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Old 04-11-2014, 01:57 PM   #41
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Breaking even in the end would be ideal, but impossible to predict. I really hope not to die with millions though. I'm projecting things out to age 95. However, I do not intentionally plan to leave behind a legacy on purpose like for heirs.

My dad I guess you could say broke even. He died with $6.14. Yes, he left behind a pension that my mom now gets, but in his savings and in his retirement he left $6.14 at the age of 58. He spent all the retirement in the 6 years he had cancer and intended on using it all. So he succeeded in doing that. He even sold his car for cash 2 weeks before he died. He knew he was dying.

He could have left behind $10k so that his own kids didn't have to pay for his funeral though.
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Old 04-11-2014, 02:48 PM   #42
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The general expectation is our portfolio will be worth considerably more when we die than it is currently.
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Old 04-11-2014, 03:45 PM   #43
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If I die with less money that I have now, I'll probably consider it a planning failure. I don't like the idea of getting poorer as I get older. Money may be the only leverage I have left!

And who knows, in 30 or 40 years, doctors might have found a way to give me another good decade or two. I would not want to turn down that opportunity because money is running low.
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Old 04-11-2014, 03:54 PM   #44
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If I die with less money that I have now, I'll probably consider it a planning failure. I don't like the idea of getting poorer as I get older. Money may be the only leverage I have left!
I might feel exactly the same way if I was also a kept man!
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Old 04-11-2014, 04:33 PM   #45
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I've lost relatives. The sadness is not what they did or didn't leave, it is that they are gone.
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Old 04-11-2014, 04:43 PM   #46
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While I profess to be a total return type investor I can see a real living on the dividends tendency developing. My mother worked for a brokerage house for nearly 50 years and had a solid never touch the principal mantra. Now I'm finding myself seeking refuge in this philosophy. However my DW and I would have to sacrifice somewhat to accomplish this plan at this point.
Not the worst problem to have, but I'm struggling a bit with the priorities. As I've done in the past I'll keep on moving ahead. Sooner or later I'll pull the plug and give the retirement thing a whirl.
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Old 04-11-2014, 04:44 PM   #47
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If I die with less money that I have now, I'll probably consider it a planning failure. I don't like the idea of getting poorer as I get older. Money may be the only leverage I have left!

And who knows, in 30 or 40 years, doctors might have found a way to give me another good decade or two. I would not want to turn down that opportunity because money is running low.
Yes, if/when a longer life ever becomes available, I want to have enough money to be the first in line! What a dream come true that would be. BTW I agree; I really can't see myself ending up with a smaller portfolio than what I have now.

Of course, I am saying this from the viewpoint of the present market boom, and who know what may happen? Maybe I will be lucky to be able to afford lunch in my 90's.
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At the 'end' do you plan on spending to zero or leave a legacy?
Old 04-11-2014, 05:08 PM   #48
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At the 'end' do you plan on spending to zero or leave a legacy?

I expect to leave more than what I have right now. No heir. Thinking about setting up a trust fund or something similar. Turning 49 this year, still working so I don't have much time to reflect on this topic yet.
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Old 04-11-2014, 05:50 PM   #49
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I like the idea of continuing to save money in retirement and focusing on decluttering and downsizing, and not buying a lot of stuff. My main hobby these days is implementing sustainable living ideas.

I like leaving a cushion for emergencies and LTC, and what is left can go to the kids and our favorite charities.
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Old 04-12-2014, 07:52 AM   #50
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Not a plan, but would like to leave a legacy for my kids as they are in an economic environment today, which career wise is much less favorable than when I started working.
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Old 04-12-2014, 08:01 AM   #51
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No desire to leave a legacy, but I want to have enough at the end so we can be guided out of this world in dignity. I've seen too many relatives parked in a hallway, slumped over in a wheelchair, smelling like pee.
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Old 04-12-2014, 08:28 AM   #52
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My spreadsheet has me spending my last penny on December 12, 2048.
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Old 04-12-2014, 11:02 AM   #53
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Have always wanted to leave an inheritance for the kids. Recent comments of theirs have me re-thinking the situation a little, and DW furious and saying she's gonna spend every last red cent. Most likely, we'll end up leaving a good bit to them or some charity. I'd like it to be the kids, but as of this moment, they seem to be having attitudinal issues with the necessity of work, and having no sense of urgency to get on with life. If those issues continue, we'll end up buying a condo in Hawaii and a string of half million dollar diesel pushers instead.

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Old 04-13-2014, 12:19 AM   #54
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Have always wanted to leave an inheritance for the kids. Recent comments of theirs have me re-thinking the situation a little, and DW furious and saying she's gonna spend every last red cent
+1. My feelings too. More so actions than comments. If can't help self, it shouldn't be my responsibility.
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Old 04-13-2014, 04:49 AM   #55
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Our financial plan is to make the portfolio last. There'll be something left over for the kids, otherwise that means the plan didn't make it. Not sure how to make it to zero without going under. No plan can guarantee a 100% success rate.

As to the question of how long were going to live, we do what we can, but for the most part "hope for the best" is our plan.
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At the 'end' do you plan on spending to zero or leave a legacy?
Old 04-13-2014, 05:00 AM   #56
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At the 'end' do you plan on spending to zero or leave a legacy?

If you keep annuities under $250k-300k, scatter all your CDs and munis among many different financial institutions to stay under FDIC limits, and live only on this and SS and PGBC or state- insured pensions, then you are approaching 100% success rate, correct?

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No plan can guarantee a 100% success rate.
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Old 04-13-2014, 09:56 AM   #57
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I don't plan to leave anything. But probably will, since one cannot plan this. My planned horizon for spend till zero is most likely longer than we will live.
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Old 04-13-2014, 11:06 AM   #58
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If you keep annuities under $250k-300k, scatter all your CDs and munis among many different financial institutions to stay under FDIC limits, and live only on this and SS and PGBC or state- insured pensions, then you are approaching 100% success rate, correct?
I think that would be good for all except the Zombie attack. I also like the idea of living on way less than our total retirement income, too. Many people here and other retirement forums seem to pull it off - paid for condos or houses and cars in scenic and pleasant low cost of living areas with inexpensive hobbies like painting, hiking, biking, playing a musical instrument, photography, gardening, camping, beach volley ball, kayaking and cooking. Sounds like a nice life to me and it wouldn't cost a fortune to live like that.

Everybody has their own investing style. Personally I would rather count on investments like TIPS and I bonds, Social Security, PBGC pensions, CD ladders, etc. and control my expenses than spend more and worry about the stock market or risk losing half my savings at my age due to poor sequence of returns.
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Old 04-13-2014, 11:20 AM   #59
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If I have more than 5-figures left when I die then I worked too long/saved too much. If I had kids then i'm sure i'd think differently but I don't so I want to spend every penny I worked for.
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Old 04-13-2014, 11:49 AM   #60
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No plan can guarantee a 100% success rate.
If you keep annuities under $250k-300k, scatter all your CDs and munis among many different financial institutions to stay under FDIC limits, and live only on this and SS and PGBC or state- insured pensions, then you are approaching 100% success rate, correct?
Except it isn't really meaningful/useful to assign a 'success rate' to a plan that varies the withdraws to assure success. That is just a self-fulfilling act.

Mathematically, a 10% WR would also assure 100% success, as long as you make that WR a % of remaining portfolio.

Most people would put 'success rate' in the context of supporting an initial spending amount, inflation adjusted. Perhaps with some other stated 'adjustments'.

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