I am new to some of the ER concepts and have chomped away at the FIRE calculator many times. One thing that keeps bugging me is the assumption of a zero terminal value, at say the 95% conficence, when your statistical lifespan has run it's course. In the perfect world I guess we (or someone) would be paying our estate accountant with the last dollar of our savings. But we don't live in that perfect world.
I am thinking that there should be a nest egg that might always be a nest egg. Aside from any inheritance that you might wish to pass along, do you have an estimate of what you might want in your nest egg incase you live an extra ten years beyond stats. Or if supplemental insurance beyond medicare goes bonkers or SS goes belly up. Or if you are looking at some sort of unexpected long term in home health care?
I have some younger friends that have agreed to meet me when I am 85 with a batch of lethal drugs and evaluate my mental status at that time. Unfortunately they aren't that much younger and may forget our appointment. So I'm asking about plan B.
I am thinking that there should be a nest egg that might always be a nest egg. Aside from any inheritance that you might wish to pass along, do you have an estimate of what you might want in your nest egg incase you live an extra ten years beyond stats. Or if supplemental insurance beyond medicare goes bonkers or SS goes belly up. Or if you are looking at some sort of unexpected long term in home health care?
I have some younger friends that have agreed to meet me when I am 85 with a batch of lethal drugs and evaluate my mental status at that time. Unfortunately they aren't that much younger and may forget our appointment. So I'm asking about plan B.