The (other) Number

bostonerimus

The 4% rule drops out of there being a 95% chance that your money will last 30 years. If there's a significant chance that you'll live longer than that then you need to adjust your withdrawal accordingly....or maybe buy an annuity.

I would set the longevity used in any planning to at least the 95% level....so a 10% chance of living longer than my plan would be too much for me...If we believe the ONS statistics 100 is looking more and more like the number

sevenhills

victoria61 wrote: »

This might help

https://www.death-clock.org/:rotfl::rotfl:

Not sure if its a wind-up or if I entered the wrong details; I have only got 10 years left.


I best start spending :T

Zorillo

I'm planning to offer my offspring the chance to underwrite my retirement, they get what's left on the understanding they're prepared to bail me out if drawdown goes wrong, otherwise I'll buy an annuity to spite them.

kuratowski

For the purpose of long-term planning i.e. to check whether I am saving enough now, I assume 100. But I think when it comes to retirement, I would be likely to take an annuity, at least in part, assuming the market still exists by then.

Edit: Based on the death-clock link, I will die at 67, not even reaching retirement age then ;-)

westv

victoria61 wrote: »

This might help

https://www.death-clock.org/:rotfl::rotfl:

28/11/48 for me apparently.

JoeEngland

My spreadsheet goes till I'm 90, and DW is 4 years younger. We both have small DB pensions and should get full SP. I've planned on drawdown reducing in later years and have some contingency. It's a difficult balance between retiring early and risking DC & savings running out or retiring later for stronger finances and having less time to enjoy it, or worst case popping your clogs before retirement. The one thing you're guaranteed to run out of is life.

MallyGirl

This is a tricky one. Mum & Dad were 18 and 20 when they had me and are still going strong so I can't use them to model from. I fully expect them to be around when I retire (at 60 at the latest).
My spreadsheet runs to 100 but the ISAs run out at 93 so income might drop after that (depending on market conditions).

crv1963

Age 72 on 9 January 2036 for me according to the clock! Maybe I need to retire today!!

[Deleted User]

It gave me 89 years and I month (1st June 2050) so I'm pretty pleased with that considering no-one in the last few generations of my family has ever survived to 80! :j:beer:

Sea_Shell

Death clock has me expiring at 76...better get spending!!