Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 08-07-2018, 06:28 PM   #61
Dryer sheet aficionado
 
Join Date: Nov 2010
Location: Crossville
Posts: 26
I find most of the calculators to be amusing when they tell you how much you can spend. My score on the Fidelity on was 150+, but I spend well under what they tell you that you can safely spend. My definition of safe is not as aggressive as theirs, I guess. I would caution people with using some of the calculator spend results nonetheless.
__________________

ychuck46 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 08-07-2018, 06:58 PM   #62
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 2,349
Quote:
Originally Posted by ychuck46 View Post
I find most of the calculators to be amusing when they tell you how much you can spend. My score on the Fidelity on was 150+, but I spend well under what they tell you that you can safely spend. My definition of safe is not as aggressive as theirs, I guess. I would caution people with using some of the calculator spend results nonetheless.
Possibly, but 150+ on the Fidelity calculator which is one of the most conservative out there is a pretty good score. One of the reasons your score is 150+ is because you spend well under what they tell you can spend.
__________________

__________________
TGIM
Dtail is online now   Reply With Quote
Old 08-08-2018, 06:24 AM   #63
Full time employment: Posting here.
 
Join Date: Jun 2017
Location: Western NC
Posts: 932
Yes, I also prefer the Fidelity calculator since it's the most conservative (at its default settings)
ncbill is offline   Reply With Quote
Old 08-08-2018, 07:43 PM   #64
Confused about dryer sheets
 
Join Date: Jan 2012
Location: San Jose
Posts: 2
Apologies if this question has been answered before but I was wondering if anyone has used Personal Capital's planning tool instead? I ask since my accounts are centralized via PC. They use Monte Carlo simulations also, of course.
kashifnoorani is offline   Reply With Quote
Old 08-09-2018, 07:52 AM   #65
Full time employment: Posting here.
wmc1000's Avatar
 
Join Date: Apr 2013
Location: Fishers
Posts: 584
We have used both. Stopped using PC because they called me too many times wanting to review portfolio. I kept telling them I wasn't interested and finally shut down my aggregation on their site.
wmc1000 is offline   Reply With Quote
Old 08-09-2018, 07:55 AM   #66
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 1,917
Quote:
Originally Posted by wmc1000 View Post
We have used both. Stopped using PC because they called me too many times wanting to review portfolio. I kept telling them I wasn't interested and finally shut down my aggregation on their site.
Me too. No longer use PC. I thought the tools were just a bit too simplistic.
COcheesehead is offline   Reply With Quote
Old 08-09-2018, 12:40 PM   #67
Confused about dryer sheets
 
Join Date: Jan 2012
Location: San Jose
Posts: 2
To both wmc1000 & COcheesehead: thanks for replying. I found that the nagging got over after I took one call with their advisor and explained that I invest in low-cost funds and that the PC cost to actively manage would be 5x the cost of investing in these funds

If not PC, where do you guys aggregate (including real estate) which also has robust tools?

I am struggling to create a realistic FIRE plan which my spouse and I can trust.
kashifnoorani is offline   Reply With Quote
Old 08-09-2018, 12:52 PM   #68
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 1,917
Quote:
Originally Posted by kashifnoorani View Post
To both wmc1000 & COcheesehead: thanks for replying. I found that the nagging got over after I took one call with their advisor and explained that I invest in low-cost funds and that the PC cost to actively manage would be 5x the cost of investing in these funds

If not PC, where do you guys aggregate (including real estate) which also has robust tools?

I am struggling to create a realistic FIRE plan which my spouse and I can trust.
I use the Fidelity tool mostly. I like that it has the detailed budget builder and that helps me to not overlook expenses. I tie it into 3rd party accounts so it gives me a universal view.

I also paid for an app called Retire Plan, I think it was $4.99 or something like that. Its good for what if's and has good graphics, but it doesn't do Monte Carlo.

https://itunes.apple.com/us/app/retireplan/id435739013

I-ORP is OK, cumbersome, but it gives you another view.
Firecalc is the classic, but doesn't allow you to build a budget.
COcheesehead is offline   Reply With Quote
Old 08-09-2018, 01:03 PM   #69
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 3,893
Vanguard let’s you add outside accounts though you have to update share quantities manually.

It generates an aggregate AA pie chart based on all your holdings, both VG and outside assets.

Otherwise you can use personal finance software. I used to do it in Quicken but bailed on their subscription scheme so use Bankivity for the Mac.

Also have a Google Sheets spreadsheet with GoogleFinance function which will update share prices everyday.

