Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Longevity Illustrator
Old 05-20-2016, 10:14 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,264
Longevity Illustrator

The Oblivious Investor Investing Blog Roundup email this week was about a new longevity tool available from the SOA and AAA... see link below.

Actuaries Longevity Illustrator - Welcome to the Actuaries Longevity Illustrator

It suggests that there is a 50% chance that DW or I will live to 94 so that makes our plan to defer SS a bit easier for me (ignoring the risk of benefits being reduced due to funding problems).

Anyhow, I think it is an interesting tool to add to the toolbox.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56
pb4uski 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 05-20-2016, 10:17 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Big_Hitter's Avatar
 
Join Date: May 2013
Location: Les Bois
Posts: 5,761
that's neat!
__________________
You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
Big_Hitter is offline   Reply With Quote
Old 05-20-2016, 12:15 PM   #3
gone traveling
 
Join Date: Sep 2003
Location: DFW
Posts: 7,586
Just enter age, smoking/non-smoking and general health seems a little vague to me, at least the general health options.
eytonxav is offline   Reply With Quote
Old 05-20-2016, 02:19 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,495
Quote:
Originally Posted by DFW_M5 View Post
Just enter age, smoking/non-smoking and general health seems a little vague to me, at least the general health options.
Actually, they're not promising any earth shattering revelations. From the conclusions section:

Quote:
The Actuaries Longevity Illustrator is designed to offer some perspective on how long you might live. The data presented here can serve as a foundation for understanding your longevity risk (the risk that you and your spouse/partner will live beyond a certain age) as it relates to your retirement.

However, the purpose of the Longevity Illustrator is not to tell you with certainty how long you will live or even how long you can expect to live, because:

The Longevity Illustrator is based on just four input items and there are many factors that affect how long one might live, and
The Longevity Illustrator is based on average expectations that may or may not be appropriate to any one individual's circumstances.
The purpose is also not to determine what financial plans you should put into place. Rather, the purpose of the Longevity Illustrator is to:

Familiarize you with the possible longevity for someone with your general age and health characteristics. With this awareness you can then consider strategies to manage lifetime income from a new perspective.
Provide a way to look at the combined longevity in retirement of you and your spouse or partner.
Provide longevity data in several different ways so you can choose the one that is most appropriate for you.
What I found enlightening, which I've never seen anywhere else, is that there is a possibility I could live to 105 years of age. Whether I would want that is another story entirely.
Options is offline   Reply With Quote
Old 05-20-2016, 02:23 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Big_Hitter's Avatar
 
Join Date: May 2013
Location: Les Bois
Posts: 5,761
correct, most people don't understand that they OR their SO has a really good chance of making it to 90. it's educational, and needed IMO
__________________
You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
Big_Hitter is offline   Reply With Quote
Old 05-20-2016, 03:10 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,264
I agree... I thought that the joint mortality was most interesting since it is otherwise hard to come by such info.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56
pb4uski is offline   Reply With Quote
Old 05-20-2016, 04:15 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 2,525
What I found most interesting is that somehow I tend to think of either of our inevitable demises as being somewhere way out there (I'm 65 and fairly active) but I see that the chances of either wife or myself passing within 15 years is 50%, 90% within 25 years. I better crank up that WR while we can both enjoy it.
ejman is offline   Reply With Quote
Old 05-20-2016, 04:37 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 35,712
Also being of a pessimistic nature, I like to look at the glass as half-empty.

It says that the chance of one of us dying in the next 10 years is almost 20%, increasing to almost 50% in 20 years, and more than 80% in 30 years.

Darn! I recall events 20 years ago like yesterday. And the next 20 years will go a lot faster. I am dead.

And people here keep worrying about money matters. Most people run out of life before money. When your money runs low, there are all kinds of ways to stretch it. When your life is ending, there's no begging the Grim Reaper.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)

"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
NW-Bound is offline   Reply With Quote
Old 05-20-2016, 05:36 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
 
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
Quote:
Originally Posted by NW-Bound View Post
And people here keep worrying about money matters. Most people run out of life before money. When your money runs low, there are all kinds of ways to stretch it. When your life is ending, there's no begging the Grim Reaper.
Not always true.

__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
harley is offline   Reply With Quote
Old 05-20-2016, 06:34 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 35,712
Some of the readers here remember that I was faced with a serious illness 3 years ago that could have me pushing daisy. I did not elaborate, but suffice to say, I cheated death once.

One of these days, when I am in the mood, I may tell the story and give more glory, er, gory details.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)

"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
NW-Bound is offline   Reply With Quote
Old 05-20-2016, 06:49 PM   #11
Thinks s/he gets paid by the post
bmcgonig's Avatar
 
Join Date: Aug 2009
Posts: 1,577
Quote:
Originally Posted by NW-Bound View Post
Some of the readers here remember that I was faced with a serious illness 3 years ago that could have me pushing daisy. I did not elaborate, but suffice to say, I cheated death once.

One of these days, when I am in the mood, I may tell the story and give more glory, er, gory details.

Do it now ! I wanna hear it.


Sent from my iPad using Early Retirement Forum
bmcgonig is offline   Reply With Quote
Old 05-20-2016, 07:37 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 35,712
Well, maybe some day.

I like to say to everybody that we should enjoy life and not to worry too much about money. Most of the people here who have thought about retiring early have done a lot more preparation for the financial aspect compared to the general public. But I bet few think of the biggest unknown of all: our health.

I was and still am generally healthy. My doctor once said my blood test result was the best he had seen in a while. I took no medication. And boom, it hit me like the proverbial bus. I was never the type who thinks he will live to 100. But, but, but I asked myself, why so soon? I was pessimistic, and still caught by surprise. The older and older you get, the more chance of bad things happening. But I was only 56, for crying out loud.

I am OK now obviously. One of these days, I will tell. Please bear with me. Meanwhile, people should stop worrying too much about money. If you have life but no money, working as a Walmart greeter ain't so bad. Without life, what does money get you?
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)

"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
NW-Bound is offline   Reply With Quote
Old 05-21-2016, 07:02 AM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,317
Nice tool. I like popping in the view with early 80s set as certain since my parents and three older siblings made it past that point.
__________________
Idleness is fatal only to the mediocre -- Albert Camus
donheff is offline   Reply With Quote
Old 05-23-2016, 05:25 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Jan 2014
Location: Everett
Posts: 1,592
Being adopted, it's refreshing to come across longevity estimators that don't need inputs regarding family health history.
O2Bfree is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
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
longevity: influence the outcome perinova Health and Early Retirement 3 12-06-2006 09:13 PM
Longevity of a cedar fence mickeyd Other topics 8 08-03-2006 01:10 PM
Scott Burns -- Longevity Risk intercst FIRE and Money 12 01-09-2005 10:54 AM
longevity insurance ats5g FIRE and Money 17 02-06-2004 07:28 AM

» Quick Links

 
All times are GMT -6. The time now is 03:15 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.