rakendzior
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- Thread starter rakendzior
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James48843
TSP Talk Royalty
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Here is another "life expectancy calculator". It is based on some actual lifespan data.
https://www.projectbiglife.ca/life-expectancy-calculator
It says I better hurry up and retire, so I can use some of that TSP money before I go.
i've done several of these types of calculators- some from Insurance companies (who have actuarial data tables to make themselves a profit) and some from banks, or from loan companies.
They all pretty much say anywhere from age 60 to age 72. (I'm a fat guy who doesn't exercise).
So I better hurry up and retire, and start spending that cash while I can.
(That one says 71. I'm 59 now).
evilanne
Market Veteran
- Reaction score
- 117
According to the calculator James48843 posted, it says my life expectancy is 85, but I'm planning for triple digits.
IRS Life Expectancy Tables go to 115+ https://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf
Using TSP Payment Calculator with current age 56, single, $600K and 6% RoR (for example purposes only), it looks like monthly payments peak at age 95 and decline from there. At age 108 the balance drops below $100K and at 111 your payments drops below the original payment. https://www.tsp.gov/PlanningTools/C...Dependent=No&dependent=Spouse&dependentAge=23 Select the combined view showing chart and table.
Looks like 110 is a good target
You can change to fit your particular situation.
alevin
Market Veteran
- Reaction score
- 97
According to the calculator James48843 posted, it says my life expectancy is 85, but I'm planning for triple digits.
IRS Life Expectancy Tables go to 115+ https://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf
Using TSP Payment Calculator with current age 56, single, $600K and 6% RoR (for example purposes only), it looks like monthly payments peak at age 95 and decline from there. At age 108 the balance drops below $100K and at 111 your payments drops below the original payment. https://www.tsp.gov/PlanningTools/C...Dependent=No&dependent=Spouse&dependentAge=23 Select the combined view showing chart and table.
Looks like 110 is a good target You can change to fit your particular situation.
3 of 4 grandparents made it into their 90s, a great grandmother also. One of them even made it to 105. Parents and their siblings in their mid-80s. I'd rather plan conservatively so as to not run out. 105 it is, though I don't realistically think that is in my future. If I go sooner, there may be something left to pass on to the next generation.
Wow sounds like you have good genes! Good to plan long-term! My family has a wide range of ages of death. Men usually die in their sixties. Women usually live up into their nineties. Good luck with your planning!
James48843
TSP Talk Royalty
- Reaction score
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Note to all: even though “my” particular reading on that calculator says “Age 71”- you all know I am a bit on the wild and care free side- I would also note that I ran another calculator run by an insurance company, and that one said I was going to be dead within 12 months! HA! WTF do they know???
I plan to be kicking for quite a while longer. But I DO know that I am NOT going to be extra frugal when it comes tine to start spending this nest egg I have been working on for 30 years. I’m going to do it up with a bang.
Anybody want to join me this coming summer for a couple of weeks cruising on a nice 42’ sailboat in the Caribbean? Or perhaps later in the year around southern France, Spain and Portugal?
I am thinking of making a few two-week long adventures for two other couples- to have some retirement adventure. Anybody seriously interested?
No details yet- I’m just tossing this out there for discussion.
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James48843
TSP Talk Royalty
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Oh, and HERE is the Life Span Calculator, from an insurance company, that says I have a very short time left before I kick the bucket:
https://media.nmfn.com/tnetwork/lifespan/#0
I’m betting I’m going to leave that one in the dust.
Ashes to ashes, dust to dust- I’m going to outlive that insurance company prediction. I must!
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PessOptimist
Market Veteran
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I have been playing with calculators recently to see if I or wife will run out of money. Secure act if it becomes reality won’t change much for me. TSP will last until I am 92 at current withdrawal rate. May adjust that at 70 when I start getting full SS. May adjust it sooner. May not. Your latest calculator says I will die at 84. IRS says later?
30 years working? Hah, how about 50+. Either way, spend the nest egg. Enjoy!
About your cruise. Is this a vessel you own or would it be a rental? Is it a motorsailor? Does it have a generator/inverter? Would there be a regular crew on the boat or would it be the voyagers? Just asking. Sounds like fun.
PO
James48843
TSP Talk Royalty
- Reaction score
- 599
1. It would be a sailboat I buy.
2. Motor sailor? Well, I prefer to sail, they all have motors. If you need a motor, you’re not sailing in the places where the wind blows free!
3. It will power, whether it be from wind, solar cells, or a generator. In any case, enough power to charge computers and cell phones, and run navigation instruments. Don’t plan on bringing a hair dryer, however. That’s too much juice.
4. Just the voyagers. That’s half the adventure!
I’m not sure yet how and where, but it does sound like an adventure, does it not?
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Did you say you were already past your life expectancy?
I better pass. :laugh:
But thanks for the kind offer!
James48843
TSP Talk Royalty
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James48843 liked this post
Emotions should never play a role in one's investing strategy!
No to Greed...No to Fear!
Robinhood - Referral
Dannyboy, would like to know this. I went into the link for robinhood but it was clearly specified which part deals with age ?
My father is 100 years old, and I want to be in the history books?
Db
James48843
TSP Talk Royalty
- Reaction score
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By the way , I use a neat “Countdown” application on my iPhone. I plugged in my birthday, and am counting down to my retirement date at Age 60. I also plugged in Age 67, date of full Social Security. If you’d like it, it’s on the App Store under the name “Countdown from timeanddate.com” and it’s free. Here are two screen shots: first is what it presents:
Next is what it looks like in the App Store:
Have fun.
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