Fidelity RIP

[Dtail]

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.

 

[wmc1000]

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]

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]

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.

 

[big-papa]

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.

 

[mhansen265]

When I use the Fidelity retirement planner, I no longer get the retirement score? It used to do this, but no longer. Was this a change to the planner. I do love the this planer!

 

[big-papa]

When I use the Fidelity retirement planner, I no longer get the retirement score? It used to do this, but no longer. Was this a change to the planner. I do love the this planer!

You won't get the score if your current age is at or past the age that you put in RIP for your first year of retirement - it considers you already retired.

 

[explanade]

The score is for the first year or all of your retirement?

Does this new version also generate the annual beginning and ending balances and the withdrawal amounts?

 

[Al18]

The score is for the first year or all of your retirement?

Does this new version also generate the annual beginning and ending balances and the withdrawal amounts?

The retirement score is calculated based on your full retirement.


The Retirement Analysis report since 2015 has given you a detailed, year by year listing of your income sources, expenses, beginning and ending balance for your entire retirement.

 

[mhansen265]

Yeah, my wife is already retired and I have her marked as such. When I changed it the score came back. Thanks
!

 

[Dtail]

Yeah, my wife is already retired and I have her marked as such. When I changed it the score came back. Thanks
!

I think you can also put in a choice of "Neither" for one of you, but don't remember how.

 

[COcheesehead]

I think you can also put in a choice of "Neither" for one of you, but don't remember how.

I think it’s just a check box in the user profiles.

 

[imoldernu]

Finally decided to try this thread, so after ten minutes of searching, couldn't find anything bur references to it, here, in /bobleheads and an several more retirement sites', including ER.

The Fidelity site features 42 calculators for everything in that could possibly involve money. Didn't see anything that said Fidelity RIP.

Guess I'm too impatient, but looks like I'll miss out.

 

[Dtail]

Finally decided to try this thread, so after ten minutes of searching, couldn't find anything bur references to it, here, in /bobleheads and an several more retirement sites', including ER.

The Fidelity site features 42 calculators for everything in that could possibly involve money. Didn't see anything that said Fidelity RIP.

Guess I'm too impatient, but looks like I'll miss out.

See post #18. It is not called RIP anymore, even though many posters still use that term.

 

[COcheesehead]

Finally decided to try this thread, so after ten minutes of searching, couldn't find anything bur references to it, here, in /bobleheads and an several more retirement sites', including ER.

The Fidelity site features 42 calculators for everything in that could possibly involve money. Didn't see anything that said Fidelity RIP.

Guess I'm too impatient, but looks like I'll miss out.

I keyed in one search.... first link.

https://www.fidelity.com/calculators-tools/PGCretirement-score

 

[nassa]

Greetings,

I’ve been using this tool for a while now. The Fidelity retirement score and data show that I could take substantially less risk in my portfolio (percent allocated to equities) to meet my spending goals with the well below market/90% confidence estimate. However, I have yet to dial back my exposure to a level close to what it shows I can and have a high likelihood of success.

I’m curious, has anyone used the results from this or similar calculators to set their equity allocation as part of their thinking around the need, ability and willingness to take risk? If so, how much weight do you put in the tool’s data when determining your equity allocation?

 

[Dtail]

Greetings,

I’ve been using this tool for a while now. The Fidelity retirement score and data show that I could take substantially less risk in my portfolio (percent allocated to equities) to meet my spending goals with the well below market/90% confidence estimate. However, I have yet to dial back my exposure to a level close to what it shows I can and have a high likelihood of success.

I’m curious, has anyone used the results from this or similar calculators to set their equity allocation as part of their thinking around the need, ability and willingness to take risk? If so, how much weight do you put in the tool’s data when determining your equity allocation?

Welcome to our forum.
From my standpoint and I use Fidelity heavily, I never have used it from the AA decision making standpoint, but on the flip side to assist in the spending budget aspect.

 

[ESKyoko]

Hoping someone can answer this question. When I have my Estimated Retirement Expenses input as a lump monthly estimate, I get a score of 102. But when I input as detailed monthly expenses, even though the total amount is the same, my score drops to 93 (with no other parameter changes).

 

[TNBigfoot]

Hoping someone can answer this question. When I have my Estimated Retirement Expenses input as a lump monthly estimate, I get a score of 102. But when I input as detailed monthly expenses, even though the total amount is the same, my score drops to 93 (with no other parameter changes).

I have seen this as well however have not run across an answer.

 

[COcheesehead]

Hoping someone can answer this question. When I have my Estimated Retirement Expenses input as a lump monthly estimate, I get a score of 102. But when I input as detailed monthly expenses, even though the total amount is the same, my score drops to 93 (with no other parameter changes).

Inflation rates on healthcare costs are higher in the calculator, so if you break those out in the detailed plan vs just a lump sum, it may show less of a financial ability to cover those over time.

 

[Dtail]

Inflation rates on healthcare costs are higher in the calculator, so if you break those out in the detailed plan vs just a lump sum, it may show less of a financial ability to cover those over time.

+1
Healthcare costs are calculated at a 5.5% inflation rate vs. 2.5% for everything else.
One other possibility is that rent is calculated as being an expense for a longer period of time vs. mortgage payments, although not sure of the rate differential.

 

[ESKyoko]

Don't think it's mortgage/rent because I'll be paid off by my proposed retirement date so I don't have anything input for that. As for health costs, it may be that, but I would think they make an assumption on what percentage of your monthly expenses are for health care, and apply the escalation factor to that. In my case, I don't think my health care costs would higher than average. Probably lower because I'll still be able to pay my Company's group rate until medicare kicks in, and at that point they will pay for supplemental insurance.

 

[COcheesehead]

Don't think it's mortgage/rent because I'll be paid off by my proposed retirement date so I don't have anything input for that. As for health costs, it may be that, but I would think they make an assumption on what percentage of your monthly expenses are for health care, and apply the escalation factor to that. In my case, I don't think my health care costs would higher than average. Probably lower because I'll still be able to pay my Company's group rate until medicare kicks in, and at that point they will pay for supplemental insurance.

It’s not whether your individual HC costs are higher or lower, but it’s the inflation rate associated with those costs that you specify in the detailed vs lump some. They would have no way to estimate HC in your lump some input.

 

[Dtail]

It’s not whether your individual HC costs are higher or lower, but it’s the inflation rate associated with those costs that you specify in the detailed vs lump some. They would have no way to estimate HC in your lump some input.

That is an interesting point that lindakoy raises. It would seem logical that Fidelity would/could apply some percentage of medical expenses from a total lump sum budget, but probably doesn't.

Perhaps lindakoy could input all the numbers in one example with the estimated medical vs. another example with no medical and apply the expected medical to another category. The total expenses would be the same, but the retirement number should be different.

 

[TNBigfoot]

It’s not whether your individual HC costs are higher or lower, but it’s the inflation rate associated with those costs that you specify in the detailed vs lump some. They would have no way to estimate HC in your lump some input.

I think Cocheesehead has the answer regarding the inflation rate on medical. It is assumed to be 2.5 if spend is Inputted as a bulk number but is the detail is used, the medical portion is inflated at the higher level

The biggest issue I have with the FIDO planner is the inability to modify the inflation assumptions