When do you plan to die?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Grt2bOutdoors
Posts: 23335
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: When do you plan to die?

Post by Grt2bOutdoors »

When time is up and not a second before.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Topic Author
ribonucleic
Posts: 145
Joined: Mon Feb 13, 2017 6:07 pm

Re: When do you plan to die?

Post by ribonucleic »

Toons wrote:107 Years Of Age
:mrgreen:
My father's aunt made it that far. From the launching of the Lusitania to Obama's second term, if you can imagine.

In Gore Vidal's memoir Palimpsest, he commented that, other than the pleasure of outliving one's enemies, there is not much to be said in favor of longevity.
User avatar
randomizer
Posts: 1547
Joined: Sun Jul 06, 2014 3:46 pm

Re: When do you plan to die?

Post by randomizer »

I'm thinking 85 is a not-unrealistic estimate. Stress, a heart-attack, or cancer is more likely to kill me before then than the opposite outcome (that I live to 95 or 100). I'm going to keep an eye on my health, and try to adjust my spending prudently to match my likely expected lifespan. ie. if I get to 70 and my health is great, I'll start adjusting for the possibility that making it to 90 is more likely than I thought; if I get to 80 and my health is good enough, I'll start adjust for the possibility that I could make it to 95; if I get to 90 and my health isn't too bad, I'll start tweaking for the possibility that I might make it to 100. I don't expect to be spending much money except on health care at that point anyway.
87.5:12.5, EM tilt — HODL the course!
User avatar
Doom&Gloom
Posts: 3717
Joined: Thu May 08, 2014 3:36 pm

Re: When do you plan to die?

Post by Doom&Gloom »

bta15 wrote:My mother died at age 64, my father at age 70. Their parents all died before age 75. So I presume it will be around 70.
I caution you not to place absolute faith in those numbers. I had a similar situation, but I am now 8 years past the age that both my parents died. I really expected not to make it to that age or far past it. Boy, was I wrong!

But where the problem comes in is that I made some financial planning decisions that were heavily influenced by that belief. I sure wish I had that to do over again as I have since discovered that an aunt and a cousin, whom I had lost track of, both lived past 100. The silver lining is that my beliefs and fears probably influenced me to make some career and early retirement decisions that I would not have made otherwise.

Plan for the future--you might live long enough to see it. Or as Mickey Mantle said, "If I had known I was going to live this long, I would have taken better care of myself."
Dinosaur Dad
Posts: 203
Joined: Wed Feb 22, 2017 6:05 pm
Location: Connecticut

Re: When do you plan to die?

Post by Dinosaur Dad »

ribonucleic wrote:(Attention-grabbing title, eh?)

I apologize for asking a question that has almost certainly come up before. But it wasn't clear to me what search terms would find it.

In planning to make your money last long enough, how do you define "enough"? Your actuarial life expectancy? Family longevity history? A round 100?

check out this website for a nifty calculator. I'm not a physician but it seems legit.

https://www.livingto100.com/
"Take calculated risks - that is quite different from being rash." | General George S. Patton
PStrider
Posts: 51
Joined: Sun Mar 22, 2015 6:31 am

Re: When do you plan to die?

Post by PStrider »

I'll be happy if I'm still considerably healthy at 85.

Willing to go over 100+ if neither my brain/bodily functions or the world has not gone to poop by then.
User avatar
stemikger
Posts: 4950
Joined: Thu Apr 08, 2010 5:02 am

Re: When do you plan to die?

Post by stemikger »

I plan to die after I make love to Tatiana Maslany.
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!
User avatar
mlebuf
Posts: 1915
Joined: Tue Feb 20, 2007 8:27 pm
Location: Paradise Valley, Arizona

Re: When do you plan to die?

Post by mlebuf »

Sometime well before my assets are spent. There's no point in being the richest person in the cemetery, but I don't want to run out of money before my time is up. Now, what time is it? :D
Best wishes, | Michael | | Invest your time actively and your money passively.
User avatar
Sheepdog
Posts: 5677
Joined: Tue Feb 27, 2007 3:05 pm
Location: Indiana, retired 1998 at age 65

Re: When do you plan to die?

