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I think about this a bit like the view from the “Rich, Broke, or Dead” FIRE Calculator. Having the ability to see that “oh, in 5% of cases you run out of money, but in 90% of cases you’re already dead” would put some perspective to the simulations. https://engaging-data.com/will-money-last-retire-early/
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I really liked this calculator by engaging-data. It helped me understand that the most important risk was to be dead and not to be broke… Puts things in prespective! …Better take care of my health than to worry (too) much about the risk of being broke (you can always adjust your spending… if you’re still alive!)
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Oh, very interesting concept!
Guessing this would be another aspect/variable to the Chance of Success module…
…independent of the end-of-life dates/ages defined in my plan, this concept would take industry mortality data and show trials with that variable included.
If you live to age 65, then your x% to reach age#..so what’s the CoS for under/at/over that age statistic.
Your current plan has an end-of-life in which statistically is achieved by only 5% of the population, and with that current value your plan’s CoS is 72%…however, your plan’s CoS is 93% if your end-of-life is defined at an age where 80% of the population gets to.
Intriguing idea