[USER]

I was thinking 84-85.

I look forward to every information, advice, suggestion.

[Paige]

My great grandma lived until she was 99. My family on that side has a history of reaching 100 years or more. Unfortunately, the other side of my family has a track record of dying in their 60’s/70’s. I’m planning for at least 30 years after retirement.

If I kick it before then, my sister’s kids can have my money.

[Sameer]

25 years, 4% rule.

[Sam]

30 years imo…consider a longevity quiz..mine says age 86 fairly consistently…..planners would say 90, 95 but I think they’re too conservative.

[Nicholas]

Many financial advisors do use 100 as your top end for planning purposes. Somehow this makes some feel good about the amount of time they have left.

However, given average life expectancies being around 20 years younger depending upon the study and other factors, not having a realistic number here could keep folks working far longer than is needed.

I think the 100 number is partially used by financial advisors to keep their clients from retiring in order to keep their own cash flow coming in steady for fees. I also want to believe I will live until the ripe old age of 95 or 100. Sadly the odds do not favor that.

I only raise this topic for those who might be wondering if they need to work that much longer to cover those final projected years to 100 when likely they do not.

Don’t miss: Looking into semi retirement – What are some things I need to consider?

[Frank]

The difference after 30 years becomes minimum, so there is no mathematical reason to run your simulation or budget beyond 30 years.

[Juliett]

How long do you plan to live?

Plan like you’ll live to be 110. And that should cover you for any unforeseen hiccups. Better to have more than not enough.

[Jeremy]

My goal is to live off of little enough in retirement, and have enough retirement money, that the interest on my retirement account out paces my spending and inflation.

That way it doesn’t matter if retirement is two weeks, or 50 years, because (on average) the amount in my account will still be going up!

[Sarah]

My husband and I are planning for 40 years. I’m 48 and he’s 54.

We have already reached FI, and we’ll start drawing from our retirement money within the next 5 years.

[Anne]

There are life calculators but I generally look at my family members and I’ll probably live to my 90s unless I fall off a mountain or be eaten by crocodiles swimming in rivers in Belize.

[Luis]

Buy investment that’ll pay you until you die.

[Justin]

All of them if you plan on retiring early. You can base your drawn down strategy loosely off the 4% rule which theoretically will continue to grow your money in perpetuity.

Don’t forget to take a look at: It seems better to buy a new house and take out a mortgage before retirement (which will never be fully repaid)

[Steve]

On the calculators, I generally plug in 40 years to be safe. I’m 56. Doubt I’ll live that long but my wife might, based on our family histories.

I’m not “retired” but most would say I’m at “FI.” I’ll never “RE.” It’s just not in me.

[Luis]

My grandparents all lasted til their mid 90s (including my grandpa who smoked 2 packs a day & grandma getting all that 2nd hand smoke)…great grandma lived til 102. I budgeted for 50-60 yrs

[Colin]

Hard to make sense of what exactly this question is asking. Retiring means you know your annual expenses and have enough money invested to cover your annual expenses indefinitely. So how many years is that? Depends on when you retire and how many more years you live.

But in general when you retire you should have 25x your annual expenses saved and invested. That way you can pull 4% out annually and never run out of money.

So, if you need $40k annually to live you need to have $1 million. Search up FIRE number for more info on this.

You can check also: I’m seriously considering pausing all retirement contributions for a year to save up – What are your thoughts?

[Nicholas]

According to the actuarial tables on the Social Security website, men have a .48% chance (less than half a percent) of making it to the age of 100 while women have a 1.66% chance of doing so provided they do not smoke and are not overweight.

These are the odds that most financial advisors are planning for, while somehow an 80% overall chance of the fiscal resources you have carrying you through retirement is considered acceptable by many.

It is just information to consider. Even a slight tweak down to the age of 90 would significantly cut down how much you need for retirement and increase the odds for most and still be reasonable.

The odds of living to 90 are not great either incidentally according to the actuarial tables.

While I am also a super saver, it does feel like the system is designed to keep everyone working for as long as possible with scare tactics and figures built in. Case in point, and likely a bad example, but Suzie Orman now says you should not retire without 10 million.

[Author]

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