CHAPTER 3Making Your Money Last

A penny saved is a penny earned.

—Benjamin Franklin and Grandma Kitty

Many of us grew up with parents or grandparents who lived through the Great Depression. Cathy’s Grandma Kitty was one of them. She could boil a chicken with homemade noodles and serve 20 for Sunday dinner. She tore paper napkins in half to save money. And she saved every day until she died at age 86. The memory of the Depression was talked about much in the last recession—how people learned to make do with very little. Yet they found ways to be happy, to follow their passions, and to live well into older age. We hope to never face what our parents and grandparents did, but we still are concerned about money. What if we live to 100? Do we have ...

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