“I’m 68, she’s 74, and we’re both in good health. We married later in life and have no children or close family remaining.”
‘Fancy cars hold no appeal’: My wife and I have a 99% chance of outliving our savings. Why don’t we spend it all?
In short
A 68-year-old husband and his 74-year-old wife have determined they have a 99 percent likelihood of outliving their retirement portfolio. Because the couple married later in life, has no children, and has no surviving close family, they have no heirs to receive an inheritance. Although they have no interest in purchasing expensive items such as luxury cars, their robust financial standing has led them to contemplate spending down all their accumulated assets.
Key points
- Having no surviving heirs removes the traditional requirement for the couple to preserve…: Having no surviving heirs removes the traditional requirement for the couple to preserve an estate.
- A strong financial position is encouraging the partners to consider spending down their e…: A strong financial position is encouraging the partners to consider spending down their entire wealth reserve.
- Disinterest in luxury items complicates their decision on how to fully expend their remai…: Disinterest in luxury items complicates their decision on how to fully expend their remaining retirement funds.