• deconstruct@lemm.ee
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    1 year ago

    It’s not just about the years spent in retirement, but what you’re doing. This is something I heard from a financial advisor - Retirement happens in phases.

    Go-go phase. Years spent in relatively good health. Add extra budget for travel or big-ticket items to enjoy, like an RV.

    Slow-go phase. Staying close to home, maybe spending time with grandkids. Increased medical bills.

    No-go phase. No travel, but largest medical bills.

  • zzzzzz@lemmy.ml
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    1 year ago

    I gave up after looking for a clear answer after a few minutes. They really buried the lead.

    • cheesebourgeois [none/use name]@hexbear.net
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      1 year ago

      on average in the u.s. a 65 year old man will live to 84 and a 65 year old woman will live to 87

      the likelihood of making it to at least 90 are 30% for men and 40% for women

      the likelihood of not living beyond 70 is 5-10% for men and <5% for women

      there now we’re all longevity literate

      • zzzzzz@lemmy.ml
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        1 year ago

        According to the article linked by @JWBananas, lead is correct. Printers changed it to lede in order to avoid confusion with another tool called a lead in the printing context.

  • OpticalMoose@discuss.tchncs.de
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    1 year ago

    One thing nobody points out is that those last 5+ years of your life, your health will probably be failing, physically and maybe mentally. If someone has to take over your finances and they aren’t financially literate, your money will run out a lot sooner.

    I’m not talking about someone stealing your money(which does happen), but someone who means well, but just makes bad decisions. There’s no easy fix for it, but a living will helps.

  • Deftdrummer@lemmy.world
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    1 year ago

    Who would have thought determining the retirement savings necessary would just be predicting your own death?

    Stupid article and survey if you ask me.

    • Blaze@discuss.tchncs.deOP
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      1 year ago

      Not rocket science for sure.

      I was just looking for some content to keep this community active.

      As always, PF is usually about people asking for advice, in the meantime we are stuck with this kind of articles.

      Feel free to share any interesting article if you have any

      • sugar_in_your_tea@sh.itjust.works
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        1 year ago

        Nah, age has nothing to do with it. It’s merely someone who has stopped working because they no longer need an income to support themselves for the rest of their life.

      • Frozengyro@lemmy.world
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        1 year ago

        I would say someone who stopped working for their primary income. Some folks still work for the social aspect or to live a bit comfier. Typically I think those folks do far fewer hours though.