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Will you outlive your money?
08-13-2007, 11:43 AM
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#1
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 46,756
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Will you outlive your money?
"FUKUOKA, Aug. 13 (AP) - (Kyodo)—Yone Minagawa, who had been certified by Britain's Guinness World Records as the world's oldest person at age 114 earlier this year, died of old age Monday evening, informed sources said. "
Fukuoka woman certified as world's oldest person dies+
Looks like those of us who are worried about outliving our money don't need to be concerned about living past 114. So, if you retire at 54 and want to take the conservative approach, a 60 year horizon should be just fine.
JUST KIDDING!!  I'm pretty cautious but even I am not that conservative!
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08-13-2007, 11:58 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 3,895
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i'm don't know that i'd ever want to be that old. as long as i have the physical ability & mental wherewithal to spend my last $20 bill on a saturday night special and keep some change in my pocket, i will not be outliving my money at any age.
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"off with their heads"~~dr. joseph-ignace guillotin
"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
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08-13-2007, 12:00 PM
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#3
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
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 Quote:
Originally Posted by lazygood4nothinbum
as long as i have the physical ability & mental wherewithal to spend my last $20 bill on a saturday night special and keep some change in my pocket, i will not be outliving my money at any age.
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I would rather be old, broke, suffering, and alive, than dead. At least if I'm alive, that is something - - rather than nothingness.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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08-13-2007, 12:01 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 1,250
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I don't think DFAS (mil pension) or the State of NJ treasury would appreciate my living to 114. Unless I am a great example of health, (physically and mentally able to enjoy life) I'd rather not be around at that age!
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Make no mistake, my friend, it takes more than money to make men rich. - A. P. Gouthey
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08-13-2007, 12:03 PM
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#5
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
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Quote:
Originally Posted by Fireup2025
I don't think DFAS (mil pension) or the State of NJ treasury would appreciate my living to 114. Unless I am a great example of health, I'd rather not be around at that age!
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When I was 24, I said I wouldn't want to live past 30. Somehow my viewpoint changed when I turned 30. 
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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08-13-2007, 12:14 PM
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#6
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Recycles dryer sheets
Join Date: Feb 2007
Location: nyc
Posts: 100
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Quote:
Originally Posted by Want2retire
I would rather be old, broke, suffering, and alive, than dead. At least if I'm alive, that is something - - rather than nothingness.
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I tenatively agree, though I'm really hoping to never be broke & suffering.
I'd say the suffering depends. I'd say my biggest suffering was monster cramps when I was younger (I'd regularly been found, passed out next to a toilet full of barf in high school, until it was agreed that I could stay home the 1st day of my period.) & if I had to deal with pain like that for the rest of my life, it might get a bit too much at some point.
hopefully, the rest of my life will be pretty pain-free.
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08-13-2007, 12:37 PM
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#7
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Recycles dryer sheets
Join Date: Jul 2007
Posts: 229
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I project my money pool will run pretty dry around age 90, but honestly my mother who will be 91 in October does not have much quality of life. In fact, the last 10 yrs have been very challenging for her. Now at age 60, given the family history of long life & poor health, I can say that I don't want to live to 90 (much less 100+). However, I figure that I'll change my mind when I am 79 or 80.
Quality of life is relative, but I definitely don't want to be broke and suffering.
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08-13-2007, 12:53 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 3,895
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Quote:
Originally Posted by Want2retire
I would rather be old, broke, suffering, and alive, than dead. At least if I'm alive, that is something - - rather than nothingness.
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given alzheimer's or nothingness, i'll take nothing every time.
about all that nothingness: you're just guessing; you don't know. the only thing known in that statement is the ravages of old age. i'd rather take my chances with the unknown than keep my money for that sure thing.
__________________
"off with their heads"~~dr. joseph-ignace guillotin
"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
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08-13-2007, 02:13 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,781
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Hmmm. Will I outlive my money...hope so!
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In a panamax down by the river.
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08-14-2007, 08:50 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Location: Alexandria, Va
Posts: 1,053
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I would rather be old, broke, suffering, and alive, than dead. At least if I'm alive, that is something - - rather than nothingness.
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I'm with Lazygood - My grandmother lived for 14 years in a nursing home with Alzheimer's. I'll pass. I'd rather be out of my misery.
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08-14-2007, 03:13 PM
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#11
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Recycles dryer sheets
Join Date: Apr 2007
Posts: 275
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I plan to live forever
though I know I am not, so I will go wealthy. I prefer dollars in my account to junk in the closet and garage. In fact I will have to come up with new spending plans as I age.
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08-14-2007, 11:05 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Jan 2007
Location: Thousand Oaks
Posts: 1,105
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Quote:
Originally Posted by lazygood4nothinbum
given alzheimer's or nothingness, i'll take nothing every time.
about all that nothingness: you're just guessing; you don't know. the only thing known in that statement is the ravages of old age. i'd rather take my chances with the unknown than keep my money for that sure thing.
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Yeah , but it's a pretty good guess...
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08-15-2007, 03:48 AM
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#13
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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I suspect that many on this board will not outlive thier money since it funds their retirement and they intend to only withdraw a small % each year.
On the other hand, if one only have a small nest egg and wind up with lingering health problems (like Alzhiemers or Parkinsons), the health and personal assistance expenses could break them.
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08-16-2007, 01:41 AM
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#14
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 3,895
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Quote:
Originally Posted by mh
Yeah , but it's a pretty good guess...
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when you don't know then i don't know how you would be able to judge how close is your guess to what you don't know. would that be a leap of faith? well what da ya know!
__________________
"off with their heads"~~dr. joseph-ignace guillotin
"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
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