One of the unknown variables that needs to be estimate when formulated any plans for retirement funding is "how long will you live"? Although I think outliving your funds is less of a problem than dying before you reach retirement age, it is still good to have some idea of how long your retirement is likely to last. After reading a post on this topic by My Wealth Builder I plugged my current situation into the life expectancy calculator and got back an answer of 83 years. Not too bad for a male, but largely due to having grandparents who lived to 94, not smoking and being in fairly good health. If I change my answer to include regular aerobic exercise, losing my excess weight (the only one of my 2007 goals that is way behind target so far this year!), and being a "happy" person I can improve this figure to 92 years of age... Time to break out the tracksuit and take fruit to lunch for snacks.
Copyright Enough Wealth 2007