The how long do you plan to live thread got me thinking more about the old-age phase of retirement.
Part of my ER planning process is thinking about the kind of lifestyle I want to lead during retirement, and estimating the spending necessary to support that lifestyle. I can do this for the 50's, 60's and 70's, but I'm having a hard time picturing what I'll want to be doing at 85+, so I have no idea what to plan for expenses.
Unfortunately, I don't have any relatives or acquaintances in the 85+ group to get advice from.
Has anyone else thought through this question or found any articles, etc that deal with old-age spending needs? I've read tha Bernicke article about decreasing expenses with age, but average spending across a cohort doesn't help explain what individuals wish they could spend.
Part of my ER planning process is thinking about the kind of lifestyle I want to lead during retirement, and estimating the spending necessary to support that lifestyle. I can do this for the 50's, 60's and 70's, but I'm having a hard time picturing what I'll want to be doing at 85+, so I have no idea what to plan for expenses.
Unfortunately, I don't have any relatives or acquaintances in the 85+ group to get advice from.
Has anyone else thought through this question or found any articles, etc that deal with old-age spending needs? I've read tha Bernicke article about decreasing expenses with age, but average spending across a cohort doesn't help explain what individuals wish they could spend.