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Old 03-30-2011, 12:58 PM   #21
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Master Blaster that is a very telling stat that less than 10% of the population make it to 85. I suppose you are really going kick me in the groin by next saying most of those people of that age are women!!
Seriously now, I believe that I have misled you there. I have since removed that line from my post.

What the chart shows is that if you make it to 85 years old then your mean life expectancy is less than 10 years.

Sorry for the comfusion.

Looking at another source (http://www.ssa.gov/oact/STATS/table4c6.html) it shows that for men around 30% of the population will make it to 85. For women 45 % make it to 85.

From that same source only 1% of men and ~3 % of woman will make it to 99. Similarly ~15% of men and 26% of woman will make it to 90.
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Old 03-30-2011, 01:07 PM   #22
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Quote:
Originally Posted by MasterBlaster

Seriously now, I believe that I have misled you there. I have since removed that line from my post.

What the chart shows is that if you make it to 85 years old then your mean life expectancy is less than 10 years.

Sorry for the comfusion.
I guess that sounds a little better, MasterBlaster, but you offered me no encouragement that I had as good a chance to make it to 85 as a Woman has!
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Old 03-30-2011, 01:08 PM   #23
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For planning purposes, I'm using 85 for me and 90 for DW.

Based on family history, I think I can shorten my estimates to 75 and 80 for DW.

If we pass early, the kids will have a few extra nickels to rub.
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Old 03-30-2011, 01:19 PM   #24
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For planning purposes, I am using 100 for both DW and me. Based on our family histories, it's probably way too optimistic for me, perhaps not so for DW. So we are planning for a 60+ year retirement.
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Old 03-30-2011, 01:25 PM   #25
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My max age for planning purposes is 100, even though I know that we'll probably both be dead long before then.

You are so far away that there's not much difference what you assume. Maybe if you plan to live 30 years beyond 55 you can safely withdraw 4% per year. If you plan to live 44 years beyond 55, you can safely withdraw 3.9%. That's really splitting hairs at age 38.
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Old 03-30-2011, 01:30 PM   #26
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I've been using 95 in my plans. I use it more to find the return needed on my investment accounts to last that long. Currently, it's less than 2%, so I figure I'm good for beyond that age.
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Old 03-30-2011, 01:33 PM   #27
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I plan for an infinite lifespan.

Despite the rumours, I'm really an optimist.
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Old 03-30-2011, 01:36 PM   #28
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It just occurred to me that at the end of this year, DH will be 57 and I'll be 54. That means I can knock off a year of retirement when I use FIREcalc. ......
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Old 03-30-2011, 01:44 PM   #29
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Methusalah lived 969 years. To plan on less would not be prudent.

Ha
Not good enough, you may be a black swan. Do you really want to run out of money at 976?
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Old 03-30-2011, 02:05 PM   #30
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I use 95 for calculations but I don't expect to be spending much past my early 80s. We budget a large amount for travel. But I don't expect I will be up for extensive travel at that age and with decent health insurance and LTC I don't anticipate huge medical costs. Maybe I will remodel the house in 20 years to make things more comfy for the denouement -elevator, media room.
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Old 03-30-2011, 02:52 PM   #31
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I plan for 100 although I'm not sure I would want to live till then. I would rather have some money left over than not have enough to carry me that long. Guess that means I should get serious about putting a will together.
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Old 03-30-2011, 03:00 PM   #32
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...for you die-hards...
Pun intended...

I assume about age 85, based on family history, various good and bad habits, etc. But it could be <ack>...............................
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Old 03-30-2011, 04:14 PM   #33
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I figure to age 90. My dad died at 78, his dad at 79, great-grandad at age 90. That's on my dad's side. Mom's side did a little better but not much. I'm not too worried about it. Even if I run out of money in all my accounts, I'll still get my 2 COLA'd pensions till I croak, and I'm fairly sure they'll keep me afloat. I probably won't need as much when I'm 90 as when I'm 60. That assumes all basic needs and health & LTC coverage, which I am/will be prepared for. If I kick off, wife will get survivor benefits from my 2 pensions plus her own SS, and will have all the insurance that we both shared while I was alive. We'll be ok.
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Old 03-30-2011, 04:18 PM   #34
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I use 95 in our plans, splitting hairs out that far is statistical noise. And I hope I am long gone before I reach 95, though my parents are both 89 and still puttering along...
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Old 03-30-2011, 04:59 PM   #35
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Try this......


The Death Clock - When Am I Going To Die?
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Old 03-30-2011, 05:03 PM   #36
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Statistics, Shmatistics!

I plan to kick the bucket (after ticking off everything on the bucket list) at 75. I'll announce it on the forum so you can all come to the party.

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Old 03-30-2011, 05:12 PM   #37
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Statistics, Shmatistics!

I plan to kick the bucket (after ticking off everything on the bucket list) at 75. I'll announce it on the forum so you can all come to the party.

Not me! If I don't live until at least 85, it just wouldn't be right. I'll sue.
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Old 03-30-2011, 05:15 PM   #38
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Planning on 100, every decade the maximum life expectancy goes up by about a year, so I think that is reasonable for my young age. My great grandfather lived to 102, and both my grandfathers into their late 80s, despite one falling off a high ladder three separate times in his 80s, and the other having a chronic depression disorder for a long time.
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Old 03-30-2011, 05:23 PM   #39
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I've been using 80 as cut off, am considering lowering that to 75.
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Old 03-30-2011, 05:46 PM   #40
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Statistics, Shmatistics!

I plan to kick the bucket (after ticking off everything on the bucket list) at 75. I'll announce it on the forum so you can all come to the party.

I'm sorta with you. If I screw up, will you help?
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