Post by Sheepdog »

How could i guess when I would die as I was planning to retire at 65?. I did at one time, but I have already passed that. You see, all of my grandparents died before they were 65. My father died at 61 and my sister 73, but my mother died at 92. Then I had a heart attack at 64. Not much to look at for my longevity at that. But I have reached almost 84. I am a little overweight, but I walked over 8 miles yesterday. My liquid assets have continued to grow since retiring. You tell me how long I will be here.....No, don't tell me because you don't know, nor do I. What will be will be.
You should plan for a long life and enjoying it all the way.
All that truly matters in the end is that you loved.
User avatar
whodidntante
Posts: 9770
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: When do you plan to die?

Post by whodidntante »

I plan to die one day after my portfolio.
User avatar
tennisplyr
Posts: 2809
Joined: Tue Jan 28, 2014 1:53 pm
Location: Sarasota, FL

Re: When do you plan to die?

Post by tennisplyr »

Trader/Investor wrote:Everyone tends to overestimate their longevity. Has anyone been to a nursing home lately. How many males over 95 do you see? My neighborhood is full of aged widows over 85 but zero widowers over that age. I take it a day at a time and try to enjoy life to the fullest. In my case that means hiking almost everyday and exploring off trail as much as possible.
I can tell you my former classmates that are now 6 feet under sure didn't expect to die so soon and thought they would live to 75 and beyond. If you are thin and active the odds are in your favor. If you have a gut you better reevaluate your fantasy of living to 90 or 100. Believe it or not, and you can look it up, genetics only account for 25% of how long we will live.
+1. True genetics play a small role
Those who move forward with a happy spirit will find that things always work out.
exoilman
Posts: 785
Joined: Wed Oct 15, 2008 1:38 pm
Location: New Jersey

Re: When do you plan to die?

Post by exoilman »

Prior to my wife, children and grandchildren. :beer

Sam
User avatar
teen persuasion
Posts: 1440
Joined: Sun Oct 25, 2015 1:43 pm

Re: When do you plan to die?

Post by teen persuasion »

Toons wrote:107 Years Of Age
:mrgreen:
I usually use 105 in calculators.

My maternal aunt lived to 102. My parents are both very healthy now, and dad is 86. They both have siblings in their nineties. I figure it is better to plan for longer rather than shorter.

DH is adopted, so he has no idea of family health history, but mentally he's been influenced by his adoptive mom's poor health. She died at age 56, her brother at age 40, her dad at age 35. DH never saw himself getting to retirement, so he never planned for it. I've pushed him to save for me (SAHM for 20 years), so it's a running joke that his 401k is "my" money. I'm pushing for early retirement for us; he scoffed at first, but it became more of a real possibility to him when he became unhappy in a work situation. Not FI yet, but close enough that he could take a leap of faith and leave w/o a new position lined up.

Having resources gives us opportunities - I'd like to make sure those don't run out too early.
MSU74
Posts: 3
Joined: Sun Mar 12, 2017 10:07 am

Re: When do you plan to die?

Post by MSU74 »

Was diagnosed out of the blue with a hard-to-beat form of cancer 6 years ago, at age 59. 5 year survival rate 15-20%. Was able to continue working for 2 years until it just became too difficult. Rapidly assessed estate plan, investments, etc. and got things in order. Have made it passed the 5 year mark and doctors are pleased but not exuberant. I understand that it could tap me on the shoulder again anytime, and am grateful for the time that I have had since the original diagnosis.

I am assuming that I will die earlier than my very health spouse. Her side of the family boasts many that made it into their 90s. Using the insight and knowledge gained from the many resources on this site (both posters and materials) I am confident my spouse, should she survive me, will be able to manage ok financially and pass on something significant to our 2 adult children. That's what it is about.

If I could pass on any advice, it would be not to put off every meaningful thing that you want to do/experience until retirement. The best laid plans and all that.

Am grateful to be able to tap into the wisdom of the many intelligent and thoughtful folks who contribute to the Boglehead forums.
Tamalak
Posts: 841
Joined: Fri May 06, 2016 2:29 pm

Re: When do you plan to die?

Post by Tamalak »

I don't plan to die at all. I think any retirement plan that necessitates my demise is absurd. So I'll be living on dividends only!
User avatar
TheTimeLord
Posts: 8944
Joined: Fri Jul 26, 2013 2:05 pm

Re: When do you plan to die?

