Most Retirees Survive

[Major Tom]

Most?

Well, nobody actually survives, if you're going to look at it that way

 

[ArkTinkerer]

Another proof that youth is wasted on the young.. Young tend to do adventurous and risky stuff. You'd think as you get closer to death by old age, with an aging body's declining capabilities and increasing risk of stroke and mental incapacity, you'd undertake more activities with a risk of sudden death (but not debilitating injury!). Skydiving anyone?

 

[dtbach]

What! No asteroid comments yet?

 

[dallas27]

Another proof that youth is wasted on the young.. Young tend to do adventurous and risky stuff. You'd think as you get closer to death by old age, with an aging body's declining capabilities and increasing risk of stroke and mental incapacity, you'd undertake more activities with a risk of sudden death (but not debilitating injury!). Skydiving anyone?

I've never done any form of any illegal drugs in my life, but i do plan, the day i find out i dont have much time left, to try them all.


Sent from my iPhone using Early Retirement Forum

 

[sengsational]

I've never done any form of any illegal drugs in my life, but i do plan, the day i find out i dont have much time left, to try them all.

If you're the typical ER-forum planner, you'll need to start building your conections now, since if you're ill, it might be a pain to locate "the guy". Weird thing is, I think it's easier than ever to find "the guy"...they leave their house so it doesn't get seized. Speculation follows.

Over the last couple of years, I've been in three nice suburban neighborhoods, sitting outside with a view of the road, and saw a twenty-something guy walk out of his house, several times within a couple of hours, then walk back. Doesn't look like exercise (twenty-somethings don't walk for excercise, and besides, you'd do your walk and be done for the day, not go out two or three times). Only in one of the neighborhoods did I see the guy walk up to a car, but I presume that if I made an effort, I'd have seen the exchange in the other locations.

 

[ArkTinkerer]

I'm surprised we don't see "recreational pharmacology" under the hobbies thread...

 

[Hamlet]

I think of it this way--

There is no 100% financial certainty of anything. I'd hate to spend an extra decade working to put a belt and two sets of suspenders on my portfolio value to avoid a very small chance of having to downsize my lifestyle in the unlikely event that I live too long.

What's the worst case of running low on money? Downsizing to a little apartment and living mostly on SS. I'm not terrified of that. I'll try to avoid it, but a 5% chance of that happening is better than taking a large risk of dying while I'm still working.

My mother is going to retire soon with what I suspect is a risky amount of money (although I don't have actual numbers, and she does have a financial planner that hasn't screamed bloody murder about it, so it can't be too bad). My father had a stroke recently while working with one-more-year syndrome.

Which one of those two do you think I'm going to seek to emulate

Which is why many of us here are rather conservative with our withdrawal approaches.

If I may digress a little, for those who use the Firecalc/SWR line of thinking, I occasionally wonder about those who say they are comfortable with a success rate lower than 100% - or even those who are happy with a success rate right at 100%. If history acts roughly like it did in the past, then our intrepid early retiree won't run out of money but what if he happens upon one of the less desirable sequences of returns? Will he/she be comfortable with how low his/her portfolio balance could go? Technically, if you still have a few dollars in the bank, you haven't run out of money..........

 

[Midpack]

Indeed, many people head into retirement with little money and little planning. And life has a way of throwing financial or health-related curve balls even when we have planned ahead or think everything is under control.

But the reality is that most people simply find a way to adjust.

That's profound. What exactly is the alternative? Not adjusting? Skillful writing...

I guess that's why it became a recipe thread.

 

[eta2020]

+1

A financial shortcoming simply means a reduction in the quality of life, and even that is dubious, or highly subjective. Are we saying that a person living in a mansion is having a higher quality of life than one living in a small apartment?

A medical curve ball may mean you have NO life. And without life, there is ZERO quality.

Eventually you get medical curve ball. I hope in my case it will not be something like Alzheimer's. I can handle sickness if my brain still works like a Swiss watch.

But loss of mental capacity is terrifying....

 

[Aspire]

I think my actual health risks would decrease if I stopped working, because I could look after myself better. On the other hand, part of the reason I am still (for the moment) working is to have money in case of future medical needs. It's difficult to strike the right balance.
When I had a back problem, I bought myself an electric recliner chair. I would hate to be totally dependent on a state pension and unable to make that kind of decision for myself, although I have always lived frugally.

 

[daylatedollarshort]

I think DH and I might be delaying medical expenses by not working as much and getting more sunshine, fresh air, exercise, less stress and more home cooked meals. But on the other hand this might allow us to live longer so the total amount we spend on eventual health care may actually go up, if our lifestyle changes allow us to live longer.

 

[longranger]

This thread can't help but be a little terrifying. As we age and our faculties do deteriorate. The "lucky" centurians mostly end up helpless as babies and nowheres near as cute. That is if we are lucky enough to make it into our senior years past cancer, heart disease, kidney failure, diabetes, depression etc..

Point being if we can have a 90% plus chance of enjoying life to the fullest before the inevitable bad things happen what stops us? I mean really living while you can enjoy it-- what stops so many of us me included? The only answers I can bake up are fear of the unknown and fear of death. Retiring to a new and different lifestyle is partially rejecting the priorities by which most of us have judged our own worth FOREVER! If it doesn't work out so good we will surely die. Even if it works out wonderfull we will surely die. Hence major change is tantamount to accepting death at the same time you boldly embrace what is left of your life.

 

[eta2020]

When I returned to my hometown in Europe after 20 years in US old lady told me: "It does not matter if you are rich or poor. We all have to die"

By now she is passed away.

Time is a valuable commodity. Use it wisely. Money can buy you some of that time.....

 

[daylatedollarshort]

If it doesn't work out so good we will surely die. Even if it works out wonderfull we will surely die. Hence major change is tantamount to accepting death at the same time you boldly embrace what is left of your life.

Like this quote? After the game the king and the pawn go into the same box - Italian Proverb

 

[RonBoyd]

O’Reilly describes what happens next when a gravely hurt patient asks him: “Am I going to die?”

Matthew O'Reilly: “Am I dying?” The honest answer. | Talk Video | TED.com

 

[mathjak107]

Eventually you get medical curve ball. I hope in my case it will not be something like Alzheimer's. I can handle sickness if my brain still works like a Swiss watch.

But loss of mental capacity is terrifying....

i always hoped it was my mind that went first ha ha ha

 

[Telly]

Matthew O'Reilly: “Am I dying?” The honest answer. | Talk Video | TED.com

Thank you for posting that link! I highly recommend watching that short video.