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Fidelity RIP
Old 04-04-2016, 12:31 PM   #1
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Fidelity RIP

I was using the new Fidelity retirement income planner and the speedometer that was used to measure readiness is gone, just lists portfolio values for 2 risk scenarios. Did they can the speedometer? It was fun trying to boost it up by cutting expenses🙃


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Old 04-04-2016, 12:57 PM   #2
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The speedometer is still on for me. I do have accounts there.
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Old 04-04-2016, 01:27 PM   #3
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I was using the new Fidelity retirement income planner and the speedometer that was used to measure readiness is gone, just lists portfolio values for 2 risk scenarios. Did they can the speedometer? It was fun trying to boost it up by cutting expenses��


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Regarding the Speedometer. If you tell them that you are to retire on your birthday in March (for example). And then that date passes. The tool then assumes that you have retired and the speedometer goes away.

To get the Speedometer back, tell the tool you'll retire next year or later. And then adjust any income that matters like increased pension or increased Social Security payments etc.
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Old 04-04-2016, 02:11 PM   #4
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Regarding the Speedometer. If you tell them that you are to retire on your birthday in March (for example). And then that date passes. The tool then assumes that you have retired and the speedometer goes away.

To get the Speedometer back, tell the tool you'll retire next year or later. And then adjust any income that matters like increased pension or increased Social Security payments etc.
Good point. I put in 62 as a retirement, even though I am retiring at 56.5. I plan on not touching my investments until 62+, and live solely off my rental income.

I also put in $1 a year as a salary, it's sort of a 'trick' to leave the additional savings from being added in.
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Old 04-04-2016, 03:29 PM   #5
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Hmm, my status changed to retired just recently, are u still working? Maybe thats it.


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Old 04-04-2016, 03:37 PM   #6
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Do you have to be a Fidelity customer to use RIP?
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Old 04-04-2016, 03:54 PM   #7
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Do you have to be a Fidelity customer to use RIP?
I believe that anyone can use it (??)

The new name for the Retirement Income Planner is "The Planning and Guidance Center"

You can access it here:

https://www.fidelity.com/calculators...uidance-center
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Old 04-04-2016, 03:59 PM   #8
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Hi all. If you change your status (or spouse) to retired the speedometer goes away. Found that out recently when I changed my status to retired, and confirmed with my Fidelity rep.

You have to be a Fidelity customer (have at least one account there) to use RIP.
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Old 04-04-2016, 04:17 PM   #9
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Aha!


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Old 04-04-2016, 04:21 PM   #10
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Does anyone know of a retirement planning tool similar to RIP?
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Old 04-04-2016, 04:26 PM   #11
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Does anyone know of a retirement planning tool similar to RIP?
Similar in what way? (Just askin....)
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Old 04-04-2016, 04:32 PM   #12
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Unfortunately I don't know what RIP is like since I am not a Fidelity customer, but everyone talks about how great it is and I feel like I am missing out on something. One thing I have heard is it inflates healthcare expenses more than other retirement planning tools, but that is all I know.
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Old 04-04-2016, 04:57 PM   #13
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Does anyone know of a retirement planning tool similar to RIP?
There are more retirement calculators than you can imagine. Here is a link to the Bogleheads list:

https://www.bogleheads.org/wiki/Reti...s_and_spending
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Old 04-05-2016, 05:24 AM   #14
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Does anyone know of a retirement planning tool similar to RIP?
Quicken Lifetime Planner, found in Quicken Premier desktop software.
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Old 04-05-2016, 05:26 AM   #15
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Fidelity RIP will not let me edit the asset allocation for my company 401k, and it has it wrong. I could call Fidelity and complain, and they could add it to the list of other concerns I've expressed, and then, like all the others, do nothing about it and provide me no assistance. Does anyone know any trick I could use, short of deleting the automatic-updating account, waiting a day, and then adding it back in as a manually-entered account, waiting another day, and then trying again?
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Old 04-05-2016, 12:23 PM   #16
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Fidelity RIP will not let me edit the asset allocation for my company 401k, and it has it wrong. I could call Fidelity and complain, and they could add it to the list of other concerns I've expressed, and then, like all the others, do nothing about it and provide me no assistance. Does anyone know any trick I could use, short of deleting the automatic-updating account, waiting a day, and then adding it back in as a manually-entered account, waiting another day, and then trying again?
If the account can not be added for automatic updates, then manual is the only way to go. You can periodically check to see if FID has added the account (good luck).

Unfortunately, regardless of how accounts are added, if RIP can't figure out the Asset Allocation, there is no way to input what you think the AA is. So that part of the tool is not really useful
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Old 04-05-2016, 12:27 PM   #17
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Do you have to be a Fidelity customer to use RIP?
You do have to be a customer; i.e., open an account. HOWEVER, you don't have to fund the account. That's what I did and it has worked fine.
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Old 04-05-2016, 12:31 PM   #18
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If the account can not be added for automatic updates, then manual is the only way to go.
The account is added for automatic updates. It just is automatically updating the wrong allocation.

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Unfortunately, regardless of how accounts are added, if RIP can't figure out the Asset Allocation, there is no way to input what you think the AA is. So that part of the tool is not really useful
It's a critical failure afaic. I used to prefer RIP to QLP; now I'm not using RIP and just using QLP.
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Old 04-05-2016, 03:31 PM   #19
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The account is added for automatic updates. It just is automatically updating the wrong allocation.

It's a critical failure afaic. I used to prefer RIP to QLP; now I'm not using RIP and just using QLP.
What is this "QLP" and where can I use it ?
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Old 04-05-2016, 03:52 PM   #20
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How is QLP, Quicken Lifetime Planner, better than RIP?
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