Another factor to consider when planning for FIRE

[helloyou]

I found a tool to plan for FI.
https://fatefulday.eu/

I got 25 years to live. Let say I'm lucky and have 30 years more.

Why try to plan to live forever when you can plan more accurately?

Knowing this I can now plan carefully to have enough money to live comfortably every year until my death. 😎


Ps: its a sort of joke post, but life is short so its somehow a useful tool to consider. You don't want to work until you die!

[deborah]

This is a very pessimistic lifetime calculator. Every other one I’ve tried gives the people I’ve put in a lot longer to live.

[happy]

Yes it is pessimistic. Firstly though, it's European - life expectancy may be lower.. Secondly it doesn't ask about long living family members which  is the strongest predictor of an above average life expectancy. You might think its funny, but I have taken life expectancy into account in my planning.

[realG]

Yes it is pessimistic. Firstly though, it's European - life expectancy may be lower.. Secondly it doesn't ask about long living family members which  is the strongest predictor of an above average life expectancy. You might think its funny, but I have taken life expectancy into account in my planning.

Life expectancy in Europe is 2 years longer in Europe than in USA (80 vs 78).
Europeans generally have a healthier lifestyle and eat better food than Americans

[deborah]

Yes it is pessimistic. Firstly though, it's European - life expectancy may be lower.. Secondly it doesn't ask about long living family members which  is the strongest predictor of an above average life expectancy. You might think its funny, but I have taken life expectancy into account in my planning.

Life expectancy in Europe is 2 years longer in Europe than in USA (80 vs 78).
Europeans generally have a healthier lifestyle and eat better food than Americans

However, the calculator says that life expectancy for men is 71, and it’s 78 for women! This might be true of the world as a whole, but I suspect not.

[Bloop Bloop]

I use a 2% withdrawal rate because i want a near-100% chance that once I fire i can do it indefinitely

I don't expect to live forever but it'd nice to not have to kill myself or go back to work as an 80-year-old once I hit my median life expectancy.

Plus I assume that most of us will have above-average life expectancies since health outcomes all correlate with income and financial security

[Bloop Bloop]

Yes it is pessimistic. Firstly though, it's European - life expectancy may be lower.. Secondly it doesn't ask about long living family members which  is the strongest predictor of an above average life expectancy. You might think its funny, but I have taken life expectancy into account in my planning.

Life expectancy in Europe is 2 years longer in Europe than in USA (80 vs 78).
Europeans generally have a healthier lifestyle and eat better food than Americans

However, the calculator says that life expectancy for men is 71, and it’s 78 for women! This might be true of the world as a whole, but I suspect not.

2020 life expectancy in Australia:

At birth - 83m / 86f

For a 40-year-old - 84m / 86.5f

Life expectancies correlate with income too so the richer you are the slightly longer you will live on average

[norajean]

Mortality is by far the largest uncertainty in any of the planning we do. Thousands of people your age will die today!

[Travis]

Mortality is by far the largest uncertainty in any of the planning we do. Thousands of people your age will die today!

And what if you do live forever? You're screwed! You can't be 100% certain about anything.

[helloyou]

Mortality is by far the largest uncertainty in any of the planning we do. Thousands of people your age will die today!

And what if you do live forever? You're screwed! You can't be 100% certain about anything.

If I can live forever I'd be very happy to go back to work to plan for a new future!! But for now we all have limited lifetime.

And what more, a even more limited HEALTHY life. Better enjoy it while you can!

[Buffaloski Boris]

That's a very pessimistic life expectancy calculator.  Social security publishes tables that are more realistic.  Economic class is also a big predictor of life expectancy (at least in the US) and there were no questions that went into that.

[Cassie]

I am 66 and most calculators say between 84-86. This one said I will be dead in 3 years. It’s definitely not worth using.

[helloyou]

I am 66 and most calculators say between 84-86. This one said I will be dead in 3 years. It’s definitely not worth using.

You are beating the odds!! 💪💪

[deborah]

I am 66 and most calculators say between 84-86. This one said I will be dead in 3 years. It’s definitely not worth using.

You are beating the odds!! 💪💪

No, it’s just a very bad calculator.

[oldladystache]

Im 75 and it gave me 11 more years. That makes me 86. I'm figuring on 95 or so, based on my lifestyle, present health, and family history. My dad lived to 103, my mom 93.

[G-String]

This calculator lost all credibility when it combined driving a car and riding a bike in one question.

[John Galt incarnate!]

I'm figuring on 95 or so, based on my lifestyle, present health, and family history.

+1.

[realG]

This calculator lost all credibility when it combined driving a car and riding a bike in one question.

Riding a bike might be more dangerous than riding a car because you can get in a deadly accident, even if riding a bike is a healthy thing to do.

So biking will :
- add longevity
- while also give you more risk to get killed

[G-String]

This calculator lost all credibility when it combined driving a car and riding a bike in one question.

Riding a bike might be more dangerous than riding a car because you can get in a deadly accident, even if riding a bike is a healthy thing to do.

So biking will :
- add longevity
- while also give you more risk to get killed

Fair point. I looked at the question from an exercise perspective, not risk of dying perspective.