ABSTRACT
What makes for a successful retirement? How much of one’s living costs during retirement will be covered by Social Security? How much additional will be needed from personal saving? What is the best way to save for retirement? When is the best time to retire? What expenses are commonly encountered in retirement? What medical coverages are needed? Such questions—and more—are the focus of this chapter. As you read, be on the lookout for several key terms: “replacement ratios,” “Social Security,” “pension,” “IRA” and “Keogh,” “Medicare,” “annuities,” and “retirement test.”
If I’d known I was going to live so long, I’d have taken better care of myself.
—Often heard lament