Fidelity RIP

[WestUniversity]

Quote:

Originally Posted by COcheesehead Cough, cough...see post #5.

Thanks. Missed that one...

[Perryinva]

Where is the score located? I have accounts at Fidelity and use the retirement calculator and also find it pretty thorough, but I don’t see any score. It does give the lowest estimated income of the ones I’ve used.

[Dtail]

Quote:

Originally Posted by Perryinva Where is the score located? I have accounts at Fidelity and use the retirement calculator and also find it pretty thorough, but I don’t see any score. It does give the lowest estimated income of the ones I’ve used.

The score should be on your main page of your Fidelity summary, perhaps on the right side.
Being that this is not obvious to you, perhaps call your Fidelity rep as to why you don't see it.
Usually from the first page, you click on the update.
Not sure how you could use the calculator without seeing the score.
Once in awhile, I get an income result instead of an overall score with assets remaining. I just run it again and it goes back to my overall score, etc.
Perhaps that is your reference.

[COcheesehead]

Quote:

Originally Posted by Perryinva Where is the score located? I have accounts at Fidelity and use the retirement calculator and also find it pretty thorough, but I don’t see any score. It does give the lowest estimated income of the ones I’ve used.

Fido has a few. The one discussed here is the FRS Fidelity Retirement Score in the planning and guidance center. It should also be on main all accounts summary page on the website.

[nwsteve]

if u checked u are already retired, u will not see a score as I understand it

[Dtail]

Quote:

Originally Posted by nwsteve if u checked u are already retired, u will not see a score as I understand it

That is correct, but don't think perryinva is retired yet.

[TNBigfoot]

I like the FIDO calculator and find it most helpful. The one thing I take issue with is there is no option to adjust for inflation. They assume I believe a 2.5% for all Spend except for medical which is higher. When I asked, the answer was that if inflation escalates, so do market returns. I would feel better having the ability to vary inflation to stress test my plans.

[COcheesehead]

Quote:

Originally Posted by TNBigfoot I like the FIDO calculator and find it most helpful. The one thing I take issue with is there is no option to adjust for inflation. They assume I believe a 2.5% for all Spend except for medical which is higher. When I asked, the answer was that if inflation escalates, so do market returns. I would feel better having the ability to vary inflation to stress test my plans.

Use Firecalc. You can put in any inflation rate you want.

[big-papa]

Not retired yet, but close. In January of each year I look at:
1. The Fidelity tool with my best guess of spending/tax bracket
2. Firecalc
3. The first year's withdrawal assuming classic VPW
4. The first year's withdrawal with my own PMT calculator as well as historical backtesting
5. A calculation of the "Funded Ratio" as described on BH and elsewhere
6. Anything else I can get my hands on.

I also add SS, but give it a 25% haircut. I also stress test assuming an early 2000's or 2008 type of correction. At the end of the day, what matters to me most is #4 above with #5 a close second. The rest, for me, are informational only for "feel good" effect.

[bingybear]

when I update my RIP within Fido I don't get the number (0 - 150), I just get amount left over (or when it runs out) based on a few stock market assumptions. Not sure how to run the version gives the one number result.

[albireo13]

Do I need an account to access Fidelity RIP?
I couldn't find it on their web site.

[45th Birthday]

Quote:

Originally Posted by bingybear when I update my RIP within Fido I don't get the number (0 - 150), I just get amount left over (or when it runs out) based on a few stock market assumptions. Not sure how to run the version gives the one number result.

As nwsteve alluded to, if you mark yourself as already retired, your result is the $ amount left over. If you are not already retired, you get the index.

[big-papa]

Quote:

Originally Posted by bingybear when I update my RIP within Fido I don't get the number (0 - 150), I just get amount left over (or when it runs out) based on a few stock market assumptions. Not sure how to run the version gives the one number result.

There is only one verison. If you're already retired, it won't give you a score. Or, if like I did once, you entered the wrong date for when you plan on retiring and that date is in the past, it won't give you a score.

[Dtail]

Quote:

Originally Posted by big-papa There is only one verison. If you're already retired, it won't give you a score. Or, if like I did once, you entered the wrong date for when you plan on retiring and that date is in the past, it won't give you a score.

+1
I simply enter my retirement age as +1 from my current age and not retired. Effectively using a retire all over again each year concept.

[big-papa]

Quote:

Originally Posted by Dtail +1 I simply enter my retirement age as +1 from my current age and not retired. Effectively using a retire all over again each year concept.

Yup, that works and is exactly what I do. Basically it's helping to answer the question "Am I ready right about now?".

[Dtail]

Quote:

Originally Posted by albireo13 Do I need an account to access Fidelity RIP? I couldn't find it on their web site.

I had heard that one did NOT need an account at Fidelity.
Any other thoughts out there?

[ShokWaveRider]

Quote:

Originally Posted by Dtail I had heard that one did NOT need an account at Fidelity. Any other thoughts out there?

I think the results are limited to just a score though if you are not a Fidelity member.

[bingybear]

Quote:

Originally Posted by big-papa There is only one verison. If you're already retired, it won't give you a score. Or, if like I did once, you entered the wrong date for when you plan on retiring and that date is in the past, it won't give you a score.

Likely not that important to see "the number". I normally extend my life expectancy, leave out some assets, and using the lowest market expectation and check what kind of spending it will support. I see that as more relevant.

[ShokWaveRider]

Is or are there calculators out there that TELL YOU (Not just 4% Rule) how much one can withdraw safely during retirement? As Opposed to how much does one expect one will need to withdraw. I would love one that is downloadable. Or has some kind RE member written one that they can share? Here is what I am looking for:

Variables:
Total Retirement Nest Egg - Say $1m
Total Expected Average Return: Say 5%
Total Expected Inflation: Say 2% (Also Increase Per Year)

Total Expected SS Payments at Retirement Age: Say $2,500pm
Retirement Age: Say 65
Life Expectancy: Say 30 years (95)

Calculations starting day 1 is fine. So no additions other than estimated return to Nest Egg.

Results ideally would say You can withdraw $xyz Pm or Annually in Year 1 - 30. With a chart showing Annual withdrawal totals and how much of Nest Egg is left after every given year.


Thanks

[Aiming_4_55]

Shok - I'm not an expert on FircCalc, but can't FireCalc get you that estimate with the Investigate tab on the far right? Near the bottom "Given a success rate, determine spending level for a set portfolio, or portfolio for a set spending level"

The "Your Portfolio" tab you can set the growth rate and inflation rates.

The "Other Income/Spending" tab set your estimated Social Security.

The "Start Here" tab set your 1M and 30 years.

I guess it doesn't show annual information in a spreadsheet, but it gives a spending level.

Quote:

Originally Posted by ShokWaveRider Is or are there calculators out there that TELL YOU (Not just 4% Rule) how much one can withdraw safely during retirement? As Opposed to how much does one expect one will need to withdraw. I would love one that is downloadable. Or has some kind RE member written one that they can share? Here is what I am looking for: Variables: Total Retirement Nest Egg - Say $1m Total Expected Average Return: Say 5% Total Expected Inflation: Say 2% (Also Increase Per Year) Total Expected SS Payments at Retirement Age: Say $2,500pm Retirement Age: Say 65 Life Expectancy: Say 30 years (95) Calculations starting day 1 is fine. So no additions other than estimated return to Nest Egg. Results ideally would say You can withdraw $xyz Pm or Annually in Year 1 - 30. With a chart showing Annual withdrawal totals and how much of Nest Egg is left after every given year. Thanks