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View Poll Results: For financial planning purposes, what age of death? Are you M or F?
M, under 70 2 0.72%
M, 70-79 8 2.87%
M, 80-89 53 19.00%
M, 90-99 107 38.35%
M, over 100 22 7.89%
F, under 70 0 0%
F, 70-79 2 0.72%
F, 80-89 15 5.38%
F, 90-99 49 17.56%
F, over 100 13 4.66%
Huh? I wanted to vote but honestly, none of these choices are right for me. 8 2.87%
Voters: 279. You may not vote on this poll

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Old 08-06-2016, 05:40 PM   #61
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I don't think people will choose to have new organs when they are failing mentally, etc and the insurance could decide not to pay for it. I don't know many people that want to live without a mind.
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Old 08-06-2016, 06:07 PM   #62
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Our plan is to keep LBOMs and saving a bit so there is no actual end date in the plan. I watch the science shows on lab grown organ replacement and feel that it is possible that might be the actual future of medicine. I'd rather spend a bit less now than have to worry about running out of money at age 90 or older.
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Old 08-07-2016, 07:54 AM   #63
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Originally Posted by NW-Bound View Post
Why do I need to plan to die at a certain age?

I thought that if I spent way below what FIRECalc says I can, I will not run out of money. I do not plan to die broke, and in fact want to leave my children with some money. Actually my wife will be the one doing that, as she will outlast.
Yes, agree. Since I (her) plan to leave a legacy, Its not really that important when I think I might die. As long as you don't overspend, there should be lots left. Having said that, given my current health, I would hope to make it well into my 90's.
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Old 08-07-2016, 08:12 AM   #64
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I voted Huh? Since I used ages for both me and DW... 2 people of different sex. I understand why you were interested in what sex based on life expectancy.

In my mid 40's I used 94 as the end of planning for both of us. I expected I would not really make it that long.

A few years back (early 50's) I moved it to 104 and for the fun of it I used 115 (the age that RMD deplete you IRAs).

I usually used the same age for both of use. Sometimes put DW 3 or 4 years older.

If we follow these plans, the kids will be happy
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Old 08-07-2016, 08:13 AM   #65
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I don't think people will choose to have new organs when they are failing mentally, etc and the insurance could decide not to pay for it. I don't know many people that want to live without a mind.
A well-functioning empty shell is a nightmare, both for the patient and family. I do hope we can fix that in parallel, but less optimistic there.

With regards to coverage an example: A kidney failure costs $89k per year in the US (dialysis), and transplants still cost $25k per year to avoid rejection.

https://pharm.ucsf.edu/kidney/need/statistics

So get the cost of a regrown kidney down to $100k or so, and why wouldn't insurance cover this procedure?

It's not a small market either, $34 billion or 7% of the medicare budget.
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Old 08-07-2016, 08:29 AM   #66
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I voted for 90 to 99 since I've also used 100 for planning purposes. Twenty years ago, I felt that "one of us" could live that long. As the years pass, I'm realizing I have way over estimated. Thinking about this, my adjusted targets should be more in the mid 80's range, at best.

No need to consider adjusting our WR since we are already doing everything we want now.
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Old 08-07-2016, 10:13 AM   #67
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In the VPW tool I put in age 110 as the depletion of portfolio age. That is high enough so that it is unlikely we will too severely draw down our money as we grow ancient.

