Yet another humble request for fellow members to share their thoughts and experiences.
When using Firecalc, other on-line estimators or my own spreadsheet - I plug in different ages for 'end game' to see if I am going to fall short or have anything left to pass on as a legacy.
And - I've read about one approach to expenses in that they decrease with age (aka the Bernicke option in Firecalc).
But, I'm watching my own parents get older and at some point neither will be able to drive and will not be independent - maybe even needing to move to a 'retirement community'.
Looking at some rough estimates for this - it is darn expensive - which would increase annual expenses from the 'dip' many describe.
So - how have you estimated how long your savings will last? And do you account for any need for 'retirement community' or even 'assisted living' expenses?
When using Firecalc, other on-line estimators or my own spreadsheet - I plug in different ages for 'end game' to see if I am going to fall short or have anything left to pass on as a legacy.
And - I've read about one approach to expenses in that they decrease with age (aka the Bernicke option in Firecalc).
But, I'm watching my own parents get older and at some point neither will be able to drive and will not be independent - maybe even needing to move to a 'retirement community'.
Looking at some rough estimates for this - it is darn expensive - which would increase annual expenses from the 'dip' many describe.
So - how have you estimated how long your savings will last? And do you account for any need for 'retirement community' or even 'assisted living' expenses?