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You wrote, My general plan is to sell off my home and rental property by the time I'm 75 (should I live another ten years)

According to the social security administration, if you were 75 today you should expect to live to 86 ... on average. So if you live another 11 years, only half of your peers (that were still alive today) will have died.

For financial planning purposes, I would recommend you plan for your money to survive until at least the first standard deviation, or until about 90% of your peers are dead. (You may want to take it further, but I believe the first standard deviation is the minimum acceptable level of planning.) If you do that, you would want to try to have your money survive until you are about 94.5 or for about another 19.5 years. (If you are not yet 75, your might target might be a little sooner.)

BTW, based on the 2010 SSA actuarial tables, a man retiring at an age of 65 should plan for his money to survive until he is at least 93.5 years of age ... so it's not like the target moves all that much.

- Joel
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