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Average life expectancy in US is 78~, if you're 65 today, 85~

I don't prefer it for various reasons, but I let my mom go on vacations with us so she can spend time with her grandchildren. They don't have much exciting stuff going on as you can imagine.

I don't want to look back at it and realize I was being a selfish a-hole. Who's with me?
 
Was talking recently to my cousin. She is past 80, while I'm past 60. During the conversation, I said that I'm no spring chicken. She responded that I'm just a kid. My retort was that I'm in the 3rd trimester of life. She asked, are you pregnant? It's good to keep a sense of humor about things.
 
Yeah I'm in the same situation it's a bit difficult, but you enjoy what you have.

That being said, 85 is waaaaay too long for my calculated retirement savings. Hopefully VR will be better by then.
 
vhyfxm.jpg
 
You just have to live long enough for the singularity. There are actually a handful of life extension research going on. Guess it depends on which one has the breakthrough first.
 
I had no idea average life expectancy had gotten so high. Based on my mid-60s parents' health and genetics I had figured they likely had quite a bit of gas left in the tank, but it seems 90 is reasonable for my dad and 95+ easily for my mom. 😱
 
Here's something interesting that kinda relates -

'This contrasts for example with men and women in the US, where the height of the nation's people started to plateau in the 1960s and 1970s. Over the century, they have seen increases of just 6cm and 5cm (a couple of inches), respectively.
Indeed, Americans have tumbled down the rankings. Back in 1914, they had the third tallest men and fourth tallest women on the planet. Today they are in 37th and 42nd place.'

http://www.bbc.com/news/science-environment-36888541
 
Do it fellas. I did not do enough with my dad, and then he was gone. Mom and I did do some fun stuff. We took her to Mazatlan and she went horseback riding on the beach while we were swimming. She had not been on a horse in decades, it was very spur of the moment. Very fond memory.
 
We take my mom, my mother in law or both of them with us when taking the kids to Disney World (DVC members) and they seem to enjoy it. We provide the resort and they just get tickets, or we get them if needed. They enjoy spending time with the grandkids. They also will watch them for a night or two while we are there so we can do something, which is nice.

We are on the verge of building a house. I told my daughter today that I am starting the last chapter of my life. She asked what that meant. I told her that I have a great wife, great kids, really like my job and about to start building our dream house. I'm done. The only thing left now is to pay off bills and enjoy myself with my family.
 
I don't know why people start wrapping it up in their 50s. I want to be in business in my 50s and on. Doing something that I love. I look at it like this. When you're 50, with today's technology you could possibly live another 50 years. 50 years doing what you love. That's a big deal to me.

F' wrapping it up at 50. Why not start it up?
 
Yakk said:
Yeah I'm in the same situation it's a bit difficult, but you enjoy what you have.

That being said, 85 is waaaaay too long for my calculated retirement savings. Hopefully VR will be better by then.
Click to expand...

IMO, you should have at least 1 million dollars packed away for retirement.

Always do the math.
 
Mai72 said:
IMO, you should have at least 1 million dollars packed away for retirement.

Always do the math.
Click to expand...


The math is not hard. $1,000,000 / 20 years (85-65) = $50,000

If everything is net. $50,000 is ok-ish retired but nothing to get too excited about. Depending on where you live, should aim for at least double that IMHO.
 
JTsyo said:
You just have to live long enough for the singularity. There are actually a handful of life extension research going on. Guess it depends on which one has the breakthrough first.
Click to expand...

Bah... with my luck they would plug my brain into the server with a bad power redundant supply, plugged into a UPS system with a bad battery, which was plugged into a backup generator that's out of Diesel 🙂

Oh, and nobody bothered to check that the backup script was running.
 
I feel you on this. My Dad is 78 and has had a few bumps in the road due to some early childhood illnesses that caused some heart damage early on.

This summer, while my wife took the kids to the beach with her family, I spent 4 days just hanging with my Dad. We went to a baseball game. Brook some rides up in the mountains, fixed a bunch of stuff around their house.

Definitely makes me sad though. We live our West and they still live on the East Coast, so the time we spend with them is limited.

My mom is 75...but she is healthier than most 50 year olds. I'm only 38...but I get I'm thinking my mom might outlive me.
 
Yakk said:
The math is not hard. $1,000,000 / 20 years (85-65) = $50,000

If everything is net. $50,000 is ok-ish retired but nothing to get too excited about. Depending on where you live, should aim for at least double that IMHO.
Click to expand...
You should plan for at least 5 years past your expected end of life. Thus, you want something closer to 25 years of planning. Many people recommend planning on living to 95 when you start retirement and then adjusting as your situation progresses. With today's retirement age of 66, that would be 29 years of life to plan for.

Using your simple math, and 25 years, that gives you $40,000 to spend each year. But, add in social security which averages $16,000 and you get to a more livable $56,000.

But, you really should have other income available. With $1M invested and a 25 to 30 year timeframe, you should be mostly still in stocks. If you invest conservatively you can expect maybe a 4% return. So, each year, your $1M will get you $40,000 but you spend $40,000 of it (plus $16,000 of social security), and you are back to $1M next year.

Then your only worry is inflation.

I do agree with you that having twice that is a much better goal if you can do so.
 
Yakk said:
The math is not hard. $1,000,000 / 20 years (85-65) = $50,000

If everything is net. $50,000 is ok-ish retired but nothing to get too excited about. Depending on where you live, should aim for at least double that IMHO.
Click to expand...

Don't forget inflation. I'm in my 30s now, and will retire in another 30 years.

30 years ago in 1986, today's $1 is worth equivalent to 46 cents. Going by this, the same $1 today will spend like 50 cents in 2046.

If you have only $1 million dollars for retirement by 2046, that's not good. That $50,000 annuity will spend like $25,000 today.

That's really small.
 
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