No. of Recommendations: 1
for susiq:

Everyone planning for retirement faces that dilemma, unless he's already broke, and no one has a perfect solution. You just can't know exactly when you'll die or what your investments will do meanwhile. You cannot even be sure that your heirs, if you have any, will be more helped than hurt by a "windfall".

The "Die Broke" ideas are sketched at http://www.amazon.com/exec/obidos/ASIN/0887308678/webcraftcomput05/102-9065010-1344049 which includes some reviews of the book. I don't particularly recommend the ideas given there, but it's food for thought. I've read the book. The crucial idea seems to be transfer of more and more of your assets into annuities that expire when you do, so that you can literally die broke. There seem to be few fans of annuities around here; certainly, I'm not one.

Like you, I am single and likely to remain so. Now, at age 60 and more than 6 years into retirement, I'm managing my retirement assets to preserve the purchasing power of the total stash as nearly level as possible while providing a constant standard of living for the next 35 years. I'm using conservative assumptions about inflation and investment results. So, in all probability I'll leave a respectable amount to a tax-exempt foundation one day. You may not regard that as a solution to the dilemma, but it works for me.

(lifting a glass of decent Cabernet Sauvignon, he smiles and says . . .)

Health, long life, and prosperity to you.

Chips
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