What age to plan living to

kidmugsy

Malthusian wrote: »

Almost evens. It's not difficult to work out from the ONS mortality tables. Assuming a 75 year old male and 73 year old female, and ignoring the fact that having your partner die decreases your life expectancy, there's a 24% chance that the man will live past 90, and a 33% chance the woman will. The chances that at least one of them will reach 90 are 1 - ((1 - 0.24) * (1 - 0.33)) = 49%..

Thanks. I wonder whether a post-hoc study of outcomes would reveal some consequences of assortative mating (if I've got the jargon right) i.e. a tendency for men who (unknowingly) are likely to live longer than average marrying women ditto. There must be final year undergraduate project in that. Or maybe actuaries already know all about it - it would be hard to cost the liabilities of DB pension schemes without such info.

bostonerimus

kidmugsy wrote: »

Is there a good source for the life expectancy and related statistics for the survivor of a couple? After all, many of us are as worried for our spouses as for ourselves.

If you take a couple of, say, 75 and 73, what is the probability that one of them will live past 90? (We could assume average health for their age and no family histories of unusually long or short lives.) I realise that the question is much more complicated than the probability of a single individual surviving, but it may well be more important too. And yet I've never seen it discussed.

Just look here and you can download all the data

https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/lifeexpectancies/bulletins/nationallifetablesunitedkingdom/previousReleases

If you know the probabilities of the man and woman living past 90 ie Pm and Pw then the probability
of one of them living past 90 is

P(one >90) = 1 - ((1-Pw) * (1-Pm))

the probability that both will live past 90 is

P(both>90) = Pw * Pm

sleepymans

Theres darn things don't measure quality of life. Whats the point of being alive if you can see, hear, be tpainfree, are alone, feel ill, in constant pain.I dint think many of us baby boomer generation will actually let nature take its course if we find existence intolerable.

sleepymans

Me....Im going at 68....2.5 years to go

JoeEngland

sleepymans wrote: »

Me....Im going at 68....2.5 years to go

After reading your previous post I hope "going" means retiring and not something else!

bostonerimus

If you retire in your mid 60s, and you are healthy, you should plan on at least a 30 year retirement and make sure your money will last that long.