Post by TheTimeLord »

For income projection spreadsheets I have myself dying at 86 and my spouse at 97. But if for some reason I last longer we should be fine with just the continuation of my SS benefits added to the projected income if my spouse was the sole survivor.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
User avatar
TheTimeLord
Posts: 8944
Joined: Fri Jul 26, 2013 2:05 pm

Re: When do you plan to die?

Post by TheTimeLord »

Tamalak wrote:I don't plan to die at all. I think any retirement plan that necessitates my demise is absurd. So I'll be living on dividends only!
I think living solely off dividends only to leave a huge pile of money behind when you die is an incredible lost opportunity. Can't imagine why you would see that as a good thing. Just because your account balances will live forever doesn't mean you will. More importantly, living off dividends in your 50s and 60s when you can still be active and enjoy some many more things than when you are at an advanced age and spend your days napping seem like a way to increase financial resources at the expense of life experiences. Obviously, I am having trouble following your logic on this one.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
Tamalak
Posts: 841
Joined: Fri May 06, 2016 2:29 pm

Re: When do you plan to die?

Post by Tamalak »

TheTimeLord wrote:
Tamalak wrote:I don't plan to die at all. I think any retirement plan that necessitates my demise is absurd. So I'll be living on dividends only!
I think living solely off dividends only to leave a huge pile of money behind when you die is an incredible lost opportunity. Can't imagine why you would see that as a good thing. Just because your account balances will live forever doesn't mean you will. More importantly, living off dividends in your 50s and 60s when you can still be active and enjoy some many more things than when you are at an advanced age and spend your days napping seem like a way to increase financial resources at the expense of life experiences. Obviously, I am having trouble following your logic on this one.
I am young enough that there is a significant hope that we will cure the disease of age before I die of it. I plan on this happening, not because it is the most likely scenario, but because any other scenario ends in my death, which is a horrible thing regardless of the quality of wine I choose to have by my deathbedside.
User avatar
David Jay
Posts: 10129
Joined: Mon Mar 30, 2015 5:54 am
Location: Michigan

Re: When do you plan to die?

Post by David Jay »

ribonucleic wrote:
The Wizard wrote:This seems like a rather morbid topic...
I turn 50 in a few months. I feel entitled. :wink:
...just a pup
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius
Jimmie
Posts: 431
Joined: Tue Mar 07, 2017 7:05 pm

Re: When do you plan to die?

Post by Jimmie »

My paternal grandfather and my father lived until 87. My maternal grandmother and mother lived until 80. Consequently, I am happy to be male and feel bad for my sister...

Since most everyone else in my family smoked heavily and I never have, I expect to live to between 90 and 95. There are instances of longevity on both sides of my family - people living well past 90, so my expectations are realistic.

From a financial standpoint and after running the numbers, I will probably dip into principal later in life, around 80 or 85. Running out of money will probably not happen based on how the numbers crunch.
hulburt1
Posts: 438
Joined: Tue Jul 15, 2014 9:17 pm

Re: When do you plan to die?

Post by hulburt1 »

81 THATS MY BRAKE EVEN FOR SS.
remomnyc
Posts: 855
Joined: Mon Jan 04, 2016 4:27 pm

Re: When do you plan to die?

Post by remomnyc »

I use 95 in all my projections, but I hope to die before I am demented and incontinent and can no longer walk, see, or enjoy food. Living long without health is no life.

Current plan is to purchase QLACs at 65 that start paying at 85 so I can start distributing cash instead of hoarding it for longevity.
User avatar
TheTimeLord
Posts: 8944
Joined: Fri Jul 26, 2013 2:05 pm

Re: When do you plan to die?

