[Full stories also available online at www.CNNMoney.com ]

 

SPECIAL REPORT: RETIRE RICH: HOW TO MAKE YOUR MONEY LAST A LIFETIME

Until now the focus of retirement planning has been The Number, that intimidating sum that's supposed to be every saver's finish line. But hitting your number isn't, in fact, the end of the job. At that point another challenge begins. It's called the drawdown-a kind of high-wire act in which your goal is to come up with enough cash to lead the life of your dreams but not spend so much that the money gives out before you do. No easy task, to be sure, but it's nothing you can't handle with smart strategies, a realistic attitude and the right preparation. You'll find help with all three in this special report. Because your goal isn't just to retire rich. It's to stay that way.

•  CAN YOU LIVE LONG AND PROSPER? , by Pat Regnier, page 96

Here's a scary thought: Saving for retirement is the easy part. Making your money last 30 or 40 years after you stop working-now that's a neat trick to pull off.

 

•  AN INCOME PLAN THAT'S BUILT TO LAST , by Walter Updegrave, page 106

Once you've constructed that golden nest egg, you're not quite ready to retire. You still have to turn it into an income that will support you in style for decades to come.

 

•  AFFORD THE CARE YOU NEED, by Cybele Weisser, page 112

What's your best move on long-term care? Nursing-home insurance is still far from being the obvious solution.

 

•  THE NUMBER GAME , by Michael Sivy, page 117

When figuring out how much money you need for retirement, don't rely on a simple rule of thumb. Instead, ask what the life you want would really cost you-or better yet, save you.

 

•  WHAT WORKS IN RETIREMENT PLANNING , by Penelope Wang page 124

A fast-growing field of research is starting to uncover why some retirement savers succeed and others fail.

 

•  SEVEN STOCKS FOR THE REALLY LONG RUN, by Michael Sivy, page 132

The best investments are the ones you can hold for decades. You'll lower your tax bill and your trading costs-and maximize your chances for great returns.

 

•  BEST PLACES TO RETIRE, page 142

For MONEY's annual selection of best places to retire, we sought out tax havens-cities that have particularly low burdens for residents. But we weren't just looking for cheap places to live. We were looking for amazing places-cities with access to quality health care, rational home prices and lots of cultural and leisure activities-that don't soak their taxpayers. This year's picks are:

•  Walla Walla , WA

•  St. Simons Island , GA

•  Prescott , AZ

•  Holland , MI

•  Williamsburg , VA

 

DO IT NOW: EFFORTLESS FINANCES IN FOUR EASY STEPS , by Carolyn Bigda, page 49

Wouldn't it be nice to have a personal assistant to pay your bills, file your records and remember to fund your IRA every now and then? Well, if you make more of your financial life electronic, you can (virtually). And by putting money chores on autopilot, you can avoid mistakes and clear the clutter out of your home office, all for little or no cost. Start with the easiest tasks and go from there.

•  Never Cash a Check Again

•  Never Write a Check Again

•  Save Money Without Tears

•  Get (and Leave) Bills Online

 

RINGING UP BABY: WHAT INFANTS REALLY COST , by Ryan D'Agostino, page 51

You get a lot of financial advice when you're about to have a baby. Sometimes it pays to listen.

W hen you're expecting a baby, you get a lot of advice. Grandparents-to-be, co-workers, affectionately nosy old ladies on the bus-everyone has ideas. Some are helpful. Some are questionable. As the bromides add up, it's clear there's a lot to learn. That's okay when we're experimenting with blankets and mobiles, but the financial advice can be worrisome. The basics are easy: buy more life insurance, write a will and start a college fund as soon as the little bugger has a Social Security number. What's scary is the stuff you don't know. MONEY editor and expecting father, Ryan D'Agostino sifted through some of the tips he received to determine which are helpful and which are useless. His conclusion: While a few financial changes are inevitable when you have another mouth to feed, a newborn doesn't have to turn your finances upside down. Only your sleep schedule.

 

 

A LAW BULKS UP THE 401(k) , by Penelope Wang, page 29

How the new pension bill can help you pack on the savings.

A "good bill." That's how President Bush described the 1,304-page Pension Protection Act as he signed it into law in August. With all due respect, though, a better description would be "a mixed bag." Retirement savers will find a lot to like in the new rules. But far from protecting traditional pensions, the bill may actually speed their decline. MONEY read the law with a skeptical eye and pulled out what you really need to know.

