Huston55
Thinks s/he gets paid by the post
An interesting article that's making me wonder about the potential over conservatism in our spend plan. We primarily use Fido RIP and have 92yo and 94yo set as life expectancy for myself and DW, respectively. Per this article, that's clearly too conservative, and I need to evaluate alternative scenarios. I also noted that RIP reduced DW's expenses by only ~5% upon my demise, which seems like way to small a decrease.
Hmmm. Maybe she's planning on a boyfriend after I'm gone.
Summary:
The bottom line, though, is simply this: when setting a time horizon for a retirement plan, there should be differences in the planning assumptions for single individuals versus married couples. In addition, it's crucial to recognize that while there is a high likelihood that at least one member of a couple lives for several decades in retirement, the odds are also very high that it will be only one of them for much of that time period - not both - so be certain to plan and adjust projected retirement expenses accordingly!
Life Expectancy Assumptions In Retirement Plans - Singles, Couples, And Survivors | Kitces.com
Hmmm. Maybe she's planning on a boyfriend after I'm gone.
Summary:
The bottom line, though, is simply this: when setting a time horizon for a retirement plan, there should be differences in the planning assumptions for single individuals versus married couples. In addition, it's crucial to recognize that while there is a high likelihood that at least one member of a couple lives for several decades in retirement, the odds are also very high that it will be only one of them for much of that time period - not both - so be certain to plan and adjust projected retirement expenses accordingly!
Life Expectancy Assumptions In Retirement Plans - Singles, Couples, And Survivors | Kitces.com