Post by TheTimeLord »

Tamalak wrote:
TheTimeLord wrote:
Tamalak wrote:I don't plan to die at all. I think any retirement plan that necessitates my demise is absurd. So I'll be living on dividends only!
I think living solely off dividends only to leave a huge pile of money behind when you die is an incredible lost opportunity. Can't imagine why you would see that as a good thing. Just because your account balances will live forever doesn't mean you will. More importantly, living off dividends in your 50s and 60s when you can still be active and enjoy some many more things than when you are at an advanced age and spend your days napping seem like a way to increase financial resources at the expense of life experiences. Obviously, I am having trouble following your logic on this one.
I am young enough that there is a significant hope that we will cure the disease of age before I die of it. I plan on this happening, not because it is the most likely scenario, but because any other scenario ends in my death, which is a horrible thing regardless of the quality of wine I choose to have by my deathbedside.
Curing disease does not cure death. Can't imagine how horrible this world would become inhabited by immortal endlessly consuming its resources and seeking power over others. Death is essentially a non-event, the only thing that matters is what happens while you are alive (and what your believe happens after death in respect to your religious beliefs if you have any). You will not be lying in a grave thinking "Oh my this is horrible I am dead". So you can decide life is meaningless or life is to be enjoyed and celebrated but death is no different than the day before you were conceived.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
Tamalak
Posts: 841
Joined: Fri May 06, 2016 2:29 pm

Re: When do you plan to die?

Post by Tamalak »

Curing disease does not cure death.
Right, therefore, I'm interested in curing the disease of aging BEFORE it kills me 8-)
Can't imagine how horrible this world would become inhabited by immortal endlessly consuming its resources and seeking power over others.
About as horrible as it is inhabited by mortals endlessly consuming its resources and seeking power over others, expect we won't wither and die 100% of the time on top of that.
You will not be lying in a grave thinking "Oh my this is horrible I am dead". So you can decide life is meaningless or life is to be enjoyed and celebrated but death is no different than the day before you were conceived.
Correct, I have no issue with being dead, I was dead for billions of years before I was born. I do have an issue with not ever being alive again. Being alive is good. It is a positive for me in so many ways! I want to retain what is good.
rec7
Posts: 2369
Joined: Tue Oct 28, 2008 7:22 pm

Re: When do you plan to die?

Post by rec7 »

Billionaire wrote:
rec7 wrote:No male in my family has lived past 77 so I don't have to plan as much as others.
My condolences to you and your family.
I look at it as normal. The Bible says the live of a man is threescore and ten which is 70. The Bible says a strong man lives four score which is 80. The Bible says you will have difficulties once you go past 80. I think a lot of people go in their 70's and 80's
U.S. expectancy in 2011 was 78.7 years, which is slightly below the OECD average of 80.1. For U.S. men, the average life expectancy is 76, while it’s 81 for U.S. women.
Last edited by rec7 on Thu Mar 30, 2017 12:22 pm, edited 1 time in total.
Disclaimer: You might lose money doing anything I say. Although that was not my intent. | Favorite song: Sometimes He Whispers Jay Parrack
User avatar
JDCarpenter
Posts: 1567
Joined: Tue Sep 09, 2014 2:42 pm

Re: When do you plan to die?

Post by JDCarpenter »

I'm irrelevant, even though only one year older than DW.

She checks off: healthy; lifelong exerciser; never smoked; less than 10 pound weight gain from 25 to 55 (with 3 kids); M.D.; grandparents and their siblings hit 90s if they avoided childbirth/accident deaths; her parents very active/healthy in late 80s.... Thus, 105.

(Me, dunno, but taking Social at 70 if it is there--just in case.)

E.T.A.: Nice username, OP!
Edit Signature
new2bogle
Posts: 1640
Joined: Fri Sep 11, 2009 2:05 pm

Re: When do you plan to die?

Post by new2bogle »

Hopefully not more than 75
jpdion
Posts: 128
Joined: Thu Feb 13, 2014 12:52 pm

Re: When do you plan to die?

Post by jpdion »

In all my spreadsheets and model runs my assets outlast me and my wife by a good margin. Picked 95 as a goal - not a target. We all want to exceed our goals, right? :D
TravelforFun
Posts: 2294
Joined: Tue Dec 04, 2012 11:05 pm

Re: When do you plan to die?

Post by TravelforFun »

ribonucleic wrote:(Attention-grabbing title, eh?)

I apologize for asking a question that has almost certainly come up before. But it wasn't clear to me what search terms would find it.

