How long do you expect to live?

[bae]

Related to the "how low can you go" thread, and the "she sold it all" thread:

Two questions:

Q1: In your financial planning, how long are you planning on living?

Q2: Are you planning on spending down your assets to zero, or leaving a substantial amount of your capital to a future generation, or some cause of interest to you?


A1: My grandparents and great-grandparents all lived into their mid-to-late 90s. I'm planning on a 99 year lifespan for myself just so I don't run out early. My wife's family tends to die in their late 80s/early 90s. Look for me on Tindr in about 3 decades :-)

A2: I'm planning on leaving the vast portion of our capital for the use of future generations, so I'm not adopting a spend-to-zero approach at this time.

[iris lilies]

I expect to die before DH. My pension income dies with me (or continues another 8 years maximum for DH.)

If I die first, DH will have modest Social Security income and our stash. The stash is pretty significant and he also has two fall backs

1) he is very frugal
2) he can do small Mr. Fixit jobs for income

If that isnt the case and he dies before me, my income will be decent, around $53,000 annually. Plus the stash. Which I have no intention to preserve. Die Broke is my philosophy.

[razz]

I plan to be in my paid up and modest home until 99 years at least and then re-evaluate the situation. I have enough in pension for living expenses for some time to come. Family will inherit whatever remains.

[dado potato]

There is an interesting longevity calculator at
https://www.livingto100.com/calculator

According to that tool my life expectancy is 94.

I could live beyond 94. There is also the matter of morbidity before death. It may be possible (and enlightened self-interest) to compress morbidity. The span of healthy and active years before the onset of debilitating disease is what matters to me most. I will settle for 94, followed by compressed morbidity, then death with dignity. I hope this does not open a can of worms (or fly larvae) in the discussion.

I plan to annuitize assets when I attain the age of 73-75 with the purchase of Single Premium Immediate Annuities (and some deferred annuities with lesser amounts to provide for increases in the cost of living in my riper years.) The annuities will be joint, so the second-to-die will basically die broke.

[razz]

Needing to enter an email address for periodic updates from the website is enough to discourage me from getting the results of the survey

There is an interesting longevity calculator at
https://www.livingto100.com/calculator

According to that tool my life expectancy is 94.

I could live beyond 94. There is also the matter of morbidity before death. It may be possible (and enlightened self-interest) to compress morbidity. The span of healthy and active years before the onset of debilitating disease is what matters to me most. I will settle for 94, followed by compressed morbidity, then death with dignity. I hope this does not open a can of worms (or fly larvae) in the discussion.

I plan to annuitize assets when I attain the age of 73-75 with the purchase of Single Premium Immediate Annuities (and some deferred annuities with lesser amounts to provide for increases in the cost of living in my riper years.) The annuities will be joint, so the second-to-die will basically die broke.

[iris lilies]

does a reverse mortgage factor into anyone's plan, even as a possibility?

[catherine]

does a reverse mortgage factor into anyone's plan, even as a possibility?

Good question. One of my aunts (94) who lives with my cousin has one. Dave Ramsey says they are stupid and costly. But if somebody really wanted to stay in their home and needed extra income, I guess it could be a reasonable option.

[bae]

does a reverse mortgage factor into anyone's plan, even as a possibility?

In extremis, yes. In reality, I hope not - the fees/rates seem high, and my daughter would like to have this house when we're done with it.

[Yppej]

does a reverse mortgage factor into anyone's plan, even as a possibility?

It would be a last resort. The big unknown for me is what medical costs will be. I think with all its different parts Medicare is unnecessarily complex and I would love to see it simplified before I retire in 18 years.

[Tybee]

I took that test dado linked and it said 85. But I plan for into my nineties as my mom is already 91 and still healthy.

I think I figure 30 more years, and after that, the kids will have to help out.
I would like to leave money to the kids and grandkids, as well as church and scholarship.