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To: Cogito Ergo Sum who wrote (90827)	5/31/2012 11:04:43 AM
From: Metacomet	Read Replies (1) \| Respond to of 218556

That is right.. ...and the number of folks who achieve that in the US is maybe 1% and those are who the tax code is designed to protect

To: Cogito Ergo Sum who wrote (90827)	5/31/2012 2:09:29 PM
From: Maurice Winn	1 Recommendation Read Replies (4) \| Respond to of 218556

There is a good insurance business to be had offering guaranteed income to people trying to guess their longevity so they can decide when to quit work. <say you are planning on 20+ more years of life.. do you cut back after being frugal already to achieve that security.. ? > Suppose one is age 60 and has $1 million invested for the duration. Should one work until age 65 or quit now? It would be very annoying to work until 65 to put more away to make the journey from age 85 to 90 more comfortable, only to find at age 66 that one should buy a coffin for Xmas. One could then think one should have quit work at age 50 and enjoyed the remaining time on activities of choice unrelated to income. The insurance opportunity is to sell income insurance so that people at some age could buy an income policy for a lump sum. In this example one could pay $500,000 in exchange for guaranteed income for the rest of one's life. The actuaries would calculate the odds so the insurer would make money, the insured would get a guaranteed income stream and would therefore be able to quit work sooner. If people died sooner than expected, the insurer would make big profits. If they died later than hoped, the insurer would lose big heaps. One would need to buy from trusted insurers who would not hire contract killers to avoid winning hands by long living oldies. One would also want to ensure that the insurer would remain solvent. A co-op insuring group might be a better way to go. Get a bunch of 100 people to mutually insure and that would be sufficient numbers to make the statistics predictable. It was a problem for me to decide how much to save. After a life time of saving and investing, it's hard to change tack and go into spending mode, depleting capital. Running out of money at age 85 would NOT be a good strategy because it's difficult to go back to earning at that age. Mqurice