In planning to make your money last long enough, how do you define "enough"? Your actuarial life expectancy? Family longevity history? A round 100?
I didn't read all the responses but if you want your money to last as long as you live, put all your money into an annuity. You're guaranteed not to run out of money. If you want to leave something to your heirs, put that amount aside and the rest into the annuity. COLA and survivorship can be taken care of with the right kind of annuity.
NotWhoYouThink
Posts: 3332
Joined: Fri Dec 26, 2014 4:19 pm

Re: When do you plan to die?

Post by NotWhoYouThink »


I look at it as normal. The Bible says the live of a man is threescore and ten which is 70. The Bible says a strong man lives four score which is 80. The Bible says you will have difficulties once you go past 80. I think a lot of people go in their 70's and 80's
U.S. expectancy in 2011 was 78.7 years, which is slightly below the OECD average of 80.1. For U.S. men, the average life expectancy is 76, while it’s 81 for U.S. women.
Those life expectancies are from birth, and take into account the number of people who die from accidents, murder, and other causes that tend to afflict younger people. Your life expectancy today given that you have reached, say, 50 or 60, is likely much higher.

I don't want or expect to live forever, but absolutely want to avoid being a financial drain on my kids. So I'm planning for about 95. If I'm still pretty healthy at 80, I'll look at pensions and SS and decide whether that's enough or I need to annuitize a bit more.
User avatar
Youngblood
Posts: 589
Joined: Fri Jan 04, 2008 7:18 am

Re: When do you plan to die?

Post by Youngblood »

Trader/Investor wrote:Everyone tends to overestimate their longevity. Has anyone been to a nursing home lately. How many males over 95 do you see? My neighborhood is full of aged widows over 85 but zero widowers over that age. I take it a day at a time and try to enjoy life to the fullest. In my case that means hiking almost everyday and exploring off trail as much as possible.
I can tell you my former classmates that are now 6 feet under sure didn't expect to die so soon and thought they would live to 75 and beyond. If you are thin and active the odds are in your favor. If you have a gut you better reevaluate your fantasy of living to 90 or 100. Believe it or not, and you can look it up, genetics only account for 25% of how long we will live.
My experience and resultant notions are the same as yours. In addition, almost all of the 80 somethings I have known living as neighbors in a condo community of 59 units were disabled, constantly going to doctors, hospital admissions, and looked pretty miserable. There are certainly outliers but, many more who are physically and/or mentally disabled. Planning on living into my nineties under those circumstances? No.

Meanwhile, why worry.
"I made my money by selling too soon." | Bernard M. Baruch
User avatar
oldzey
Posts: 1595
Joined: Sun Apr 13, 2014 8:38 pm
Location: Land of Lincoln

Re: When do you plan to die?

Post by oldzey »

Not for a while...

Image
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman
MikeMak27
Posts: 135
Joined: Fri Jul 03, 2015 4:37 am

Re: When do you plan to die?

Post by MikeMak27 »

To be honest, I do not plan on dying. With advancements in science, biogenics, saving your brain & memory to the cloud, along with freezing your body, if I come close to death, I'll invest in these technologies so that when they find my cure, I'll be brought back to life.

If for some reason I'm wrong, livingto100.com says I will live until I'm 97 with my current lifestyle at age 30. My withdrawal rate in retirement will be low enough that my investments should help pay for a comfortable living and provide for portfolio growth.
Mak 3 fund portfolio: 50% US small cap value & US Small cap (IJS, IJR), 40% Emerging Markets (IEMG, VWO, FPADX), 10% US REIT (VNQ)
dave_k
Posts: 406
Joined: Sat Dec 26, 2015 8:25 pm

Re: When do you plan to die?

Post by dave_k »

I use 100 for planning purposes. When running simulations I'm OK with a few percent of failures after 90.
User avatar
Lieutenant.Columbo
Posts: 1178
Joined: Sat Sep 05, 2015 9:20 pm
Location: Cicely AK

Re: When do you plan to die?

