Winning?

[Rosie]

For the hypothetical Early retiree who wants to "finish" with just enough for a funeral and a party, what approach provides the best chance of achieving this outcome? Short of taking your self "out" when the bank account is almost gone, it seems a FireCalc 50% success rate would give the best mathematical chance of balancing the odds of outliving your money with leaving money on the table.

I sincerely hope the OP does not have children or other close relatives.

Otherwise, with this approach there's a 50% chance those people would be saddled with the cost of OP's care when his money runs out.

 

[ivinsfan]

It's a government program set up with certain income and assets limits, that will pay for your nursing home costs if you are not able to. Why do you use the word burden, how would this be any different then taking and trying to maximize an ACA subsidy?

My MIL was a hard working woman who developed dementia and spent close to 6 years in a nursing home. Her kids spent every penny of her money on those costs and took not one penny for themselves, didn't worry about sheltering any assets for those whole 6 years.At that time they had a 3 year look back for spend down.

So I don't think of her as a "burden" on society. Your kids will not have to pay your costs if you run out of money. Of course the term "lower standard of living" is very fungible, but I certainly wouldn't deny myself anything I really needed or felt was important because I was worried about paying for a nursing home.

 

[Loving Life]

Of all the things I have to worry about, running out of money is not one of them.





Really the only 2 things can effect that - 1) Inflations runs rampant ( 10+ per year) But my invest profile will change to mitigate that 2) the world collapse and heads back to the stone age, of which we will be some of the 1st people who die so as not to worry.


If no materially changes, I see know issues of ever running out of money.

 

[Sunset]

For the hypothetical Early retiree who wants to "finish" with just enough for a funeral and a party, what approach provides the best chance of achieving this outcome? Short of taking your self "out" when the bank account is almost gone, it seems a FireCalc 50% success rate would give the best mathematical chance of balancing the odds of outliving your money with leaving money on the table.

I would ask those who have achieved this, but they are hard to track down.

Maybe because they either
- died early and left money on the table.
- lived too long and have no money so cannot afford internet.