For the week ending March 23, 2007
Infrastructure: The new gold
World chocolate shortage ahead?
A big, ugly tax surprise is looming
How to survive your hospital bills

Today I'm going to pass along one of my favorite "undiscovered" features of MSN Money. It's not easy to find, so many of you may not even know it exists.

It's called the Retirement Income Calculator, and I've never seen one like it anywhere else. It allows you to take any lump sum -- your nest egg, an inheritance, your lottery winnings -- and calculate how much income it would yield over any length of time you specify. First, it calculates your gross income, and then it tells you how much spendable income you'll have after subtracting taxes and the amount you'll need to reinvest to keep up with inflation.

So, for example, if you win a million dollars on "Deal or No Deal," the calculator lets you specify your rate of return (e.g. 8%) and an assumed rate of inflation (3%). You can also tell it whether you want to preserve that capital, spend it down or grow it. (I chose preserve capital.) Your gross income in this example is going to be $80,000, but your actual spendable income is only $45,541 after subtracting about $16,000 for taxes and $19,000 that is reinvested to grow your income to compensate for inflation.

You can also put in some assumptions about how much income you'll have from other sources, such as a part-time job. Personally, I have no plans to work unless somebody wants to hire a hammock tester.

It's a fun little tool to play around with, but it can also help with the very serious and often vexing question of how much money you can take from your nest egg each year in retirement.
So, enjoy, and as always, I welcome your thoughts.

Drop me an e-mail, and I'll report back on your responses.

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Richard Jenkins, Editor in Chief

New this week on MSN Money:

SEARCH FOR BAD COMPANIES: Writing about the huge reaction to Scott Burns' column on Home Depot's customer service woes last week, we invited readers to e-mail us with other consumer problems. Then we presented one -- the e-mail link was miscoded and didn't work. So we invite you again to click here to send an e-mail and tell us which companies you've battled -- or post your comments at a new message board on the topic. Next week, watch for a follow-up column from Burns.

BUBBLE TROUBLE: The market's little mess of the past few weeks is over, right? For now, perhaps, but Jim Jubak says the deepest debt woes will take years to resolve -- either bit by bit, or in one eventual washout. Read "Why the debt bubble hasn't burst -- yet."

SUBPRIME SCARE: Yes, it's been bad out there, but now's not the time to run scared. Michael Brush this week offered advice on how to stay invested and steer clear of the lending mess. Read "Be smart about the subprime scare."

MORTGAGE CRUNCH: Here's one place it really hurts, though. Marginal homebuyers are going to have a tougher time winning a loan. Read "Getting a home loan just got tougher."

DISCOUNT COFFEE: Starbucks has taken a hit in the news of late, and its stock price is suddenly a comparative bargain, Jon Markman writes this week. That, he says, makes it a "grande buying opportunity."

SOCIAL INSECURITY: And here's a sobering thought -- one in five Americans retires with just that national retirement check. Liz Pulliam Weston this week asks "Could you live on Social Security?"

Next week on MSN Money:

40-YEAR ACHES: On Monday, Liz Pulliam Weston looks into what most Americans need to do in their 40s to ensure long-term financial security. See where you're at and how your progress stacks up. (You can always find her latest columns on her MSN Money home page, where you can sign up to get an e-mail whenever she publishes a new column.)

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