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Thursday, September 21, 2006
A Lifetime vs. Forever
Dueling headlines grace the covers of the October 2006 issues of Money and Kiplinger Personal Finance magazines. Money's cover declares "Retire Rich: How to Make You Money Last a Lifetime" while Kiplinger proclaims "Make Your Money Last FOREVER!"
Which is better: a lifetime or forever? You can have a higher standard of living (i.e., spend more money), if you plan to die broke. But if you underestimate how long you will live, you wind up a pauper, trying to live on the remnants of Social Security, if there is any Social Security left at all. Perhaps the answer is to plan on living more than your expected lifetime but less than forever. I look forward to reading both of these magazines.
