Running Out Of Money

[JJReyes]

The biggest risk that retirees face is running out of money before they run out of life. You turn 65 and the government says life expectancy is another 20 years. Add 5 more as insurance. So how do your organize your finances to last 25 years until your 90th birthday? I certainly hope you are not one of those expecting to live to age 100. 

 

[Tukaram (Tim)]

I don't expect to live that long.  But both my retirements will pay for life.  So they just hope I don't live too long.    :tiphat:

[Dave Hounddriver]

I certainly hope you are not one of those expecting to live to age 100. 

 

Thats why we marry young wives so they are still able to work and support us in our dotage.   :hystery:

[Old55]

I don't expect to live that long.  But both my retirements will pay for life.  So they just hope I don't live too long.    :tiphat:

I also have two retirements that I hope to use very soon. One is from the US federal government another from a large successful US corporation.

There are no guarantees in life. Will one live long enough? Do we know if the retirement be able to provide when that time comes? One must have other income options in place.

[Thomas]

I don't expect to live that long.  But both my retirements will pay for life.  So they just hope I don't live too long.    :tiphat:

Same for me. No limit.

Almost all comes from Swedish government and I don't expect them to go bankruptcy  :)   but BIG risk the amounts will not cover the inflation.

 

I certainly hope you are not one of those expecting to live to age 100. 

 

Thats why we marry young wives so they are still able to work and support us in our dotage.   :hystery:

I expect to become around 90, if my injury recover enough so I can exersise so I get back my very good stamina.

 

--

Yes. I will try to startup a profitable business,

introduce my wife step by step

working less and less myself when she switch more and more to working in it when kids get older,

and let her (or kids) take care of the business when I retire fully - late, perhaps never fully  :mocking:

[i am bob]

I currently have my Armed Forces pension as my main source of finances.  It will always be there and will increase with the cost of living (yeah, right).  Once I reach the magic age, I can also get my Canada Pension but that amount gets clawed back from my military pension.  Still, I will have the bucks to live on to any age - I just might have to adjust what I spend my money on.  And, as we speak / write / read / sleep through this post, I am also building my business that will keep me in financial straights while I am living in the Philippines.  Like my ole mama said...  "If you ain't got a backup plan, get out of my house!"

 

:mocking:

[bows00]

I am working on marrying a rich 89 year old widow and live off her inheritance when I reach 56.  The only major problem I foresee are the weekly intimate duties I will be required to perform - one possible solution is to drink lots of alcohal with Cilalis and leave my glasses off... 

[Medic Mike]

 

The biggest risk that retirees face is running out of money before they run out of life. You turn 65 and the government says life expectancy is another 20 years. Add 5 more as insurance. So how do your organize your finances to last 25 years until your 90th birthday? I certainly hope you are not one of those expecting to live to age 100. 

 

My plan is to keep investing in my little Sari Sari store. So far so good it is improving every week. Have added a pesoPhone and a pesoComputer which has improved revenue.

[Paul_QLD]

Pardon my ignorance and such a basic question, but guessing pesosPhone and pesosComputer is like a payphone and pay per use PC with internet connection that is used via a coin slot, or do customers pay at the counter for a certain amount of time?

Where is your SariSari store located ....

[Tukaram (Tim)]

Not sure how Mike runs his computers but the most common I have used here is just they turn on and off the computer for you and bill you for the time - generally p40 an hour.  One place I went they had the computer on but you had to deposit p4 to turn on the monitor.  I forget how much time the p4 got you.