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there is no such thing as average life expecatncy in the real world. you are either dead or you aren't. there are only two real world possibilities in your life.
Yes, there is an average. Each individual may deviate from it, but there's still an average, as with height, weight, etc.
in theory but in practice as i said there are really only two outcomes you can have personally. things worked out or they didn't.
Yes but the actuarial life table tells you how likely it is in the future you'll make it. Yes either you will or you won't , but you don't know which is the case and the odds tell you what to expect.
not really, when you really think about it they really don't. it is like life insurance companies can tell us how many people are going to die in any given year. but since they can't tell us who the statistic becomes rather useless.
i plan for age 95 regardless ,,not some average age a table shows as who knows if you are the average one.. so in reality average does nothing for you nor helps you plan. you still need to plan for worst case scenerio and plan around making it to some ripe old age regardless..
not really, when you really think about it they really don't. it is like life insurance companies can tell us how many people are going to die in any given year. but since they can't tell us who the statistic becomes rather useless.
i plan for age 95 regardless ,not some average as who knows if you are average. so in reality average does nothing for you
We can start a philosophy of probability thread in the philosophy forum if you'd like...
not really, when you really think about it they really don't. it is like life insurance companies can tell us how many people are going to die in any given year. but since they can't tell us who the statistic becomes rather useless.
i plan for age 95 regardless ,,not some average age a table shows as who knows if you are the average one.. so in reality average does nothing for you nor helps you plan. you still need to plan for worst case scenerio and plan around making it to some ripe old age.
I plan for 95 also, but also plan for my wife and to leave something behind for my heirs.
I hope to continue to manage wisely in the future and set things up so my wife doesn't have to worry. She doesn't have a clue about finances except when I want to buy something as was previously mentioned. HaHaHa...Life is good.
I plan for 95 also, but also plan for my wife and to leave something behind for my heirs.
I hope to continue to manage wisely in the future and set things up so my wife doesn't have to worry. She doesn't have a clue about finances except when I want to buy something as was previously mentioned. HaHaHa...Life is good.
You should take the time to teach your wife about the finances and talk about it often. You dying next month could be disasterous for her and I see it all the time most often with wives but sometimes husbands
I'm wondering about the flip side. How much is too much savings? I think I may be over saving for retirement while sacrificing enjoyment of at least some of this money now. And these savings do not include expected defined benefit pension and social security income during retirement (I have at least 15 years to go before I retire). Is it time to spend a couple thousand on a financial planner to help me sort it all out?
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