Don’t have real estate in any of these.
explanade is online now   Reply With Quote
Old 08-10-2018, 12:02 PM   #70
Dryer sheet wannabe
 
Join Date: Aug 2017
Location: Edmonds WA
Posts: 20
Does the Fidelity tool allow you to aggregate both members of a couple, without doubling the money in the shared (non-retirement) Fidelity accounts? For example:
Him - 401(k), various IRAs
Her - various IRAs, couple of pensions (managed by Fidelity)
Joint - various investment accounts

Right now I handle this in Personal Capital and Quicken (excluding the pensions), but it would be nice if I could go (easily) straight to the horse's mouth (Fidelity) for this.

(with the exception of one small pension, all our eggs are in the Fidelity basket)

Thanks
wenglish is offline   Reply With Quote
Old 08-10-2018, 12:08 PM   #71
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 1,917
Quote:
Originally Posted by wenglish View Post
Does the Fidelity tool allow you to aggregate both members of a couple, without doubling the money in the shared (non-retirement) Fidelity accounts? For example:
Him - 401(k), various IRAs
Her - various IRAs, couple of pensions (managed by Fidelity)
Joint - various investment accounts

Right now I handle this in Personal Capital and Quicken (excluding the pensions), but it would be nice if I could go (easily) straight to the horse's mouth (Fidelity) for this.

(with the exception of one small pension, all our eggs are in the Fidelity basket)

Thanks
Go under Accounts and Income sources and you add/manage anything you want.
COcheesehead is offline   Reply With Quote
Old 08-11-2018, 06:25 AM   #72
Recycles dryer sheets
 
Join Date: Aug 2015
Posts: 309
Since I am close to pulling the plug in 600 days at 62, it may be easier for me to use the calculators. I don’t need live aggregate account info in the calculators, manual entry is preferred. I get pretty similar numbers from both ORP and RIP in 90% success rate. My only gripes with RIP is the lack of detail as to funding sources and taxes per year, and the average market return (50% success rate) seems extremely high. If RIP in 90% mode is conservative than I am very pleased. ORP really shines in the what if category, especially in the IRA to Roth conversion and the pay taxes now vs pay taxes later comparisons. In Monte Carlo mode, 90% success is consistent with others. Of course my RE is planned at 62, so, much shorter than many here and no high HC insurance costs means its a simpler prediction.

DW is not financially saavy and thinks I am over thinking everything. “People have been retiring with way less forever and way before computers and did just fine.” I always tell her my definition of “did just fine” must be way different than hers.
Perryinva is offline   Reply With Quote
Old 08-11-2018, 07:51 AM   #73
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 1,917
Quote:
Originally Posted by Perryinva View Post
Since I am close to pulling the plug in 600 days at 62, it may be easier for me to use the calculators. I don’t need live aggregate account info in the calculators, manual entry is preferred. I get pretty similar numbers from both ORP and RIP in 90% success rate. My only gripes with RIP is the lack of detail as to funding sources and taxes per year, and the average market return (50% success rate) seems extremely high. If RIP in 90% mode is conservative than I am very pleased. ORP really shines in the what if category, especially in the IRA to Roth conversion and the pay taxes now vs pay taxes later comparisons. In Monte Carlo mode, 90% success is consistent with others. Of course my RE is planned at 62, so, much shorter than many here and no high HC insurance costs means its a simpler prediction.

DW is not financially saavy and thinks I am over thinking everything. “People have been retiring with way less forever and way before computers and did just fine.” I always tell her my definition of “did just fine” must be way different than hers.
My Dad retired at 62 with SS, a small union pension and $40,000 in CD’s. This was back in the ‘80’s. He owned the house. Traveled overseas. Ate out. Enjoyed life. I sometimes think, I too am over thinking it.
COcheesehead is offline   Reply With Quote
Old 08-11-2018, 08:00 AM   #74
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 2,349
My 2 cents is that sure many people did just fine in retirement without using pre retirement calculators and various advice, but perhaps there is/was a small but significant enough % who didn't do well, but we don't hear of it.
My guess is that for the folks on this site who follow some structure/discipline in their investing/withdrawal strategies, it will lead to a minimum number of situations where they run out of monies.
__________________
TGIM
Dtail is online now   Reply With Quote
Old 08-11-2018, 05:34 PM   #75
Recycles dryer sheets
 
