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Old 01-10-2016, 04:27 PM   #21
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Building up investments has benefits outside of early retirement. I may fail to retire early but I'll still be glad I lived below my means and invested.

The extra $22k a year I'm getting from my brokerage account dividends is awesome. I don't have to reinvest it. I could spend it on vacations or a new car.

The biggest benefit is the added peace of mind I get from not being completely reliant on w-2 income. I like getting paid for just waking up in the morning.
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Old 01-10-2016, 04:30 PM   #22
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I'd much rather leave something to my progeny then run out cash before I run out of breath, and become a burden to them.
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Old 01-10-2016, 04:34 PM   #23
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yes OP, you have settled many estates with 2M+ left over due to premature death. This is the exception, not the norm. People need to be conservative and prudent when planning for retirement. Once cancer is cured and with nanotechnology , there is no reason we can't live to 100 in the near future.
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Old 01-10-2016, 04:39 PM   #24
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Good conversation starter, with over 20 responses in a few minutes maybe i struck a chord, so those planning for 95 please send along your superbowl predictions ( should be a lock only a couple weeks aways) and more importantly list the Powerball numbers for next week,,,


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Old 01-10-2016, 04:48 PM   #25
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I think anyone denying they could live to age 95 is sticking their head in the sand. Planning for the possibility is far different from "knowing they will".

Like my dad was fond of saying in his late 80's, "If I had know I was going to live so long I would have taken better care of myself."
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Old 01-10-2016, 04:52 PM   #26
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I don't hear anyone feeling that they have control... in fact just the opposite... they don't and don't want to have a diet of cat food in their 90s should they live that long.
I'm curious, why cat food? Is it much cheaper than people food? Because I know some of the meals my mom cooks (for family of 4) cost less than $5 for raw ingredients and there's usually plenty of leftovers.

Instant ramen is like 30 cents.
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Old 01-10-2016, 04:57 PM   #27
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I'm curious, why cat food? Is it much cheaper than people food? Because I know some of the meals my mom cooks (for family of 4) cost less than $5 for raw ingredients and there's usually plenty of leftovers.

Instant ramen is like 30 cents.
yes it's much cheaper and the food of choice of destitute retirees, apparently
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Old 01-10-2016, 05:00 PM   #28
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I'm curious, why cat food? Is it much cheaper than people food? Because I know some of the meals my mom cooks (for family of 4) cost less than $5 for raw ingredients and there's usually plenty of leftovers.

Instant ramen is like 30 cents.
I think it's perspective, being Asian, I'm worried/want to avoid the bowl of a white rice and ketchup or soy sauce for a meal. Them some tough days from my childhood.

I don't own a cat, but I assume a can of cat food is about the same price range as a can of tuna or soup.
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Old 01-10-2016, 05:04 PM   #29
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I think it's perspective, being Asian, I'm worried/want to avoid the bowl of a white rice and ketchup or soy sauce for a meal. Them some tough days from my childhood.
yeah that's certainly missing a few of the key food groups

I love rice myself, growing up in the gulf coast, we ate it just about every meal....never plain, but with gumbo, chili, hoppin john, etoufee, etc

now, back on topic, with regard to the 95 comment, that's a low probability event right now (unless you happen to be 94) and almost no one dies on his or her "life expectancy" half die before and half die later, in general

if dying as a destitute retiree isn't an issue, then why are there so many scholarly articles about the problem of poverty in retirement? also, if you don't want to die with $2M in your pocket, just load up on annuities
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Old 01-10-2016, 05:05 PM   #30
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These are the ages of those recently passed from my local paper, 71, 68, 63, 82, 92, 71, 91. Real numbers, not wishful thinking.




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Old 01-10-2016, 05:06 PM   #31
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These are the ages of those recently passed from my local paper, 71, 68, 63, 82, 92, 71, 91. Real numbers, not wishful thinking.




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that's not a credible sample size, plus we don't know how many of those folks were "retired"


are you trained in longevity risk, mortality analysis or the construction of mortality tables?


one key issue you are missing is future mortality improvement - if you want you can read the SOAs 2014 mortality study where they discuss the development of the MP-2014 projection scale
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Old 01-10-2016, 05:12 PM   #32
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I think it's perspective, being Asian, I'm worried/want to avoid the bowl of a white rice and ketchup or soy sauce for a meal. Them some tough days from my childhood.
Lol, I actually like white rice and soy sauce. Other "instant" meals is rice and shrimp paste, and rice and raw egg with a pinch of salt.

Asian, too, and back in the Philippines, we never actually bought cat food. The cats ate our leftovers (usually rice mixed with fish mushed together in a little bit of water).
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Old 01-10-2016, 05:16 PM   #33
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that's not a credible sample size, plus we don't know how many of those folks were "retired"


are you trained in longevity risk, mortality analysis or the construction of mortality tables?


one key issue you are missing is future mortality improvement - if you want you can read the SOAs 2014 mortality study where they discuss the development of the MP-2014 projection scale

Here is my projection scale, 17 year old sitting next to me at a stop light with his head down on a smart phone and T bones someone down the road under the age of 95.




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Old 01-10-2016, 05:20 PM   #34
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These are the ages of those recently passed from my local paper, 71, 68, 63, 82, 92, 71, 91. Real numbers, not wishful thinking.

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If you're healthy and have good family longevity I would overestimate instead of underestimate. I'd rather assume I'm going to be at the high end of that spectrum than the low end. Like others have said, it's worth it to me to avoid poverty in my later years if I make it that long. It would be an awfully long retirement if I ran out of money at 75 and lived to 98.
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Old 01-10-2016, 05:23 PM   #35
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Well my Dad died at 92, and my Mom just died at 102. Unfortunately, she had outlived her money. When they were younger, there were not the IRA's, etc. to help them save for the future. My dad probably did not think my mother would outlive him by 10 years.
I am 77, and hope I get my mother's genes. I have enough saved along with SS and pensions, to not have to worry. In fact, since our kids could use the money now, rather sometime in the future, I am distributing part of my RMD to them.
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Old 01-10-2016, 05:24 PM   #36
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... they don't and don't want to have a diet of cat food in their 90s should they live that long.
I used to eat a lot of Tuna. Always cheaper than cat food.
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Old 01-10-2016, 05:25 PM   #37
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None of these numbers apply to anybody. They only apply to the group. Your or my chances of living to 120 or tomorrow fall into the category of "Not Knowable".

I plan for the long end. If I croak-off early and unexpectedly it's not like I'm going to be around to complain about it. If I live a long time, with all the other crap I will have to worry about, I don't want running out of money to be on the that list.
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Old 01-10-2016, 05:25 PM   #38
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Well my Dad died at 92, and my Mom just died at 102. Unfortunately, she had outlived her money. When they were younger, there were not the IRA's, etc. to help them save for the future. My dad probably did not think my mother would outlive him by 10 years.
I am 77, and hope I get my mother's genes. I have enough saved along with SS and pensions, to not have to worry. In fact, since our kids could use the money now, rather sometime in the future, I am distributing part of my RMD to them.

Good man!


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Old 01-10-2016, 05:26 PM   #39
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I don't have to worry about planning, a fortune teller told me my exact date of death on November 16th 2052 so I can spend every last penny without fear of outlasting it, She also told me I would die in my sleep so I can party hard the night before
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Old 01-10-2016, 05:27 PM   #40
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I don't have to worry about planning, a fortune teller told me my exact date of death on November 16th 2052 so I can spend every last penny without fear of outlasting it, She also told me I would die in my sleep so I can party hard the night before

Lol, my point exactly..


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