Kill the insurance??

Thank you for the responses. After figuring out how to enter our self-employment earnings without doubling them by accidentally adding the earnings to Social Security future earnings as well...whew!...the only thing I'm stuck on at the moment is how to get rid of the insurance. We aren't going to do that. So how do I get that insurance requirement out of my calculations? I love ESPlanner, BTW. After I got over the disappointment that we wouldn't be able to buy our own island in retirement (duplicated our earnings), I discovered that we are in much better shape than I had imagined. It's great that I can change the details as we go forward into the next several years, adding details as we go to get as close to reality as possible.

Comments

dan royer's picture

Well, a couple of ways to think about this. If you really want to lower the survivor's living standard compared to both alive, use the Estate folder to tell the program to lower the survivor's living (but don't tell your spouse???) :)

It could be an issue of contingent planning, however. In that case, the wife says, we don't need that series of three 40,000 expenses for cars we had scheduled, and we also don't need those two vacations we had scheduled! Remove those in the contingency and the life insurance needs go down or go away. (making those numbers up of course).

Oh, I see. Excellent. So...anything that can be done so we can buy our own island?...

dan royer's picture

LOL, well, you can see what 15% nominal return will do on your assets. What Brian, Chris, and others around here will tell you actually is not to feel your model is all in place or settled too soon. By continuing to look at things, playing with the choices you do have before you, and getting a sense for the particular pain points or leverage points, you can often raise your living standard quite a bit. Working more years helps, but I don't like that idea myself. Kidding aside, the imagination plays a bigger role in using this program than most people think. And that comes into play as you become more familiar with the program.

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