Not to be morbid, but I've been estimating our retirement savings for different 'end games' or ages to see just how much may be left, if any.
I use two scenarios which 'bracket' our savings:
1) SS at 70, and 0% 'real return' (after inflation and any management fees/loads/etc), and we cut our expenses to minimums
2) SS at 70, a 2% 'real return' and a bit more to play with for vacations, home upgrades, etc.
I also run my spreadsheet so that I find the age of my own demise when I have 1 years worth of expenses left.
Doing so, for scenario 1 I have enough until age 94 and for scenario 2, 101.
The 2% 'real' return makes a huge difference in longevity of funds.
I guess the unknown is when my own 'end game' is....
So, how do you approach your own estimate?
I use two scenarios which 'bracket' our savings:
1) SS at 70, and 0% 'real return' (after inflation and any management fees/loads/etc), and we cut our expenses to minimums
2) SS at 70, a 2% 'real return' and a bit more to play with for vacations, home upgrades, etc.
I also run my spreadsheet so that I find the age of my own demise when I have 1 years worth of expenses left.
Doing so, for scenario 1 I have enough until age 94 and for scenario 2, 101.
The 2% 'real' return makes a huge difference in longevity of funds.
I guess the unknown is when my own 'end game' is....
So, how do you approach your own estimate?