Not good enough, you may be a black swan. Do you really want to run out of money at 976?Methusalah lived 969 years. To plan on less would not be prudent.
Ha
...for you die-hards...
Statistics, Shmatistics!
I plan to kick the bucket (after ticking off everything on the bucket list) at 75. I'll announce it on the forum so you can all come to the party.
I'm sorta with you. If I screw up, will you help?Statistics, Shmatistics!
I plan to kick the bucket (after ticking off everything on the bucket list) at 75. I'll announce it on the forum so you can all come to the party.
I'm sorta with you. If I screw up, will you help?
The statistics all say that this is a key point. You see lots of little old ladies, but not many big old ladies. Maybe the obesity epidemic will save SS...He's lived a very long life because he ate small meals...
Seriously now, I believe that I have misled you there. I have since removed that line from my post.
What the chart shows is that if you make it to 85 years old then your mean life expectancy is less than 10 years.
Sorry for the confusion.
Looking at another source (Actuarial Life Table) it shows that for men around 30% of the population will make it to 85. For women 45 % make it to 85.
From that same source only 1% of men and ~3 % of woman will make it to 99. Similarly ~15% of men and 26% of woman will make it to 90.
2006 data for the Social Security area population is comprised of (i) residents of the 50 States and the District of Columbia (adjusted for net census undercount); (ii) civilian residents of Puerto Rico, the Virgin Islands, Guam, American Samoa and the Northern Mariana Islands; (iii) Federal civilian employees and persons in the U.S. Armed Forces abroad and their dependents; (iv) crew members of merchant vessels; and (v) all other U.S. citizens abroad.
Statistics, Shmatistics!
This whole age of death issue along with future investment returns, and future inflation rates, and future tax rates, and SS and Medicare status make this whole retirement planning thing a big crapshoot.
So that's why I dont plan my SWR to the second decimal point.
+1Methusalah lived 969 years. To plan on less would not be prudent.
Speaking of bucket, do you have a bucket list?I plan to kick the bucket (after ticking off everything on the bucket list) at 75. I'll announce it on the forum so you can all come to the party.