The more complicated it gets, the less inclination to do anything

How much money will I need, will I run out of money, what will I spend in retirement? Good questions that only you can answer.

Do we need to make it more complicated trying to figure out how long we will live? Just aim for the old standby 95 and hope for the best.

None of this matters unless you save the maximum possible, are prudent with your debt and invest for the long term and in the process take advantage of each market dip. If you do all that there is not much else you can do.

No one knows how long they will live or how healthy they will be, which makes re­tire-ment plan­ning tricky. But a grow­ing num­ber of on­line tools and ser­vices are aim­ing to help peo­ple ob­tain per­son­al­ized life­span es­ti­mates for fi­nan­cial plan­ning.

A Big Question in Retirement Planning: How Long Will I Live?

2 comments

  1. How true! When I see the line in the morning waiting at Dunkin or Starbucks I am amazed. My neighbor or her son (who does not work) goes out each morning and comes back with 3 huge coffees from the local coffee shop. Life is good.

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  2. The biggest factor in how well you will do in retirement is getting spending under control way before you retire. I retired at 50, because money alone has never been much of a driver to get me to show up for work. In my life I have never owned more than one car at a time, my wife never worked outside the home, because child care costs would mean she was working for less than half pay. I have not had a car payment since 1986, but now retired and tired of working on my too expensive to fix 2006 VW., I will be buying a brand new $35,000 car, sometime within the next 8 months with a $15,000 down payment. I never made more than $25,000 per year from 1971 to 2006. Eight of those years were zero, so with low income all my life I know how to keep spending under control. Now with $37,104 in retirement income per year, I am saving $1,326 per month. No cell phone, no cable TV, saving me $1,600 per year. if I do not need it I do not buy it.. I ask everyone to look around their home and think of all the stuff you already have, do you really need any more stuff. Most of the time it is the 1 to 20 dollar purchases in life that add up to some real money, do not do it.

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