rescueme
Thinks s/he gets paid by the post
Some of us are in the rare situation of not only planning for our own lifetime, but also accounting for income for those that follow.I just don't get the 'plan to age 120 with 100% certainty with double my expected costs just in case and then cut the SWR in half cause the worst ever is yet to come, probably twice' mindset some folks have. But that's just me.
Our (disabled) son is 22 years younger than us, and will have a normal lifespan - whatever that will be. Our plan termination age is 120 to cover not only our outside chance of DW or me living to a longer age but also understanding while his current expenses are much less than us at this time, they will drastically increase when others (lawyer/investment manager/care manager) will have to take over the duties that I/wife are currenly handling.
Not every situation is the same and we all don't have the same (financial) plan for the future.
We planned for the worst and hope for the best; that's all we can do...