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How long did you plan for?
04-27-2011, 06:42 AM
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#1
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gone traveling
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
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How long did you plan for?
"America's population of centenarians - already the largest in the world - has roughly doubled in the past 20 years to around 72,000 and is projected to at least double again by 2020, perhaps even increase seven-fold, according to the Census Bureau."
My Way News - Number of 100-year-olds is booming in US
It looks like I/DW are going to have to extend our retirement income plan beyond what we currently planned for - at age 100  ....
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04-27-2011, 07:05 AM
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#2
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Full time employment: Posting here.
Join Date: Mar 2009
Posts: 728
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Don't think my body can last till 100. 90 is stretching it, I think. I also think that the older generation (those who are 70 -100 years old now) have a better chance of a long and healthy life as they were less exposed to chemicals and pollution in their younger days. Nowadays, we grow and develop in a fast food world with higher pollution in the food we eat, water we drink and air we breathe. So, even if we have good genes, we may not necessarily live longer.
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04-27-2011, 08:58 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
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My worst case scenario left enough money at age 85 to buy a life annuity. Since I retired at 59, that could be called 26 years, or it could be called "unlimited".
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04-27-2011, 10:50 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 4,366
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I planned to 92 and at that point I'm well below 4% withdrawals. Ready for the new rejuvination process they will develop in 2041.
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04-27-2011, 10:55 AM
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#5
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,300
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I am planning out to age 97 for DW and I, but we hope we both go poof long, long before then...80 would be plenty.
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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04-27-2011, 10:59 AM
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#6
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gone traveling
Join Date: Sep 2003
Location: DFW
Posts: 7,586
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 Quote:
Originally Posted by Animorph
I planned to 92 and at that point I'm well below 4% withdrawals. Ready for the new rejuvination process they will develop in 2041.
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Exactly, don't you all want to have your brains frozen so you can live again in a host body 
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04-27-2011, 11:05 AM
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#7
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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My plan goes to 92-95, but if I live to be 85 I will re-do it at that time. Part of this financial plan overhaul could involve spending about 25% on a fixed lifetime annuity, which should be pretty cheap at age 85.
Several in my family have lived to be over 100 already, so although I don't expect a life that long I do need to plan for it.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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04-27-2011, 11:14 AM
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#8
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Location: Waimanalo, HI
Posts: 1,881
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Since it's basically pensions, my plan goes forever, or until a pension plan default, a catastrophic illness, or hyperinflation.
__________________
Greg (retired in 2010 at age 68, state pension)
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04-27-2011, 11:48 AM
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#9
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Gone but not forgotten
Join Date: Aug 2006
Posts: 6,924
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Have been using 80. Averaging various relatives results in somewhere between 70 and 75. Of course that includes the suicides and the ones who drank themselves to death.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
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04-27-2011, 11:50 AM
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#10
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Full time employment: Posting here.
Join Date: Mar 2008
Posts: 800
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My plan goes to 95, but the funds will last longer depending on the actual return. If the retirement account runs dry, there is still the pension and SS for as long as they last.
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04-27-2011, 12:11 PM
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#11
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Recycles dryer sheets
Join Date: Jul 2006
Location: Massachusetts
Posts: 182
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I have been planning through 101, but i'm not actually expecting to last that long.
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04-27-2011, 12:59 PM
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#12
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Full time employment: Posting here.
Join Date: Nov 2010
Posts: 628
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I am planning for 100. As for freezing my brain, I don't want to freeze all of my brain. That's why I cull the weak cells from the herd. 
(dw asked about the ones that I don't use!!)
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04-27-2011, 01:02 PM
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#13
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Recycles dryer sheets
Join Date: Jun 2007
Posts: 413
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100 and hope to make it. Great-granddad was 114 and many others lived close to or over 100.
__________________
Retired - Class of 2011
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04-27-2011, 01:40 PM
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#14
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Recycles dryer sheets
Join Date: Nov 2010
Location: Houston/Galveston area
Posts: 163
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Plan A is to die with more money than I have now. So I would have to say forever. In a worse case scenario Plan B involves peanut butter sandwiches and riding a bicycle.
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04-27-2011, 02:30 PM
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#15
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
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115 because spouse's grandparents all made it to trip digits.
I'm also lazy. I wanted to do the planning right the first time, and I didn't want to have to do it over again at age 98 only to discover that I'd need a Wal-Mart job to tide me over...
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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04-27-2011, 03:01 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
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I used 50 years for planning purposes. Since there isn't much (if any) difference) between 50 years and forever, this might as well be forever.
__________________
Budgeting is a skill practised by people who are bad at politics.
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04-27-2011, 03:07 PM
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#17
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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I bought longevity insurance from Smith & Wesson.
__________________
Retired early, traveling perpetually.
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04-27-2011, 03:09 PM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by Gone4Good
I bought longevity insurance from Smith & Wesson.
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Now you just have to hope they don't go out of business before you need to pull the trigger on your policy...
__________________
Numbers is hard
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04-27-2011, 03:19 PM
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#19
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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Planning to 100 for myself and 105 for DW. My mother hits 94 next month and my father will be 97 this summer. Both still live in their own house without any assistance.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
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04-27-2011, 03:25 PM
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#20
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Recycles dryer sheets
Join Date: Apr 2005
Posts: 415
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Quote:
Originally Posted by REWahoo
Now you just have to hope they don't go out of business before you need to pull the trigger on your policy...
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nah now that he bought the 'policy' he's self insured
__________________
-----------------------------------------------------
Whatever you do will be insignificant, but it is very important that you do it.
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