Finance Dave
Thinks s/he gets paid by the post
- Joined
- Mar 29, 2007
- Messages
- 1,864
I don't have the exact figures, but I recall reading many times that average life expectancy is x, but the average life span of someone already 60 is longer than x. Here is an article that talks this latter language. How long will older Americans live?I don't think 86 is an unusually old age, maybe you do. Since I don't think 86 is unusual, I look at the 6% IRR. What age do you base your calculations on when you do financial planning? I think that has merit.
In other words, the second statistic removes people who die very young.
As to your choosing 86, I use 90. Why? Because I've seen 85 in much of the literature (don't have any handy), but I think I take better care of myself than most people my age, and my family history is pretty good.
Life expectancy is 77.8 years according to N C H S - FASTATS - Life Expectancy or a more recent study says just over 78 years Average U.S. Life Expectancy Tops 78, Mortality Falls In All Leading Causes Of Death, But Still Lags Behind 30 Other Countries - CBS News
Of course if you want to have a little fun, you can go here How Long Will I Live? - Life Expectancy Calculator and if you want to be morbid, you can go here The Death Clock - When Am I Going To Die?
Please note that although I included a bit of humor at the end, my post is intended to be serious and to help address some of your questions. I have not intended any portion of this to be offensive or rude in any way.