How Much Time do we Have?
In life centred planning [financial planning without the off the shelf products] we determine how much money we need to see us through. Without knowing this number any planning is somewhat challenging. We talk glibly about "actuarial" life expectancy - the date when we are expected to pass on.
We often hear the phrase "life is not a rehearsal" - especially after the age of 40! So it may be interesting to reflect on how much time we do have left and to look at the time we actually spend doing all our lifestyle pursuits.
In the US, the Bureau of Labor Statistics published the following recently:
Activity Time Spent on it [years]
Chores/household jobs 6
Eating and drinking 4
Grooming/getting ready 2.5
Child care 1.5
TV/video games 9
So, if life expectancy is 78 then we have only 9 years left!