<p>Vlad…Some really good stuff is happening to prolong life. </p>
<p>Your generation has a good shot to live into the 90’s. Maybe100? Or more?</p>
<p>If you listen to Ray Kurzweil… You are going to live a very very long time! </p>
<p>I was long geron as a speculation because the company thought they found the fountain of youth. Did not happen. I adjusted my retirement calculators accordingly. :)</p>
<p>As for us older folks… Someday it is just going to be himom and me left. :)</p>
<p>The problem I have with calculators is that they ask you when you will die, what is the expected inflation/return on investment. If I knew that I can do the math. I wish they put in the best estomate from their data bank. I put in 2-4% inflation 5-10% return on investment, 80-100 years old when I die, and it gives a rough range. </p>
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<p>Love that! I am in that camp. Once basic needs are met, my spending will be discretionary. If I have money I can spend if not I do fine without, too. Don’t plan to sweat.</p>
<p>My dad is turning 90 this year and still lives a full & active life, including golfing about 3-4x/week, working “full time,” serving on a bank BODirectors, and doing pretty much what he wants to. I believe he will probably be around another two decades or so, like his uncle. Mom is turning 85 an also going strong. </p>
<p>Am glad that we will have H’s pension for his lifetime & at a 55% with COLA for my lifetime. At some point, I may also be able to collect SS, but am not holding my breath. Am glad we are financially comfortable and should be barring some horrendous catastrophe.</p>
<p>Himom, I guess you will the last poster of our generation standing. :)</p>
<p>Hmmm, I’m not positive I’ll be the only one. It’s odd to have genes on my side but a severe chronic medical condition that says I was supposed to need a lung transplant over 14 years ago but now I’m too healthy to even be a candidate!?!?! Life is weird, but I sure do want to stick around awhile and meet the people important in our kids’ lives and maybe any family they decide they want to start. </p>
<p>Am glad that retirement wasn’t the financial hardship we had envisioned. So glad for that and relieved. I hope to gift some money to our loved ones while we are alive as well as leaving a nice estate that will help our loved ones remain comfortable. ALL of my minuscule income goes to my non-deductible IRA and is converted to a Roth IRA, just to be sure we will have enough (savings is quite a habit around here).</p>
<p>Don’t forget, as you are planning for your retirement, that at some point you are supposed to start spending that money you’ve spent your lifetime saving. Keep telling yourself that. When you are older it’s hard to learn new things, and one new thing FIL never learned, and now never will, is how to spend his savings.</p>
<p>FIL is 85, and refuses to pay for household help and home health aides that he and MIL desperately need. It’s clear to anyone that they need help, and we’re pretty sure they have more than enough savings to cover their needs, but FIL just can’t pull the trigger. It’s been save, save, save his whole life, and he can’t face spending - the total might go down. If they leave a big estate I’m going to be really ticked off, because nobody should live the way they are living now.</p>
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<p>That is my kind of retirement! </p>
<p>I ran dstark’s calc link and got a number that is ~ 7x current income. I am running assumptions to age 85, which is likely going to be longer than either of us are around – me, because I already have two serious strikes against me, and DH, because he takes lousy care of himself.</p>
<p>MomofJandL, my dad is the same way. He’s penny-wise, pound foolish and never got help to come in for my mom. So, at 76 years old, he was doing all her nursing and personal care (she was totally bedridden for 10 years). He expects we will do the same for him.</p>
<p>I can see DH not wanting to spend down, too. He is very uncooperative about getting household/yard help now, despite my medical issues. This will come to a head soon, as S2 graduates and there is noone around to cut the grass. (DH works 70 hours a week and is too busy to do so.) In the past couple years, I have started doing things I would have normally saved for retirement because who knows how long I’ll be here. </p>
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<p>How true !!
I’ve never done any retirement calculations on my own but I’ve made a few good investments. I gave my brokerage rep an amount I want to spend each year (more than our current earned income) and he told me I’m OK till 95 or longer with quite a bit left but I doubt my H and I would live that long.
My mother died at 56 and I always remember that she told me that any money that wasn’t spent is just like we’ve never owned it.</p>
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<p>I have been quietly following this thread with interest. This one made me stop to post. This has nothing to do with money and everything to do with setting up a future so we will be happy. It’s an easy read…</p>
<p>Stumbling on Happiness - By Daniel Gilbert</p>
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<p><a href=“Dan Gilbert: The surprising science of happiness | TED Talk”>http://www.ted.com/talks/dan_gilbert_asks_why_are_we_happy</a></p>
<p>Okay…back to the calculators…</p>
<p>Dietz199,</p>
<p>Remember the talk when you are buying an ACA plan. ;)</p>
<p>I took a day off today and practiced retirement.</p>
<p>
10:00 - Sleep in.
10:00-12:00 - Wander around the house. Open every cabinet and the fridge 3 times, looking for something to eat. Get yelled at for banging the cabinets.
12:00 - Make lunch
12:10 - Get yelled at for making a mess.
12:30 - 3:00 - Go to the gym. Talk to my workout buddies. Do three sets in 2 hours. Walk on the treadmill for 15 minutes.
3:00 - 4:30 - Take a nap
4:30 - Yell to wife across the house, “when’s dinner?” Get the same answer I get every day.
4:30 - 6:00 - Waste time on the internet. Check in at CC.
6:00 - Help make dinner
6:10 - Get yelled at that I’m not doing it right.
7:00 - 8:00 - Debate if we want to rent a movie, decide there’s no good ones out
8:00 - 11:00 - Watch the game while wife watches a “Christmas in July” movie in the other room on the Hallmark channel
11:00 - go to bed.</p>
<p>:P </p>
<p>Lol!!!</p>
<p>notrichenough, you guys need to treat each other better. Too much yelling going on.</p>
<p>Drink more wine. Do something fun together.</p>
<p>Dietz – loved the TED talk. Thanks for the link!</p>
<p>Yes, dstark… life expectancy is a big factor/unknown. For folks with large annuity pension payments (alas, not us)… it is less of a factor. </p>
<p>Simplistic like “10x salary” do encourage families to save But so much much depends upon the pension (or no pension) situation. That’s what got me thinking more on formulas. Of course DH has been thinking on this a long time and spreadsheeting projections. I’m just trying to learn more to be a sanity checker. </p>
<p>Colorado mom, there are a lot of unknowns…and we are different. We have different situations. Different wants. Different needs. Different expectations. Different psychology.</p>
<p>I cant remember which financial company runs the ad where people roll out ribbons of different lengths to represent what they need in retirement. I guess that is a bad ad because I can’t remember the company. :)</p>
<p>That $500,000 ribbon is not working for me. :)</p>
<p>It is funny…posters start out coming here to CC to talk about colleges. A few years goes by and the same posters end up talking about retirement. :)</p>
<p>I cant remember where my kids went to college. Seemed important at the time. :)</p>
<p>Himom, is the lung transplant off the table forever?</p>
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<p>Or, some of them are old f@rts who are here to discuss both topics. </p>
<p>IxneyBob, lol!</p>
<p>“dstark wrote:
A few years goes by”</p>
<p>That is poor grammar. Unacceptable on the CC site. :)</p>
<p>Whoever posted that there are 1000 posts in this thread but can’t understand 900 of them must know we are very close to retirement, we are rambling on. Sometimes, it makes sense of what we rambling on and sometimes not. What do you expect from a lot of to be retirees? There is a reason why we want to retire in the first place.</p>