Join Date: Aug 2015
Posts: 309
And it does appear once someone is already retired in RIP, the score goes away. I joined as a guest and was able to see the score, also 150+.
Perryinva is offline   Reply With Quote
Old 08-11-2018, 06:32 PM   #76
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 2,349
Quote:
Originally Posted by Perryinva View Post
And it does appear once someone is already retired in RIP, the score goes away. I joined as a guest and was able to see the score, also 150+.
You are good to go then.
What many of us do is to keep pushing the retirement out one more year, so as to be able to update it through retirement if one wishes.
__________________
TGIM
Dtail is online now   Reply With Quote
Old 08-12-2018, 07:41 AM   #77
Full time employment: Posting here.
wmc1000's Avatar
 
Join Date: Apr 2013
Location: Fishers
Posts: 584
Quote:
Originally Posted by Perryinva View Post
And it does appear once someone is already retired in RIP, the score goes away. I joined as a guest and was able to see the score, also 150+.
Instead of checking the retired box I simply check the still working box and put in salary of $1 which then shows me a score.
wmc1000 is offline   Reply With Quote
Old 08-12-2018, 07:46 AM   #78
Full time employment: Posting here.
wmc1000's Avatar
 
Join Date: Apr 2013
Location: Fishers
Posts: 584
Quote:
Originally Posted by kashifnoorani View Post
To both wmc1000 & COcheesehead: thanks for replying. I found that the nagging got over after I took one call with their advisor and explained that I invest in low-cost funds and that the PC cost to actively manage would be 5x the cost of investing in these funds

If not PC, where do you guys aggregate (including real estate) which also has robust tools?

I am struggling to create a realistic FIRE plan which my spouse and I can trust.
In addition to Fidelity I use a Northwestern Mutual Financial Network site, (NMFN.com), as I have a policy with them. I use Fidelity RIP and FIRECALC as my 2 retirement modeling sites.

As to PC I did speak to them once and let them know I used their site simply as an aggregator to double check my other aggregation tools but after about 6 months or so the calls started again.
wmc1000 is offline   Reply With Quote
Old 08-12-2018, 07:50 AM   #79
Full time employment: Posting here.
wmc1000's Avatar
 
Join Date: Apr 2013
Location: Fishers
Posts: 584
Quote:
Originally Posted by COcheesehead View Post
My Dad retired at 62 with SS, a small union pension and $40,000 in CD’s. This was back in the ‘80’s. He owned the house. Traveled overseas. Ate out. Enjoyed life. I sometimes think, I too am over thinking it.
My dad did the same although his pension and CD numbers were somewhat higher. He is now 92 and his net worth continues to climb as the burn rate substantially decreased the last 10 years or so. I learned my LBYM's mantra from him.
wmc1000 is offline   Reply With Quote
Old 08-12-2018, 08:02 AM   #80
Full time employment: Posting here.
 
Join Date: Nov 2014
Location: Austin
Posts: 585
Quote:
Originally Posted by wmc1000 View Post
In addition to Fidelity I use a Northwestern Mutual Financial Network site, (NMFN.com), as I have a policy with them. I use Fidelity RIP and FIRECALC as my 2 retirement modeling sites.

As to PC I did speak to them once and let them know I used their site simply as an aggregator to double check my other aggregation tools but after about 6 months or so the calls started again.
The tools can never give you 100% certainty, but...
I use Fido RIP because a good deal of my portfolio is there and the aggregator works good enough.

I use Firecalc even though it doesn't have all of the investments I use, for example no intermediate treasuries for whatever reason, so I have to cobble a rough equivalent out of short term and long term bonds, which it does have.

I also use the "Funded Ratio" as described by BobK over on Bogleheads. It's the NPV of the sum of future cash inflows (returns, pensions, SS, sale of a house, etc) divided by the NPV of future liabilities (expenses) A ratio >1.0 means you're there. But you do have to guess at future real returns and future real expenses. Note that this takes away the *when* that future inflows/expenses will happen so when I do retire, I will use a variable withdrawal method, using my own spreadsheet.
__________________

big-papa 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
Strange results from Fidelity's RIP brianc629 FIRE and Money 12 08-16-2014 10:48 AM
RIP calculator from Fidelity jkern FIRE and Money 13 02-14-2014 08:49 AM
Fidelity RIP tmm99 FIRE and Money 9 12-20-2013 12:56 AM
Fidelity RIP and Firecalc RetiringAt55 FIRE and Money 21 08-27-2013 09:25 PM
Firecalc vs Fidelity RIP Huston55 FIRECalc support 41 04-25-2012 02:10 PM

» Quick Links

 
All times are GMT -6. The time now is 10:15 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.