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[quote=Anonymous][quote=Anonymous]OP here:

With our assets + life insurance, DW would have a net worth of about 2.2 million....

according to 
[url]
http://www.calculator.net/annuity-payout-calculator.html?cstartingprinciple=2200000&cyearstopayout=40&cinterestrate=6&cinflationrate=3&cmonthoryear=year&x=63&y=15[/url]

which would be worth about 146K /year for 40 years....Add in social security:  44K/year till DD turns 18 (5 years 1 month), and 24K starting in 20 years (she reaches retirement age)....in the intervening years, with any work, she would be ahead of my current salary (the deficit is 10K)[/quote]

You're assuming a lot more in assets than you listed. Yes, you have equity in your house, but unless you expect your wife to sell the house as soon as you die and then live on the streets, that equity needs to go into housing for her, separate from any long-term planning. Also, a 6% rate of return is a little bit of an aggressive assumption for an annuity, because of the fixed payments the investments are going to be a little more conservative.

But even if we take your assumptions as correct, did you notice the line right under the $146k? That in 40 years, that would be worth less than $45k in today's dollars? That's not going to go very far, especially at an age where your wife may need more medical care for herself. And even before that, what about college for your daughter? Do you have a college fund for her?

I'm sure what you're going through is very difficult, and I can't imagine the emotions that are going along with it. But it feels like there's a little of a "who cares what happens to them once I'm dead" tone to the whole thing when you're seemingly not willing to even consider re-evaluating your budget if there's a chance it might mean you can't buy a shiny new toy every year.[/quote]

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