The Expected Retirement page is used to determine both the year at which retirement expenses begin and the end year of the plan. The expected retirement age for clients and spouses defaults to 65 and life expectancy defaults to 95. You can enter alternate values for the expected retirement age and life expectancy for the client and, when applicable, the spouse. Spouse fields do not appear if the spouse was not included in the plan.
In the Expected Retirement Year box(es), enter the client and/or spouse's age at retirement. The Expected Retirement Year updates.
In the Life Expectancy box(es), enter the client and/or spouse's life expectancy in years. The Chance of Surviving % value updates based on the input.
To restore the default values, click Reset.
Values in the Assumed in Plan and Age of Death tables are calculated based on year of birth and life expectancy.
The Chance of Either Person Outliving Planning Horizon is calculated based on the information entered above. It refers to the combined mortality statistics for the couple. For plans that involve a couple, this is the most important field to think about. Most planners prefer to assume a combined mortality probability of 25% or less. For example, of a couple aged 65, there is a 25% chance of either person living past age 96.