June 10, 2008
We like to pretend that we don't need to worry about these issues. We don't need to worry; we just need to deal with them systematically.
1. What is my life expectancy? (Use this on-line life expectancy calculator.)
2. What is the general state of my health?
3. What about my spouse's life expectancy and health?
4. What age do I plan to retire?
5. Along with Social Security, what will my expected income be when I retire? (What is your total investment portfolio? Find out how large a lifetime annuity it would buy today, beginning in the year you plan to retire.)
6. What rate of price inflation will prevail in the year I retire?
7. Will my home be paid off when I retire?
8. Should I refinance now, buy investment assets (such as three more houses), and use my Social Security income to pay off the mortgage?
9. What will I do with my time in retirement?
10. Where do I want to live after I retire?
This list is a summary of these three issues:
1. Your life expectancy
2. Your pension fund's life expectancy 3. The dollar's life expectancy
For my general assessment of retirement, including my recommended portfolio for retirees, click here.
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