Moving Up to Millions: The Life Calculator Guide to Wealth

Introduction ix

The Life Calculator Online Program xiv

Acknowledgments xv

Chapter 1 Meet Your Neighbors 1

Moving Up to Millions 5

You, Too, Can Be a Millionaire! 6

Not All Millionaires Are Equal 8

Do You Really Need a Million Dollars? 13

The Four Rules of Making Millions 16

Chapter 2 Threats to Millionaire Status 23

Why Your Life Cycle Is Not Like Your Parents' 24

It's More Than Just a Number, It's a Life Plan 36

The "Number" 36

Let's Get Started—Becoming Your Own Financial Advisor 38

Chapter 3 Click Your Way to Personal Wealth 41

The Three Es of Financial Planning 42

Power Your Future: The Life Calculator Is Your Personal Financial Advisor 43

How to Start 47

What the Life Calculator Will Show You 48

Identify Your Optimum Future 49

LifeCalculator.Net 49

Ten Guiding Principles 51

Chapter 4 Calculating Your Odds of Disaster and Preparing for Life Changes 55

The Dirty Dozen Adverse Events 55

Adverse Events Planning 56

Potential Windfalls 68

Your Best-Case Scenario—Is It Enough? 69

Optimum Strategies for Getting from Here to There 70

Chapter 5 It's a Blur between Work and Play 73

Say Hello to Phased Careers and

Delayed Retirement 73

Working to 70 and Beyond 75

Targeting Growth Industries 78

What Industry Sectors Show Promising Job Growth? 80

Benefit-Rich Industries 82

Flexible Careers 84

Enhancing Your Skills 87

Chapter 6 Home Is More than the Place You Live 89

Too Much Housing—A Risky Bet? 89

Timing the Market: Cashing Out at the Peak 92

Sometimes It Pays to Be a Renter in a Mobile Society 95

New Kind of Commune: This Time You Want to Belong 97

Assisted Living: What's Likely to Happen? 99

Bringing Your Parents Home 101

Your Home Can Stay in the Family 102

Berlitz Crash Course: Retiring Abroad 105

Tax-Friendly States Beckon 107

Living Where You Want: Connecting to Where You Need to Be 109

Chapter 7 Insurance: Protecting Against Downside Exposure 111

You're on Your Own—Employers AWOL on Healthcare Insurance 111

Long-term Care Insurance—The Best Investment You'll Make 116

Disability Insurance—More Important than You Realize 121

Anti-aging Science and Virtual Medicine 122

Life Insurance You May Outlive—or Sell for Cash 123

Longevity Insurance 126

Estate Planning: Taking Care of Those You Care About 128

Chapter 8 Meet the Forties and the Fifties: Fearless and Fantastic Years 131

Forties Decade: Child Rearing and Career Advancement 131

Forties Profiles 132

Fifties Decade: Maximum Earnings and Retirement Savings 144

Fifties Profiles 145

Chapter 9 Join the Sixties and Seventies: A Successful and Safe Life 155

Sixties Decade: Transitioning into a Second Career 155

Sixties Profiles 157

Seventies Decade: A Time of Enjoyment 162

Seventies Profiles 162

Endnotes 171

Index 183