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Retirement Countdown Calculator

I have enough money to last the rest of my life, if I die tomorrow....
  (+3)
(+3)
  [vote for,
against]

For people afraid to retire, thinking they don't have enough money saved:

An app that takes your current net worth, plus expected social security payments, pensions, disability payments, etc... - divides it by your remaining life expectancy - then tells you how much money you can spend by year, month, or days in the time you have left.

For "remaining life expectancy" you can input what the statisticians tell you, or your doctor, or you own best guess.

a1, Apr 14 2021

Inflation doesn't include cost of housing https://www.abc.net...-of-housing/8457718
[xaviergisz, Apr 15 2021]

Portfolio diversification for inflation http://www.thewalsallwheelbarrow.co.uk/
[bigsleep, Apr 15 2021]

[link]






       This wouldn't be that hard with a suitable spreadsheet.
RayfordSteele, Apr 14 2021
  

       Or even a pocket calculator. But a snazzy app could separate the rubes from their money, leaving a little less for their retirement.
a1, Apr 14 2021
  

       Bun especially if it gives the answer in the form of: "Congratulations! You can afford to live 3 more years!" Then maybe you get a popup ad for "Budget Funeral Services".   

       ""Dead and dead broke? We can help!".
doctorremulac3, Apr 14 2021
  

       I want to give this a (+) but I can't.
Any algorithm that doesn't take inflation of currency into account devalues the value extorted towards retirement verses the value of the paid out amount.
  

       Until value increases with inflation... it's just another con.   

       Yay, the hundreds I slaved to pay to my government will be worth pennies when I'm old... even though they are still called hundreds but don't still buy what hundreds used to be able to buy..
...yay...
  

       There's a nasty paradox there, [2 fries]. You see, "sound money" (suppressing inflation) tends to favour the interests of capital over those of labour, so if a government makes its money too sound, then it risks a populist revolt by the labouring classes. However, once a person has retired, and tries to live off their own savings, their interests become the interests of capital, not of labour, *even if* they don't have very much capital, and they got that by labouring for forty or fifty years. So, in monetary terms, there is a fundamental conflict of class interest between you ten years ago and you ten years hence. This can be resolved simply by working until you drop dead. Yay.   

       When I say "you", I mean, probably, most of us, except that you personally have probably worked harder than most of us, so you are, perhaps, more entitled to feel aggrieved about it.
pertinax, Apr 15 2021
  

       It's not that. There is no interest accrued on moneys extorted toward retirement even though everyone knows that inflation will make that very hard earned money worthless later.   

       That's it.   

       Value for value.
Don't extort at today's wages that which will not be worth a plug nickle later in life you fucking con artists.
  

       That is all.   

       I do not give you the right and you will take it at your own peril.   

       <shrugs>   

       You'll see.   

       //You see, "sound money" (suppressing inflation) tends to favour the interests of capital over those of labour, so if a government makes its money too sound, then it risks a populist revolt by the labouring classes.//   

       I disagree.   

       As long as capital is invested in assets (houses, office buildings, shares), it is essentially immune from inflation. Inflation will only affect the capital just sitting in a bank account. Only a small proportion of a wealthy person's wealth sits in a bank account, whereas a significant proportion of a poor person's wealth sits in a bank account.   

       In my opinion, inflation adversely affects the poor far more than the rich. A poor person's pay rises will always lag behind the cost of living increases. Inflation is essentially an invisible tax on non-asset holders.   

       And inflation is always under-estimated. For example, in Australia the one item that is always not included in calculating inflation is the cost of houses.
xaviergisz, Apr 15 2021
  

       That’s the nice part about getting old - if you play it right. At some point you realize your money will last longer than you will. THAT’S when it’s okay to retire, but a lot of people don’t get it.
a1, Apr 15 2021
  

       I'm already retired and here's the thing; there are millions of ways to live frugally and still find joy in daily life. Ignore the aches and little pains, find a still spot to clean your brain every day, and thank the universe for supplying you with whatever food is available and makes you happy. Pray for housing and then be grateful you have that and your freedom. The rest you can do without. So I'm like [a1] in the sense that I am rich beyond belief, until tomorrow morning. Then I begin again. Oh yeah, most important, nature is free.
blissmiss, Apr 15 2021
  

       That's nice Blissy. Sounds like you've done some serious thinking about life and come up with some good takes on it. Bravo.
doctorremulac3, Apr 15 2021
  

       // in Australia the one item that is always not included in calculating inflation is the cost of houses. // But if you own a house, your equity is an appreciating asset. This offsets the inflationary impact on homeowners.
a1, Apr 15 2021
  

       Remember inflation of healthcare, housing, education isn't considered in government inflation figures.
chronological, Apr 15 2021
  

       // inflation of healthcare, housing, education isn't considered in government inflation figures. //   

       Maybe not where you live. But the US Bureau of Labor Statistics does count healthcare and education as major categories in the Consumer Price (CPI). It does not include housing for same reason I cited earlier - in their words: "...the CPI views housing units as capital (or investment) goods and not as consumption items. Spending to purchase and improve houses and other housing units is investment and not consumption."
a1, Apr 15 2021
  

       That's why land is the only way to go for the silver-spoonless.   

       //Inflation is essentially an invisible tax on non-asset holders.// That depends on the asset. Inflation is an invisible tax on holders of cash and bonds. Hyperinflation ruins everything because it makes planning impossible. However, some level of inflation is typically a corollary of government stimulus of some kind.   

       Recently, this stimulus has taken the form of quantitative easing which, yes, does just give free money to asset holders, but the more usual kind of stimulus has taken the form of fiscal easing, whereby people are paid by the government to do work. Of course, we may dispute how useful this work is, but the money is transferred to labourers, not capital- holders in this case.
pertinax, Apr 16 2021
  

       I really don't want to contest my fellow man with floppy nebulous value units, for a mathematically defined area of our collective survival machine. But society trains me that i have to.
wjt, Apr 19 2021
  
      
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