What does this mean?
- No new security updates.
- No non-security updates. (like no updates... at all!)
- No free or paid assisted support options.
- No online technical content updates.
How does this affect you?
Since it will no longer updated or supported, you will no longer receive security patches. So basically hackers are going to look at your software for vulnerabilities and holes in the system. That is where they will enter in to place malware and viruses.
What should you do now?
You're taking a risk by using insecure software; Microsoft is encouraging everyone to purchase their Office 365 subscription plan, which you'll receive in the latest versions of office.