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Updated longevity estimator
Old 10-11-2019, 02:40 PM   #1
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Updated longevity estimator

https://www.longevityillustrator.org/

Enjoy!

"The ALI has been developed as an educational tool by the American Academy of Actuaries and the Society of Actuaries. Although the ALI has been designed to be used to estimate longevity for retirement, it may have additional applications. While the ALI provides a reasonable approximation, you or your spouse/partner’s actual lifetime can differ significantly from these estimates, either above or below. The ALI is not designed to address your finances; this includes your investments, your earning potential and your anticipated expenses."
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Old 10-11-2019, 02:46 PM   #2
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Not too much detail, but okay.
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Old 10-11-2019, 03:03 PM   #3
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Over 20% chance of making 95?
Don't think so.
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Old 10-11-2019, 03:04 PM   #4
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It requires very little info as input. But given what it is, it confirms that there is ~10% chance that one of us will reach 101 yrs old. We used 100 yrs of age in our planning. But for both of us to reach that age. There is also a ~10% chance that we will both survive to age 92.

On the other hand, there is a 10% chance that one of us will leave this Earth within the next 4 yrs.
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Old 10-11-2019, 03:09 PM   #5
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Originally Posted by GravitySucks View Post
Over 20% chance of making 95?
Don't think so.
Sure. And as a bet, the odds are 4/1 in favor of you won't. But would you bet your entire retirement finances/planning on running out before 95?
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Old 10-11-2019, 03:17 PM   #6
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Looks similar to the charts that the SS puts out. The big take-away from a planning perspective, for me anyway, is the either column. The chances of either DW or I reaching 95 is a lot higher than just my individual chance.
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Old 10-11-2019, 04:52 PM   #7
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Couldn't play. Person 1's retirement age must be between 63 and 99, which leaves me out since I retired in my 50's. And Person 2 doesn't even have a space for retirement age.
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Old 10-11-2019, 04:55 PM   #8
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Looks similar to the charts that the SS puts out. The big take-away from a planning perspective, for me anyway, is the either column. The chances of either DW or I reaching 95 is a lot higher than just my individual chance.
Indeed.
The major reason I moved our retirement planning to 95 death age.
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Old 10-11-2019, 05:39 PM   #9
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Couldn't play. Person 1's retirement age must be between 63 and 99, which leaves me out since I retired in my 50's. And Person 2 doesn't even have a space for retirement age.
If you don't enter a retirement age, is assumes you are already retired. I just tried it using a 1970 year of birth. Sure enough it worked. In the calc's, it reported retirement was at age 50. Try again leaving that space blank.
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Old 10-12-2019, 06:13 AM   #10
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Quote:
Originally Posted by Amethyst View Post
Couldn't play. Person 1's retirement age must be between 63 and 99, which leaves me out since I retired in my 50's. And Person 2 doesn't even have a space for retirement age.
It did not work for me with my actual retirement age so I entered the lowest acceptable age (my current age) and it produced a result. I wondered about that - seems like the data probably doesn't add much to the equation.
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Old 10-12-2019, 07:41 AM   #11
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Quote:
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Couldn't play. Person 1's retirement age must be between 63 and 99, which leaves me out since I retired in my 50's. And Person 2 doesn't even have a space for retirement age.

Interesting, I entered my retirement age as 54, even though that's in the future for me, and it accepted it. What's annoying is that you can't put in a retirement age for the other person. My partner and I are only a year apart in age, but I know some couples here have a 10+ year difference. Oh well, it's still interesting, but I'd love to see a calculator/guesstimator that asks for how long your parents and grandparents lived, more health data, stuff like that.
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