Post by Lieutenant.Columbo »

avalpert wrote:...If the goal is maximizing lifetime utility - then hitting escape velocity would suggest your forewent (don't use that everyday) too much in your earlier years...
avalpert,
  • if $X is minimum savings one should have on retirement day
    if Y = age on retirement day
    if one will collect $Z/year from SS at age Y+W=70
    if one needs $M/year including taxes in retirement
how do YOU suggest determining $X for a given "Y", as a function of W, $M and $Z?
Thanks.
Lt. Columbo: Well, what do you know. Here I am talking with some of the smartest people in the world, and I didn't even notice!
avalpert
Posts: 6313
Joined: Sat Mar 22, 2008 4:58 pm

Re: When do you plan to die?

Post by avalpert »

Lieutenant.Columbo wrote:
avalpert wrote:...If the goal is maximizing lifetime utility - then hitting escape velocity would suggest your forewent (don't use that everyday) too much in your earlier years...
avalpert,
  • if $X is minimum savings one should have on retirement day
    if Y = age on retirement day
    if one will collect $Z/year from SS at age Y+W=70
    if one needs $M/year including taxes in retirement
how do YOU suggest determining $X for a given "Y", as a function of W, $M and $Z?
Thanks.
Well, I think using one of the various monte-carlo based planners is as a good an approach as any. Determine what failure rate you are acceptable with for different terminal ages (that should increase as your likelihood of reaching the terminal age increases) - personally I'm targeting 100% to 80, 90% success to age 90, 85% to age 95 and 80% to 100.

Maybe coincidentally, for me this leads to a target withdrawal rate of 4% adjusted for inflation. Of course, actual withdrawals will be adaptable to my life situation as it emerges but as far as minimum savings go, it is good enough.
CJC000
Posts: 79
Joined: Sat Jul 09, 2016 11:41 am

Re: When do you plan to die?

Post by CJC000 »

When you apply for life insurance, some of the first questions they ask usually deal with family history. It must be very important to their underwriters.
My father died at 48 yrs, older brother at 52. I'm 63 so I'm thankful to just take it one day at a time...
invst65
Posts: 644
Joined: Thu Nov 27, 2014 11:04 am

Re: When do you plan to die?

Post by invst65 »

Microsoft Money used to come with a longevity calculator as part of their retirement planner. I started using it when I was 50 and my wife was 52. After answering all the questions for my wife, it said her life expectancy was 53.

Turned out to be exactly right, and that was even before her lung cancer diagnosis.

As for me, my mother is still alive at age 97 and my Dad died at 93 but I'm not planning on living that long. Don't think I even want to.
User avatar
HueyLD
Posts: 8111
Joined: Mon Jan 14, 2008 10:30 am

Re: When do you plan to die?

Post by HueyLD »

I plan to die after I spend the last million dollars of borrowed money.
User avatar
Lieutenant.Columbo
Posts: 1178
Joined: Sat Sep 05, 2015 9:20 pm
Location: Cicely AK

Re: When do you plan to die?

Post by Lieutenant.Columbo »

avalpert wrote:...various monte-carlo based planners...
which MC did you use and like?
avalpert wrote:...for me this leads to a target withdrawal rate of 4% adjusted for inflation...
how is 4% withdrawal rate compatible with "adjusted for inflation"? isn't it one or the other?
thanks!
Lt. Columbo: Well, what do you know. Here I am talking with some of the smartest people in the world, and I didn't even notice!
User avatar
tc101
Posts: 3416
Joined: Tue Feb 20, 2007 3:18 pm
Location: Atlanta - Retired in 2004 at age 54

Re: When do you plan to die?

Post by tc101 »

I am now 67, happy and in good health. Ten to twelve years ago I spent a lot of time in nursing homes watching my parents and the other people there die slowly and miserably. I decided to make my own decision about when it was time to go, rather than just letting nature take it's course. My plan was to kill myself at about age 85.

Recently I started taking piano lessons. My teacher is 90. She is very happy. I like her a lot. Now my plan is to kill myself when I am 91.

Who knows. Plans could change again.
. | The most important thing you should know about me is that I am not an expert.
westcoast
Posts: 196
Joined: Tue Mar 13, 2012 6:50 pm

Re: When do you plan to die?

Post by westcoast »

I'm playing golf tomorrow if I wake up. Planned retirement for DW and I till 90 for her as she is a few years younger.
avalpert
Posts: 6313
Joined: Sat Mar 22, 2008 4:58 pm

Re: When do you plan to die?

