategy for Retirementp. 172
            Covered Call Writing to Add Investment Incomep. 173
            Income Resourcesp. 175
      Annuities for Income and Tax-Deferred Growthp. 177
         Immediate Annuitiesp. 179
         Tax-Deferred Annuitiesp. 181
            Fixed-Rate Tax-Deferred Annuitiesp. 182
            Variable Tax-Deferred Annuitiesp. 182
         The Latest Annuity Productsp. 183
            Guaranteed Minimum Income Benefitsp. 183
            Equity-Indexed Annuities: A Warningp. 186
         Tax-Deferred Annuity Withdrawalsp. 188
         Tax-Deferred Annuity Exchangesp. 188
         Your IRA Inside an Annuity?p. 189
         Annuities: The Real Risk Factorp. 190
            Annuity Information and Pricingp. 191
      Social Security and Medicarep. 193
         Social In-Securityp. 194
            How Much Can You Expect?p. 196
            How Much Can You Earn?p. 198
            How to Apply for Benefitsp. 199
         Medicarep. 200
            Medicare Enrollmentp. 200
            How Medicare Worksp. 201
            Medicare Supplement Policiesp. 202
            Medicare Prescription Coverage-Part Dp. 203
         A Final Thought about Social Security and Medicarep. 204
            Government Benefit Resourcesp. 204
      How to Turn Your Home into Your Pensionp. 205
         Reverse Mortgagesp. 206
            Reverse Mortgage for Incomep. 207
            Reverse Mortgage for Purchasep. 209
         More Income from Your House Using Trustsp. 210
            Installment Salep. 210
            Private Annuity Trustp. 211
            Reverse Mortgage Resourcesp. 213
   Long-Term Care: The Greatest Risk of All
      Long-Term Care Insurance: Who Needs It?p. 217
         The Government's Role in Long-Term Carep. 219
         Insurance for Your Retirementp. 222
         Our Parents, Ourselvesp. 223
         Long-Term Care Insurance: A Woman's Issuep. 224
         What If You Don't Use It?p. 225
         Why You Shouldn't Procrastinate!p. 226
            Long-Term Care-The Factsp. 227
      How to Understand Long-Term Care Coveragep. 229
         Rising Demand, Soaring Costsp. 231
         When to Buy? While You Can!p. 232
         How Do I Use My Policy?p. 234
         What Should My Long-Term Care Policy Cover?p. 235
            Elimination Periodp. 235
            Daily or Monthly Benefitp. 236
            Length of Benefitp. 236
            Inflation Protectionp. 237
            Reimbursement Policyp. 237
            Guarantee Periodp. 238
            Spousal Discountsp. 239
            Intergenerational Transfersp. 239
            Care Coordinatorsp. 240
            Optional Ridersp. 240
            Partnership Programsp. 241
            International Coveragep. 242
            Key Elements of a Long-Term Care Insurance Policyp. 242
      Buying Your Long-Term Care Policyp. 243
         Which Insurance Company Should You Choose?p. 244
         What Should It Cost?p. 245
         10-Pay: Controlling Price Riskp. 246
         Long-Term Care Policies and Income Taxesp. 247
         Paying for Long-Term Care with Life Insurance and Annuitiesp. 248
            Acceleration Ridersp. 249
            Blended Life Insurance Policiesp. 249
            Blended Annuitiesp. 250
         Employee Group Long-Term Care Policiesp. 251
         The Federal Long-Term Care Insurance Programp. 252
         Long-Term Care Insurance from Affinity Programsp. 252
         A Final Argument: The Cost of Not Having Long-Term Care Insurancep. 253
            Resources for Purchasing Long-Term Care Insurancep. 254
   Estate Planning: The Price of Success
      What's Left?p. 259
         What Could Happen?p. 261
         What Is Your Estate?p. 263
         What Are Estate Taxes?p. 263
         What Is Probate?p. 264
         What Is a Revocable Living Trust?p. 265
         Health-Care Power of Attorneyp. 266
         Living Willp. 266
         Durable Power of Attorneyp. 267
         Naming Retirement Plan Beneficiariesp. 267
            Your 401(k) Plan Beneficiaryp. 268
            Your IRA Beneficiaryp. 269
         What Else Should You Consider?p. 271
            Guardianship of Childrenp. 271
            Bequests to Minor Childrenp. 271
            Trusts for Disabled Adult Childrenp. 271
            Division of a Businessp. 272
         Moving Assets Out of Your Estatep. 272
            529 College Savings Plans to Avoid Estate Taxesp. 273
            Reverse Mortgage to Fund Life Insurance Outside the Estatep. 273
         Life Insurance and Your Estatep. 274
            What Kind of Life Insurance Do You Need?p. 274
            Keep Life Insurance Outside Your Estatep. 275
            Changing Policiesp. 276
         Spouses and Estate Planningp. 276
         Choosing an Estate Plannerp. 278
            Estate Planning Checklistp. 279
   Conclusionp. 281
   Acknowledgmentsp. 283
   Indexp. 287