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Making Your Money Last

Living on a $1-Million Nest Egg

Vintage Moments

Annual income: $90,000 $30,000 from Social Security $20,000 from a pension $40,000 from personal savings

Expenses: Essentials remain about the same, but you have a lot more room for discretionary spending. With a spare $40,000 a year, you can afford a bigger clothing budget than the $1,400 a year assumed in the survey, and you can be generous with gifts and donations. Consider buying long-term-care insurance.

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Lifestyle: You’ll savor life in your golf-course community and even splurge on an occasional cruise or a trip to Disney World with the grandkids -- as long as you paid cash for your new home. If you still have a mortgage, you might have to trim some of the extras, such as annual theater subscriptions or season tickets for your local team. The rate of return on your investments will determine how long your money will last. You might want to use some savings to buy an annuity.

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