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Retirement Risks: It All Starts With Longevity
Old 03-18-2014, 02:46 PM   #1
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Retirement Risks: It All Starts With Longevity

A short but concise summary re: the (financial) challenge of retirement. What we all grapple with...and why all the calculators in the world only tell us what a broad range of outcomes we might expect.

Have a plan, adjust thoughtfully as the plan unfolds, and have a plan B/C/D... in case things 'don't work out' as planned.

Retirement Risks: It All Starts With Longevity - Forbes
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Old 03-18-2014, 02:55 PM   #2
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Fortunately, it is fairly straight forward to hedge longevity risk.

"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."

- Will Rogers
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Old 03-18-2014, 04:24 PM   #3
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Longevity and/or Money?

While we all want to have both, I'd say having "Longevity without Money" beats "Money without Longevity".

Money helps buy quality for Life, but having no Life is definitely having zero quality.
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
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Old 03-19-2014, 04:56 PM   #4
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Check out the obits, everyone does not live to 90 as planners suggest. Do you leave the house with an asteroid helmet just in case.?
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Old 03-19-2014, 05:31 PM   #5
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My ( divorced) Mom is 93, her brother is 89..( and both were born on the same day, 4 years apart!)...very healthy for their age.

Dad is passed.

Mom lives on Dad's SS of 1400. and pension from the ArchDiocese of about 350.

House paid off, so she lives quite comfortably ( considering "live" is in her own home, with a little lawn and garden that I take care of, and she no longer drives...) in the little town we live in in NE PA.

My maternal grandmother was 85 when she died. Paternal grandma died at 65 of cancer.

Mom's two sisters lived to 85+, and my Mom's two cousins, to 86+.

Of course, my Dad died at with my luck I inherited his genes....!!!!

So....I gotta prepare for a LONG life ( or a SHORT one if I follow in my Dad's footsteps!)

Live for today......tomorrow may never come for any of us....!
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Old 03-19-2014, 08:22 PM   #6
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Originally Posted by Moneygrubber View Post
Check out the obits, everyone does not live to 90 as planners suggest. Do you leave the house with an asteroid helmet just in case.?
I buckle my seat belt on every single trip, yet the odds of me having an accident on any single trip is far, far lower than my odds of hitting 90 (odds of a 60 yo male reaching 90 is about one in five). I'm about a dozen serious accidents behind, this year alone!

I prefer to plan for something that has a 1 in 5 chance of happening. Add in a spouse, and the odds of one living to 90 increases.

I do not have an asteroid plan, I'll just have to wing that one.

Are you telling us you don't have insurance on your home? After all, not every house burns down. Less than one in five I would guess.


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