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A little bit in the same vein, I'm a big fan of the "rich, broke, or dead" retirement calculator - in addition to telling you the odds your money will run out b
by magneticnorth 5y ago
A little bit in the same vein, I'm a big fan of the "rich, broke, or dead" retirement calculator - in addition to telling you the odds your money will run out by age X, it includes the odds you'll be dead by then. I feel like it helps me put my retirement savings in a bit better perspective, as someone who also doesn't want to work in a corporate job until I die.
https://engaging-data.com/will-money-last-retire-early/ https://engaging-data.com/will-money-last-retire-early/
An important caveat: the probabilities are based on historical back-testing, and the degree to which the past accurately predicts the future is difficult to estimate.
- sokoloff 5y agoHow can I get the grey wedge to be smaller on that chart?
- oaktrout 5y agoIf you are asking about increasing longevity, it's mostly about taking care of yourself (rather than some magic pill or supplement). Don't smoke, exercise, maintain a healthy weight, get the recommended cancer screenings (e.g. mammograms and colonoscopies), find a reason to live (communities, family, purpose).
- magneticnorth 5y agoIf that's a UI question, you can choose "healthy nonsmoker" in the mortality table drop-down, or uncheck "death" to remove it entirely and get a more-standard retirement calculator that assumes you're living at whatever age you calculate out to. If you mean you want to decrease your odds of death, then "healthy nonsmoker" is also a good start, and there's a very deep rabbit-hole you can go into on longevity research, though no real option to uncheck "death" yet.
- omgwtfbyobbq 5y agoThank you for that link. It validates my hunch that holding mostly equities and reducing spending during lean times can be better than holding equities/bonds and maintaining spending.