Do you have enough ?

[Live And Learn]

According to a 2010 study by a German demographic research institute, the countries with the highest number of "supercentenarians" -- those aged 110 and over --are the United States, Japan, the United Kingdom, France and Italy.
The study, prompted by rising numbers of centenarians, found more than 600 supercentenarians internationally.

World's oldest person dies, aged 116, just days after rival passes - CNN.com

The title subject retired at age 65 and had a 51 year retirement, dying at 116 years old !

 

[rodi]

that's why we don't include the home equity in our retirement planning. If I live past 95 (current planning in firecalc) we can always sell the house to pay for the nursing home.
Or go live with the kids.

 

[M Paquette]

Over 100? *SNORT*

I'm just hoping to become the first male in many generations to make it to 70. 100 is so far out on the distribution tail for me, that I don't bother considering it.

I'm not entirely sure that targeting 100 for longevity is reasonable for the average retiree.

 

[HillCountry]

Hitting 100 yo? You have much better chance to be hit by a thunder, or won a lotto.

 

[eytonxav]

So I guess next we will hear, 100 is the new 70.

 

[bld999]

Wait till three-D printed replacement organs are available and get really cheap. You can afford them, but can you?

It will just move the ER point forward.

 

[ERD50]

Hitting 100 yo? You have much better chance to be hit by a thunder, or won a lotto.

I gotta run out and buy some lottery tickets right now!!!!



On second thought, a nasty storm is coming through and I hear thunder - could be a wash!



https://personal.vanguard.com/us/insights/retirement/plan-for-a-long-retirement-tool

Anyhow, a 65 YO couple has a 5% chance of one living to 100. And a 4% and 1% for each individually.

That's a loooooooong, loooooong way from lotto/lightening odds.

-ERD50

 

[Live And Learn]

Good answers !

There is a 5% chance I am screwed financially at 85, 10% at 91. I just hope that I am senile enough at that point to not give a darn if the menu is made up of dog food.

I couldn't imagine going to 116. My grandpa was 94 and that felt "too old".

 

[Midpack]

My parents are 91, and they'd be the first to day it's not much fun. I hope I don't last that long...YMMV

 

[Beryl]

My parents died "young" (78 & 86) but their parents & grandparents lived to 100 and beyond. My 97 year old uncle just lost his second wife (only 88 ) and he is looking to remarry. He is spry and just passed his driver's test. I hope to live well past 100.

 

[ERhoosier]

Over 100? *SNORT*

I'm just hoping to become the first male in many generations to make it to 70. 100 is so far out on the distribution tail for me, that I don't bother considering it......

My genetics are almost as bad. I'm hoping to be the 1st guy to make it to 75.

 

[pb4uski]

I'm not sure what to think. Dad passed at 75 but Mom is 82 and still going strong despite smoking like a chimney and regular happy hours. But Gram lived to 98 and great-aunt to 94.

DW's mom died in her 80s.

My plan is for 100 but it seems like a long shot.

 

[RunningBum]

My genetics are almost as bad. I'm hoping to be the 1st guy to make it to 75.

So are my mom's. Her parents died in their 50s and early 60s. I don't think her grandparents lived too long either. But she's 76 and the doctor says she could easily make it to 90. Genetics are only part of the story. Healthier living, and advances in medicine for whatever did in your ancestors can change a lot.

 

[obgyn65]

The longevity issue is the reason why annuities are an integral part of my FIRE planning. My plan includes a combo of deferred annuities bought in my 40s, and SPIAs after 70.

 

[Ed_The_Gypsy]

The longevity issue is the reason why annuities are an integral part of my FIRE planning. My plan includes a combo of deferred annuities bought in my 40s, and SPIAs after 70.

In your situation (as it is today), annuities make some sense. With interest rates so low, I would wait as long as possible to buy them. Consider also that you might acquire a family in future. A young person should be cautious about committing everything to one plan all at once.