Post by avalpert »

Lieutenant.Columbo wrote:
avalpert wrote:...various monte-carlo based planners...
which MC did you use and like?
I find FIRECalc to be perfectly adequate at this stage in planning. I've also run scenarios on professional software including financeware and naviplan and haven't found it to be meaningful improvement for my needs.
avalpert wrote:...for me this leads to a target withdrawal rate of 4% adjusted for inflation...
how is 4% withdrawal rate compatible with "adjusted for inflation"? isn't it one or the other?
thanks!
It starts at 4% of the portfolio and adjusts that dollar number for inflation - if your withdrawal rate is any constant % you will never run out of money but your spending power will be very variable.
Church Lady
Posts: 666
Joined: Sat Jun 28, 2014 7:49 pm

Re: When do you plan to die?

Post by Church Lady »

For planning purposes, I've always used 100. It is a nice, round number, and quite a few planners only go to 100 (or 99, which I figure is close enough).

Not that I expect to live to age 100.
He that loveth silver shall not be satisfied with silver; nor he that loveth abundance with increase: this is also vanity.
itstoomuch
Posts: 5343
Joined: Mon Dec 15, 2014 12:17 pm
Location: midValley OR

Re: When do you plan to die?

Post by itstoomuch »

Don't know. My father is 97 and going on a trip to China for 2 months. Mom passed at 97. Many relatives are in their 80-90+.
What I had thought would be a reasonable life expectancy, I am now discounting for health issues.
+15 more years could be optiminstic. ~10 would be realisitic. I had planned to +95, which is 20 years longer than the realistic scenario.
yMMV
Rev012718; 4 Incm stream buckets: SS+pension; dfr'd GLWB VA & FI anntys, by time & $$ laddered; Discretionary; Rentals. LTCi. Own, not asset. Tax TBT%. Early SS. FundRatio (FR) >1.1 67/70yo
Karamatsu
Posts: 1351
Joined: Mon Oct 27, 2008 2:42 am

Re: When do you plan to die?

Post by Karamatsu »

For the important things in life, I usually plan as if I'll die today. For financial stuff I usually plan for 100 since it's a round number and seems several sigmas away from likely. But of course expense estimates as a person gets older are nothing but a shot in the dark. Even setting aside political, environmental, social, and cultural change, it's nearly impossible to estimate medical needs and therefore medical costs. Yesterday one of my neighbors fell off a ladder and will likely be paralyzed for the rest of his life. Everything can change in seconds.
madbrain
Posts: 5583
Joined: Thu Jun 09, 2011 5:06 pm
Location: San Jose, California

Re: When do you plan to die?

Post by madbrain »

Jack FFR1846 wrote:March 11, 2042.

It's in my spreadsheet.
196 years is a good age ! I don't plan for that long.
why3not
Posts: 187
Joined: Wed Aug 10, 2016 12:07 pm

Re: When do you plan to die?

Post by why3not »

dave_k wrote:I use 100 for planning purposes. When running simulations I'm OK with a few percent of failures after 90.
+1
Topic Author
ribonucleic
Posts: 145
Joined: Mon Feb 13, 2017 6:07 pm

Re: When do you plan to die?

Post by ribonucleic »

tc101 wrote:Ten to twelve years ago I spent a lot of time in nursing homes watching my parents and the other people there die slowly and miserably. I decided to make my own decision about when it was time to go, rather than just letting nature take it's course.
That's always been my thinking.

My wife is 10 years older than me. And some health demerits are likely to cost her at least some of the longer life expectancy she could expect as a woman. So I think it likelier than not that I'll outlive her.

If I'm 70 when that happens, it's hard for me to imagine - at least now, 20 years in advance - how much appetite for life I would have left, regardless of my own health.

Our only children have four legs. Of course I'd keep taking care of them. But when they were gone, I think it would be time to let someone else take my seat on the bus.
User avatar
White Coat Investor
Posts: 15146
Joined: Fri Mar 02, 2007 9:11 pm
Location: Greatest Snow On Earth

Re: When do you plan to die?

Post by White Coat Investor »

There's some good data out there that shows people who annuitize live longer on average. Something to think about. Annuitize enough and maybe you live to 120.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
Post Reply