Should we have a normal sequence of returns over the next 30 years, I might have to live longer!
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Old 08-07-2016, 10:16 AM   #68
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I voted Male, 80-89. I have always used 84 for life expectancy based on questionnaires. I did die already on 7/13/2016 from cardiac arrest but wasn't dead for long. No brain damage, the cardiac issues are fixed so I'll stick with 84.
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Old 08-07-2016, 11:13 AM   #69
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When I was planning for retirement in 2002, my median life expectancy was 91. There was a 90% chance that I would be dead by 99 so I used 99. With all the discussion about declining spending after 85, I think we are conservative in the plan so DW should be fine.
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Old 08-07-2016, 01:54 PM   #70
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I haven't run FireCalc or any other rigorous planning tool for several years now. When I retired at 58, I assumed a life span of 30 more years. Each year, I add on 30 years - so I guess that's about 99 now. Firecalc for 30 years (at 58) said WDR of upper 3% range was fine. So I figure that's still true if I live another 30 years (though I realize some figures have changed by now.) Just to be safe, If I keep it at 3%, I should be fine. Thinking 30 years down the road is starting to seem a bit ridiculous, but I have less control over how long I live than I do how much I withdraw and spend. Just want to be reasonably certain I don't run out of money. YMMV
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Old 08-07-2016, 03:11 PM   #71
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I go with 80. My maternal grandfather passed in his 50's and paternal grandfather died at 76. Dad will be very lucky to make it to 75. Based on that I think 80 is very optimistic. If I live past 80 then i'll live my final days in a government subsidized nursing home. If I die with more than mid-five figures then I worked too long.
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Old 08-07-2016, 03:46 PM   #72
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I'm 50 (almost 51), DW is 48. I'm assuming joint life expectancy of 95, meaning through 2063 in our case.

We have a rather unremarkable family history of longevity. Going back four generations my oldest ancestor lived to 91 (one of my great grandmothers) and DW's oldest ancestor lived to 90 (her father's mother). I can't find any men in that time frame on my side of the tree who lived past 81. Of course, that was generations ago, some of those deaths were caused by what are now preventable and/or treatable conditions, and includes cancer deaths for smokers, so maybe it will be different moving forward. I did have one great great grandfather who made it almost 96 years, though (1832-1928). Not sure how much of his genes made it through 5 generations to me.
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Old 08-07-2016, 03:50 PM   #73
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Totoro: right now we can't grow organs so they are not going to give one to someone really old. Plus transplant surgery is very expensive. My friend's 19 yo daughter had to go to Indiana for a liver because on the West coast the wait was 7 years and she would not live that long. Before being allowed on the list she had to prove she had insurance and the means to pay what it did not and to pay for anti-rejection drugs afterwards. Unfortunately she only lived 24 hours after getting it.
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Old 08-07-2016, 05:43 PM   #74
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I guess I used 90s for DW and I but really I wanted to get to a FIRECalc result that was 100% and the end numbers just were bigger than the initial nest egg.
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Old 08-07-2016, 06:44 PM   #75
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Old 08-07-2016, 09:54 PM   #76
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I used 95 for me, but I really don't think I'll go past my 80's. My wife alway assumed she'd die young (her mom died in her late 50's), but she's already passed them. Planning wise, while I only plan to 95, our funds can last much longer. I just don't look beyond that age.
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Old 08-07-2016, 10:08 PM   #77
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I voted Male, 80-89. I have always used 84 for life expectancy based on questionnaires. I did die already on 7/13/2016 from cardiac arrest but wasn't dead for long. No brain damage, the cardiac issues are fixed so I'll stick with 84.
Glad to hear that everything went so well and that you are back to using 84 and posting here!
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Old 08-07-2016, 10:37 PM   #78
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I use age 95 as the limit of my planning. I'm 76 now, happily retired since I was 53. I treat my retirement assets as being in trust for the next generation, though my ownership is sole and unencumbered. I could spend it all. For the first 22 years of my retirement, I managed the retirement assets with the aim of preserving their purchasing power, not growing it and no letting it decline. I overdid my caution. The assets grew significantly. Then, last year, inherited property I thought would not sell in my life time sold for a significant sum. (What did I do with the money? First, I paid federal and state income taxes on it. Then, I bought a house to be a second family home and put the rest in index funds and cash.) I manage the money now so that by age 95 I will have reduced purchasing power of the retirement stash to what it was prior to the land sale and the Bernanke bubble. I find it difficult to spend or give away the annual budget that this plan computes for me. I'm used to spending much less. Retirement is sweet but for the deaths of people I loved and my own imperfect health.
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Old 08-08-2016, 06:48 AM   #79
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I used 90 for me but then my plan includes being a burden to my kids. Payback for their teenage years.

I also have a pension albeit a small one and an annuity

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Old 08-08-2016, 07:24 AM   #80
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I plan on being shot and killed at the age of 95 by a 20-year-old jealous husband.

Oh, and I have a DB COLA'd pension.
Does that jealous husbands wife have a good looking younger sister?
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