Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Firecalc Age Gap
Old 10-27-2015, 09:51 AM   #1
Recycles dryer sheets
 
Join Date: Mar 2013
Posts: 108
Firecalc Age Gap

I'm sure this question has been asked before, but I was unable to find it.

DH and I have a 12 year age gap (he is older). When I plug our numbers into Firecalc, is it correct to use my expected years of retirement to test the viability of our assets? Or is that too conservative?

Right now, I'm using our combined annual expenses and combined retirement assets (we're about 60/40 for assets) with my life expectancy to run the calculator. Is that the best way to use the calculator?

Thanks for any input you might have.
__________________

__________________
hausfrau is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-27-2015, 09:54 AM   #2
Full time employment: Posting here.
 
Join Date: Dec 2006
Location: chicago burbs
Posts: 559
That's what I do when running firecalc - use my wife's LE as she is younger than I.
__________________

__________________
golfnut is online now   Reply With Quote
Old 10-27-2015, 09:59 AM   #3
Moderator
rodi's Avatar
 
Join Date: Apr 2012
Location: San Diego
Posts: 8,817
I use the longer life expectancy - in our case, me.

My husband is 9.5 years older than me - but he has longevity on his side, and I don't. All of my calcs have him living to 100, and me to 95... so you'd think, lower expenses once he kicks it for the last 4-5 years. But I also assume those last years will be expensive years (assisted living or nursing home) so I don't reduce the spend - only the income - since his SS will no longer be in the picture.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 7%, rental income 18%
rodi is offline   Reply With Quote
Old 10-27-2015, 10:24 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 11,976
Quote:
Originally Posted by rodi View Post
I use the longer life expectancy - in our case, me.

My husband is 9.5 years older than me - but he has longevity on his side, and I don't. All of my calcs have him living to 100, and me to 95... so you'd think, lower expenses once he kicks it for the last 4-5 years. But I also assume those last years will be expensive years (assisted living or nursing home) so I don't reduce the spend - only the income - since his SS will no longer be in the picture.
+1, I'd use the longer life expectancy.

If you're concerned that overstates spending for many years after the first spouse goes poof, you can modify spending to account for same by becoming a registered FIRECALC Supporter. It doesn't cost anything, but I strongly recommend making at least a small donation, FIRECALC is a valuable tool. IF you become a supporter, you can manually enter spending year by year. Supporters see this added choice on the Spending Model page.

Best of luck...
Attached Images
File Type: jpg Man Spending.jpg (272.3 KB, 9 views)
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack is online now   Reply With Quote
Old 10-27-2015, 10:57 AM   #5
Recycles dryer sheets
 
Join Date: Mar 2013
Posts: 108
Thanks for your replies. I figured as much, but I just wanted to make sure I wasn't being overly cautious. That manual entry page is sweet. I never noticed that link. That will very helpful when planning educational expenses for our kiddo. Yes, I am a supporter. I think it's a very valuable tool.
__________________
hausfrau is offline   Reply With Quote
Old 10-27-2015, 05:10 PM   #6
Recycles dryer sheets
 
Join Date: Mar 2013
Location: San Antonio
Posts: 121
Thanks for asking the question hausfrau. DW and I have a big gap between us age wise. I've been using her longer life expectancy. Your post and the subsequent answers helped reaffirm my decision.

Thanks!
__________________

__________________
haloFIRE is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How do you fill the gap when ER? (that age between say 50-60) LandlordInvestor FIRE and Money 12 11-22-2012 03:23 PM
So, do you feel your age? Act your age? Like your age? vickko Life after FIRE 84 04-10-2010 02:47 PM
Rich/Poor Gap laurence Other topics 8 06-15-2005 04:54 PM
Using Savings Bonds as Gap Filler Otto Thompson FIRE and Money 6 06-14-2004 06:50 PM

 

 
All times are GMT -6. The time now is 08:32 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.