Koolau
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I read somewhere that statistically every year past 90 you are 50% less likely to be alive the next...or something like that...don't quote me.
would be able to make it work on her own.
I run calculations to 100, but I likely will die sometime between 85 and 92. I figure a 95% chance of that. So, I plan for 92..and can see the data up to 100 if need be.
Lots of unknowns though. What will future inflation be? What will stock returns be? What will SS benefits look like? Will my pension convert to cash value at some point?
92 is the year I plan firmly to.
The most stress and highest SORR will be when I retire during my kid's college years. They have some college money, but with the way prices are, they won't have enough to cover it all. So they may need to punt there. IF any of our folks pass along, that will definitely free up some cash to help cover the college, and perhaps Grandparents kick in some which I am not counting on.
I just know, the first five years of my/our plan will be stressed in a downturn with college expenses so I need to save a BUNCH of cash in the next 10 yrs to retire at 50 to 52 like our plan states.
Here is a table that suggest early 90s you have about a 20% chance of dying each year and by late 90s, it's almost a 40% chance of dying each year. Not sure what that info does for us, but it is interesting - especially since I have known SEVERAL people who have lived to or past 100 (106 is the record.) YMMV
https://www.ssa.gov/oact/STATS/table4c6.html