I read this post from Super Saver with some consternation. Not to mention some recognition.
My father had a heart attack at age 58 and died from a stroke at 68. My mother died during heart bypass surgery at age 78. This does not bode well for Grace.
While I do think I take better care of my personal health than my parents did at this age, genetics can be a bummer.
Thanks Dad! Mom!
So thinking about the next fifteen years, maybe I should consider the possibility that they are the remaining 'good' years I have left.
Does that make a difference in my future financial plans? Right now, the plan is to get everything (residence, car, credit cards) paid off by (or, more likely, during) age 65, then spend four years saving for fun stuff like travel, and then retiring at age 69.
But would it make more sense to spend now for the things I want to do that will require relatively good health? I'd like to take a major car trip across the US--not so much to be outdoors (I don't like sunburns or mosquitos) but to spend time in all the cities I've missed: San Diego, Taos, Chicago, Philadelphia, Boston, New Orleans, to name just a few. Can I put that off for another 7 years or is the time to do it now?
If there's just 15 'good' years left, do I really want to spend half of them paying down debt or saving money? Would I really have to? If my last years of retirement are likely to be sedentary, and given that TV and the internet are not all that expensive, wouldn't that be the time to concentrate on debt reduction?
But I have no track record as a seer. I could get hit by a car tomorrow, or live into my '90's' (I'd say 'hundreds,' but I think that's pushing it!)
What I do have is anxiety. Letting my debt follow me into retirement produces more anxiety than I'm willing to have, particularly if those retirement daysare going to be among the best of my life.
I guess I'm stuck with just plugging away.
And pushing out the boundaries of that 'fifteen good years.'