Originally Posted by SumDay
They never were - there's no way to make this valid with only one question. This is a back of the envelope type thing.
Again, if someone wants to come up with the questions, I'm happy to create something that will give us more relevant results and then y'all can analyze away.
Originally Posted by ERD50
A more complex survey would get very complex, and I think you would end up with just a bunch of data points that represent individuals. Plus, there are a few jokers among us
I just don't see what could be learned.
Overall, people have some combination of portfolio/pensions/SS/income, some COLA'd, some not. And then people have different comfort levels with their WR and their AA. Different people are at different ages and may have different ideas on their longevity. Some may have spouses much younger or older than they are with different survivor benefits. Some may have dependents. Some are planning on spending decreasing with age, others fear their expenses will increase with age. Some may want to leave an estate to individuals or charity. And probably dozens of other things I didn't think of.
How do you capture that in a survey? What would you do with all those numbers?
I think you could probably get away with just a few questions. It really boils down to just a few things:
- Net Worth of Fixed assets
- Annual Cash Flow assets (rentals, SS, Pensions)
- Whether any of those cash flow assets are COLA'd (do you consider rentals COLA'd, as they follow inflation?)
- How much annual expenditures do you expect to get out of that combo?
You'll end up with answers like: "$1M in 60/40 portfolio, $12k/yr in rental income, $10k Pension, $10k SS, I expect $80k/yr in spending - 65yr old." or "$250k in 70/30 portfolio, $50k pension COLA'd, expect $60k/yr in spending. 55yr old."
I understand how each answer could seem like individual data points. But, whenever I look at peoples situation, that's how I see it (fixed vs. cash flow). *shrug*