 

JUST WHEN YOU THOUGHT IT WAS SAFE TO RETIRE. , By Jean Chatzky, page 37

How to cope with the "senior sandwich"-paying for retirement, your parents' care and college-all at once.

You know you're officially part of a trend when someone gives you a catchy label, and there's a new one out there: the 60-year-old kid. It means someone who is just short of retirement age and still has at least one parent who's alive and kicking. Cute, eh? Never have there been so many people in their golden years whose parents are still living, so the fact that the term is entering the lexicon is no surprise. How can you turn the situation from a source of concern into an opportunity to create peace of mind? If you're already bumping up against the big six-oh, you have options: Plan on working a little longer, living a little leaner and encouraging your kids to study hard and qualify for merit aid. If you're 40 or 50, you're in an even better position-especially if you take these four steps.

 

ON THE ROAD TO FINANCIAL HEALTH , by Clint Willis, page 41

Recovering from a serious illness can give you a new perspective-and a new set of financial challenges.

When you're battling a serious illness, you aren't likely to have much time or energy for bill paying, let alone financial planning. Meanwhile, your finances are undergoing radical changes as you deplete your emergency fund (so that's what that money was for), dip into savings and, possibly, pile up debt. As soon as you're better, it's critical to assess your new circumstances-to figure out how much you're spending (especially if you need ongoing care that isn't covered by insurance), how much you have left in savings and, perhaps most important, how much you owe. Once you have a better sense of where you stand, perform financial triage-that is, identify your most threatening money problems and come up with a plan to deal with them.

 

WOULD A HOME OFFICE PAY OFF? , by Josh Hyatt, page 59

On the one hand, gas savings and a sweet tax deduction. On the other, a little thing called your career.

Not so long ago, anybody who claimed to be "working from home" was merely using the accepted code phrase for nursing a hangover and hiding under the covers until The Price Is Right came on. But these days, with all the technology that's available, from wireless networking to voice over Internet protocol, there's a strong possibility that stuff is actually getting accomplished. Nearly 27 million folks will be working from home offices by year's end, according to research firm International Data Corp. These employees will save not only time-an average commute of 24.3 minutes each way, according to U.S. Census data-but also money. Imagine: Fewer horrifying visits to the gas pump, less to drop off at the dry cleaner, no more pricey takeout lunches. Better yet, those who toil exclusively from home can often take hefty tax deductions. On the downside, however, there are potential costs to your career and home value to weigh. MONEY asks the six questions that will help determine what is best for you.

 

ALL THAT GLITTERS. BUYING JEWELRY, by Amanda Gengler, page 163

Jewelry costs more than it used to, diamonds and precious metals especially. But if you shop smart and know your alternatives, you can still get a gem of a deal.

Go to the jewelry store these days, and you'd better be prepared for the bling to sting. Increased demand for diamonds in the past few years has pushed the price of some quality natural stones up more than 30%. Likewise, precious-metals prices have skyrocketed-and more than 80% of jewelers plan to pass some of these higher costs on to consumers. Since retailers typically order their stock six months in advance, those pricier pieces are only now beginning to show up in stores. Just in time for the holidays. But don't let sticker shock deprive you of baubles and baguettes. As with any investment, understanding the market can help you shop wisely and save. MONEY explains how.

 

THE ESSENTIAL THREE: TAILGATING GEAR, by Charles Passy, page 166

When it comes to football, there are really two fields of play, the one inside the stadium and the one out in the parking lot. The turf outside may be artificial (read: asphalt), but the burgers and camaraderie are real. If you want to be a first-string player, you gotta have the goods.

•  Sirius Sports Boombox

•  Freedom Grill FG-100

•  Team Gear

 

PLUS:

START : [3 Tips] Real Estate's Wild Ride Profit in a falling real estate market; Stay Cybersafe 67% of people can't tell an unsecure website from a safe one; here's how; Check No Bags? Baggage-check lines are a drag-ship your luggage with one of these services instead. PLAN : Savings & Credit The Fed has put rate increases on pause. Isn't it time to lock in yields? Health & Wealth At-home medical tests are the next big thing, but they can't do everything your doctor can. INVEST : Welcome, Barbarians! The buyout raiders taking over big companies today are good for stocks-especially those in the sectors they're targeting . SPEND : Field Test The newest leaf blowers are worth the cash. MONEY's winner will blow you away.

 

 

MONEY is available in digital format. To access this version go to http://digital.money.com

# # #