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URL:  http://boards.fool.com/so-i-am-puzzled-i-do-not-propose-to-simply-blow-12384437.aspx

Subject:  Re: Puzzled Date:  4/12/2000  12:49 AM
Author:  SactoFool Number:  21140 of 75670

So I am puzzled. I do not propose to simply blow it all on the assumption that I may die in 5 years, but I am puzzled by the apparent tendency to assume the other extreme and subordinate everything to the possibility that one will live to be 90. Maybe you will, maybe you won't. Notwithstanding the mortality tables which say you might live to 90, when it comes to discussions on when and how to retire I am puzzled by the lack of comment on the fact that you may only have a few years, with something to be said for concentrating on them, not on the other end.

Well, others have said this with far more supporting data and arguably more elegantly, but here goes anyway.

To me it boils down to a choice between living within the means of my portfolio (and leaving the leftovers to charity when I eventually die) or living more for the moment (and praying I die before I end up scrounging through garbage for enough beer bottles to recycle to buy catfood).

Seeing as how the only way to build up the portfolio is to put the concept of "delayed gratification" into action in the first place, I don't think the choice will be that hard to make.

I'm still working (for how long due to health reasons is a separate question), but my goal is in the neighborhood of 25-30 times my current expenses. That excludes my mortgage (that I hope to have paid off in time), and all the money I'm putting aside towards retirement. I figure that's enough to reasonably ensure my current lifestyle, including adjustments for inflation and taxes, for as long as I might live, regardless of how long that is. And the growing principal will then be donated to the charities of my choice allowing me to do one final good, even in death.

But that's were my mind is. As others have said, it's a personal decision. If you want to focus on today at the expense of a possible tomorrow, that's your choice to make. Me, I'm betting on life.....

Sacto Fool
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