 |
04-19-2009, 10:29 AM
|
#1
|
|
Recycles dryer sheets
Join Date: Oct 2007
Posts: 133
|
ESPlanner Basic - Free
Saw this info on another forum. ESPLanner is now offering a "basic" version of their retirement planner for free.
Anyone use their paid version? I have fiddled around with the basic for a little...the jury is still out for me. I have thought about purchasing the fee version, but not sure now after seeing the basic version.
Any thoughts?
Home | ESPlannerBasic
|
|
|
 |
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!
|
|
04-19-2009, 10:49 AM
|
#2
|
|
Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,501
|
I haven't used the paid version. I tried the "basic" version just now, and wasn't very impressed, either. Basically all it told me was that I could spend around 3.5% of my assets, something that I had computed all by myself in Excel.
I thought it was pretty unsophisticated, and that (for me) the phrasing of some of the questions seemed ambiguous.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
|
|
|
|
|
04-19-2009, 10:55 AM
|
#3
|
|
Recycles dryer sheets
Join Date: Nov 2003
Location: Charlotte
Posts: 360
|
You may wish to look at
Optimal Retirement Calculator and Retirement Decision Support System
for a pretty sophisticated on-line planner. For one thing, it incorporates asset location (eg., IRA, Roth, taxable) and tax optimization, and provides detail annual projections.
|
|
|
|
|
04-19-2009, 10:56 AM
|
#4
|
|
Recycles dryer sheets
Join Date: Sep 2007
Posts: 193
|
I just tried it. I don't think much of it. It looks like it just tries to spend assets to 0. Any spread sheet could do the same.
|
|
|
|
|
04-19-2009, 11:10 AM
|
#5
|
|
Full time employment: Posting here.
Join Date: Apr 2006
Posts: 969
|
William,
Thanks for the link. I just tried the ESPlannerBasic and was not impressed; but, The Optimal Retirement Planner looks more interesting.
__________________
If there's one thing in my life that's missing; It's the time I spend alone
Sailing on the cool and bright clear waters; There's lots of those friendly people
Showin me ways to go; And I never want to lose your inspiration
|
|
|
|
|
04-19-2009, 11:27 AM
|
#6
|
|
Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,501
|
If I operated it correctly, the Optimal Retirement Planner told me I could spend over 5%. That's a little too optimistic for me. But these planners are all interesting.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
|
|
|
|
|
04-19-2009, 12:51 PM
|
#7
|
|
Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
|
They both look like "fixed investment returns, known date of death". I was hoping that ESPlanner would be a lot more.
|
|
|
|
|
04-19-2009, 12:58 PM
|
#8
|
|
Recycles dryer sheets
Join Date: Nov 2003
Location: Charlotte
Posts: 360
|
 Quote:
Originally Posted by Want2retire
If I operated it correctly, the Optimal Retirement Planner told me I could spend over 5%. That's a little too optimistic for me. But these planners are all interesting.
|
Yep. Worked that way for me also, and will still continue to try and average south of 4%.
In the end it is interesting to see how these different tools "work the numbers", but I wouldn't want to follow any one of them too closely. One thing about ORP I like is the tax optimization strategy; Roth conversion recommendations, Roth usage during retirement, balancing account withdrawals to best take advantage of marginal tax rates.
|
|
|
|
|
04-19-2009, 01:12 PM
|
#9
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,305
|
Quote:
Originally Posted by tgotch
Saw this info on another forum. ESPLanner is now offering a "basic" version of their retirement planner for free.
Anyone use their paid version? I have fiddled around with the basic for a little...the jury is still out for me. I have thought about purchasing the fee version, but not sure now after seeing the basic version.
Any thoughts?
Home | ESPlannerBasic |
I have ESPlanner Plus (Monte Carlo). If you want to model income smoothing, it's pretty hard to do without something like ESPlanner. Having said that, it's not for novices and it's a little quirky. I learned a lot using it, but not sure I'd spend $200 again to buy it.
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
|
|
|
|
|
04-21-2009, 10:59 AM
|
#10
|
|
Thinks s/he gets paid by the post
Join Date: Jul 2006
Location: Denver
Posts: 3,519
|
I have used ESPlanner for a while, but find it of limited use to figure out absolute values of what to spend each year. Instead, I find it more useful to try 'what-if' scenarios.
The latest version of the monte-carlo ESPlanner allows you to model a conservative spending strategy, so is much better than the previous agressive spending model.
Also, there are so many unknowns out there, that consumption smoothing is, imho, very dicey to get right. Will SS payments keep up with CPI in the future? Will taxes stay the same? What happens to Healthcare insurance premiums, medicare etc. Even small changes in these factors translate into major changes in consumption. I still, however, pay the $50 annual fee (yes, there is one to get the latest versions) and use the software as explained above.
Here are my previous comments on ESPlanner
http://www.early-retirement.org/foru...8&postcount=10
|
|
|
|
|
04-21-2009, 06:51 PM
|
#11
|
|
Recycles dryer sheets
Join Date: Oct 2007
Posts: 332
|
I paid for the older version and used it for a month or so and found it a little cumbersome. I returned it and they gave me a full refund, no questions asked, and told me to keep it. I don't use it though.
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
Linear Mode
