Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
firecalc
Old 02-14-2011, 09:03 AM   #1
Dryer sheet wannabe
 
Join Date: Feb 2011
Posts: 22
firecalc

quick question re firecalc

on the first page where you put your expenses doe the calculator factor in inflation on these? i.e if you are spending 50k today does that progressively increase depending on the inflation rate you put later on...

im assuming it does but i couldnt find it on the firecal page...

thanks
__________________

ratraceout is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-14-2011, 09:26 AM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 43,400
Quote:
Originally Posted by ratraceout View Post
...if you are spending 50k today does that progressively increase depending on the inflation rate you put later on...
Yes.

From the "How It Works" page:

Quote:
Since your lifestyle costs will change with inflation, the future withdrawals are adjusted accordingly...
__________________

__________________
Numbers is hard

Although rare, it is possible to read something on this forum you don't agree with and simply move on with your life

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 02-14-2011, 09:27 AM   #3
Dryer sheet wannabe
 
Join Date: Feb 2011
Posts: 22
thanks a lot! sorry i missed it.
ratraceout is offline   Reply With Quote
Old 02-16-2011, 10:12 PM   #4
Full time employment: Posting here.
urn2bfree's Avatar
 
Join Date: Feb 2011
Posts: 730
How does FIRECalc figure on the cost of paying taxes?
urn2bfree is offline   Reply With Quote
Old 02-16-2011, 10:28 PM   #5
Thinks s/he gets paid by the post
Onward's Avatar
 
Join Date: Jul 2009
Posts: 1,740
Quote:
Originally Posted by urn2bfree View Post
How does FIRECalc figure on the cost of paying taxes?
You have to include taxes in the desired withdrawal amount that you give to FIRECalc.
__________________
And if I claim to be a wise man, it surely means that I don't know.
Onward is offline   Reply With Quote
Old 02-16-2011, 11:31 PM   #6
Full time employment: Posting here.
urn2bfree's Avatar
 
Join Date: Feb 2011
Posts: 730
So how do you figure taxes...that seems trickier...
urn2bfree is offline   Reply With Quote
Old 02-17-2011, 09:46 AM   #7
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,637
Quote:
Originally Posted by urn2bfree View Post
So how do you figure taxes...that seems trickier...
Most users assume they'll be in the 15% federal income tax bracket and whatever state/county/city/local brackets seem appropriate.

You could take your retirement spending budget and apply any deductions and the exemptions before checking the tax tables, or you could use the tax-estimator feature of a variety of tax software programs. The tax software generally does a better job with interest, qualified/unqualified dividends, cap gains, and tax-free income. Of course you won't be worrying about W-2 income...

The good news is that most ERs see a huge drop in taxes compared to their working years.
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Has FIRECalc ever let you down? Rich_by_the_Bay FIRE and Money 41 06-07-2009 06:01 PM
FireCalc - What is your % now? shotgunner FIRE and Money 44 12-12-2008 04:07 PM
New FIRECalc 3 dory36 FIRECalc support 20 02-09-2008 07:52 PM
Did your RE if FireCalc said no?? DangerMouse Life after FIRE 16 09-17-2007 04:55 PM
FireCalc PaperSniper FIRE and Money 18 08-04-2004 11:37 AM

 

 
All times are GMT -6. The time now is 04:10 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.