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Old 06-18-2013, 07:24 PM   #61
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T-minus 30 years, 3 months and counting
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Old 06-18-2013, 08:02 PM   #62
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When planning your retirement and/or withdrawal rates after retirement, what age do you expect to live to? It's a balance between running out of money versus running out of life. Seems like the number you choose can have a big impact on your safe withdrawal rate. I am 51 and personally use age 100. If I had a chronic health issue, I'd use a lower number. Curious what number others use.

Surprisingly
Realistically, I expect to live into my 80's. However, for financial planning purposes, I am using age 95.

If I should live to my 80's, I will revise my financial plans and use a higher age.
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Old 06-19-2013, 12:22 PM   #63
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I used 100 when we retired in 2002. At the time life expectancy was 91, so 100 represented the 10% chance of survival that long. I suspect the numbers have increased by now.
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Old 06-19-2013, 01:00 PM   #64
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To me planning for a life span of 100 is ultra conservative and insures a legacy. I have seen first hand the low quality of life brought on by Dementia, Parkinsons and Cancer. Something out there has my name it or vice versa. I don't want to cheat myself in being able to live and enjoy what my money can do in the years I have my health in such an extreme manner so as to insure a steady annual income with annual increases to 100 yrs. The probability of reaching that age is remote, especially for a man. I use 85 with the understanding that I will never run out of income, I will fall back to SS combined with a non inflation adjusted annuity if I live past that age.
+1

Try this exercise... first, estimate how many people you personally know... family, friends, coworkers (or former coworkers), people from church, neighbors, etc... (is it 100? more?)... then count how many of those people that you personally know that are over the age of 85. I would bet it is a small number. Just sayin'.
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Old 06-19-2013, 07:30 PM   #65
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+1

Try this exercise... first, estimate how many people you personally know... family, friends, coworkers (or former coworkers), people from church, neighbors, etc... (is it 100? more?)... then count how many of those people that you personally know that are over the age of 85. I would bet it is a small number. Just sayin'.
That's one reason a less than 100% SWR over a 30 year period is OK with me. A retirement failure only happens if I reach past 85 or so and we have one of the bad economic scenarios. Not that I'm counting on kicking off early...
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Old 06-19-2013, 09:35 PM   #66
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84.6 back in the 90's. Now sort of 91. Both kinda keying off IRS RMD tables.

heh heh heh - even after taxes I expect to hold some reserve(cause I'm cheap) so if I live longer then ??
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