Should maximum age of life be extended past 110?

Since life expectancy continues to increase, it seems reasonable that ESPlanner's maximum age of life (demographics tab) could be extended past age 110. Perhaps this would slow down some calculations, but I'm guessing this would only be for users who implement age 115 or 120 years.

While this only impacts a tiny fraction of people today, it could become more likely in a generation or more.



dan royer's picture

What a thought! But perhaps you are right.

Chronologically your suggestion comes on the heels of my comments/questions/confusion wrt the MRD withdrawals when looked at in terms of how closely they match with the yearly amounts to be found using the IRS lifetables with lifespans reaching 115. Is that simply due to coincidence?

That did trigger my interest. I'm curious to see the impact of very long lives in ESPlanner. Of course, few people are in this category today. According to Social Security, in 2010, they estimate 26 women out of 100,000 will live to 110 or later and only 3 men.

Still, according to the Society of Actuaries in late 2014, longevity for those age 65 has increased by slightly more than 2 years since 2000. In another 20 years or more, it's reasonable to expect the numbers will increase again.

Since the planning horizon for ESPlanner users can be well over 50 years, what seems unlikely today could, hopefully, become much more common.


Looks like we have the ability in the current release under Assumptions/Demographics to increase the lifetime above 100. I'm not sure what previous releases allowed. It will be a long time before I have to consider taking advantage of this option!

phil1424's picture

Hello, I am new to this (signed up and bought the ESP basic last night ) . Anyway I really like it so far but have many questions . I finally found this on a search about the age thing . And do have a question about the default age of 100... How ever I dont even know how to know when a new posting has been posted yet so still have a lot to learn .. what i did want to know is on a report is there anyway to change the age from 100 to say 90 for example ?
Sorry for my stupidity , but thanks for any help, -phil

Hi Phil,

For the "Basic" version ( there isn't a way to change the maximum age of life. No worries about the questions. We all started there.

The download version has many more features including this option.

Good luck!


phil1424's picture

Brian ,
thank you sir for the fast response. I do now have the downloaded version of ESPanner now . I paid $149 for it .. Do you mean I need to buy the Plus version ? And then I could change that variable ? I do realize from the FAQ that I would have to pay for an extra yr at the same time too as upgrade .. But thats ok .. I like the program very much ! phil

phil1424's picture

I'm Sorry Brian .. I found it on my program ... under demographics tab ..
thanks again though , phil

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