Fidelity RIP tool

[Floridatennisplayer]

The new RIP seems to be very quick in calculating vs the previous version.

I always run at Under performing market and bump up my expenses. Ran several different options. I'm 60 now, did one retiring at 64 and having myself kick the bucket at various ages. Still show 150 scoring.

Makes me feel better. I turn 61 in March....3 more years!!!!!

[mathjak107]

fidelity just called to cancel tomorrows meeting we had scheduled with the social security planner . it looks like file and suspend and some other options are going to be history . we will reschedule .

[RobLJ]

It first gave me a fail with the 90% below average return setting, but I realized I had entered $500 a month addition to the already generous monthly spending setting and also the investment profile was too conservative. After that, it gave me a 99.

[ziggy29]

Currently 122 here, and that is assuming I quit my part time j*b tomorrow. They think I'm a little too conservative with my AA at about 61/39 overall at age 50, but I'm comfortable with being right around the 60/40 mark.

[RobLJ]

Quote:

Originally Posted by ziggy29 Currently 122 here, and that is assuming I quit my part time j*b tomorrow. They think I'm a little too conservative with my AA at about 61/39 overall at age 50, but I'm comfortable with being right around the 60/40 mark.

It's now 110; I hadn't flagged the cash accounts for retirement (Other), which are considerable, and they ran the simulation based on the allocation in my account and an older version of DW's that put me at 52% stocks, rather than 63%. Couldn't figure out why it was running the simulation based on a wrong number of assets.
40-50% of spending is discretionary, so there is that also.

[eastnortheast]

Quote:

Originally Posted by Alan You may have to create a username and password but not need to hold any funds. A username means you can save all your inputs next time you use the tool.

Hmm. Tried to log in. Asked for last 4 digits of SSN + name + date of birth. I am not a account holder at Fidelity, so it would not let me log in.

Maybe I am doing it wrong, but it appears that maybe now it requires a person to be a Fidelity customer?

By the way - lots of great information and advice on this forum. Thanks!!!

[LOL!]

The new Fidelity tool is broken for me. It just spins its wheel and times out. Has this happened to anyone and did they contact Fidelity for a work-around? Thanks!

[Slow But Steady]

Quote:

Originally Posted by RobLJ It's now 110; I hadn't flagged the cash accounts for retirement (Other), which are considerable, and they ran the simulation based on the allocation in my account and an older version of DW's that put me at 52% stocks, rather than 63%. Couldn't figure out why it was running the simulation based on a wrong number of assets. 40-50% of spending is discretionary, so there is that also.

When you say "currently 122" or "it's now 110," what figure are you quoting?

I'm looking at the FRIP through my 401K, and it seems to be the same old one, as someone else mentioned.

[Corporateburnout]

Quote:

Originally Posted by LOL! The new Fidelity tool is broken for me. It just spins its wheel and times out. Has this happened to anyone and did they contact Fidelity for a work-around? Thanks!

Mine has been working fine. I used it again this morning with no problem.

[Corporateburnout]

Quote:

Originally Posted by Slow But Steady When you say "currently 122" or "it's now 110," what figure are you quoting? I'm looking at the FRIP through my 401K, and it seems to be the same old one, as someone else mentioned.

The new version displays a retirement readiness score on the first page but only if you are not retired. Once your status is changed to retired it will display your current and ending portfolio values.

[jcretire77]

Slow But Steady, My work net benefits 401K login uses the old tool. My wife logged in yesterday to Fidelity to see her other accounts and has access to the new tool. I expect them to be the same soon, just opinion.

[Alan]

Quote:

Originally Posted by eastnortheast Hmm. Tried to log in. Asked for last 4 digits of SSN + name + date of birth. I am not a account holder at Fidelity, so it would not let me log in. Maybe I am doing it wrong, but it appears that maybe now it requires a person to be a Fidelity customer? By the way - lots of great information and advice on this forum. Thanks!!!

That must be another change they've made. DW is a customer but I know they did used to allow non-customers to use the old tool.

Oh well....

[Slow But Steady]

Thanks for the info.

Maybe I'll be retired by the time they update the 401k to the new planner. I'm getting close.

[MRG]

Quote:

Originally Posted by Alan That must be another change they've made. DW is a customer but I know they did used to allow non-customers to use the old tool. Oh well....

I'm not convinved. Think you always had to have an account configured, if you funded it was a separate issue. I have a funded account but I believe that you can still set one up, never fund it and use any Fidelity tools. Of course I could be wrong.

[Alan]

Quote:

Originally Posted by MRG I'm not convinved. Think you always had to have an account configured, if you funded it was a separate issue. I have a funded account but I believe that you can still set one up, never fund it and use any Fidelity tools. Of course I could be wrong.

That is a fine distinction to what I posted but you seem to confirm that you can still use the tool even if you don't have any investments with Fidelity. Simply create an account so you have a username and password.

Thanks for the clarification.

[rodi]

Quote:

Originally Posted by DEC-1982 Rodi, I am trying to understand this better - "fixed tax percentage". For FRIP, based on my reading of the methodology, I thought that the tax rate could be 15% one year, 25% another, based on what it thought the income would be. As an example, if FRIP thought my income for 2015 was less than @94,000 it would use calculations of less than 15%. If FRIP thought my income for 2015 was $100,000 it would use calculations of less than 25%. And all these numbers were best estimates for FRIP of course.

I probably didn't word that correctly... Under the inputs you enter your effective federal and state tax rate. - Since it says "effective" rather than "marginal" - I said "fixed".... Obviously there are some nuances - but I assume it is applying the "effective" tax rate, not looking at your income sources specifically.

I see from other threads there are differences between already retired, and still working - perhaps this is one of those differences. Off to go play with the tool.

[daylatedollarshort]

Quote:

Originally Posted by LOL! The new Fidelity tool is broken for me. It just spins its wheel and times out. Has this happened to anyone and did they contact Fidelity for a work-around? Thanks!

I had something similar happen a few months back, called, was put on hold while someone on the help line talked to someone in IT and everything was fixed by the end of the call. It was very strange as I could not get the RIP to work either though our accounts at Fidelity or even on a different computer logged in as a guest using different data.

[Al18]

I checked on my plan today - I have a Fidelity account. Assets were lower than I originally entered. RIP still had my balances from my non-Fidelity accounts saved, though RIP had them flagged as non-retirement accounts. Once I changed them to retirement accounts, the numbers were essentially the same as my old plan. The new RIP has a new option for calculating Federal and State taxes, and it displays multiple asset balances for both under performing and average market performance. Overall, a welcome upgrade to RIP in my opinion.

[LOL!]

Quote:

Originally Posted by daylatedollarshort I had something similar happen a few months back, called, was put on hold while someone on the help line talked to someone in IT and everything was fixed by the end of the call. It was very strange as I could not get the RIP to work either though our accounts at Fidelity or even on a different computer logged in as a guest using different data.

Thanks for that note. I will give them a call when I have some more time and need to play with it. Right now, I suspect it is because I have entered some things manually to run through the Fidelity Guided Portfolio Summary tool.

[jcretire77]

Ran the new tool, only a 93, on track. Experimented with retiring at turn of year. We run out in 30 years with the under performing market. 4 million with the average market. I use 21% for taxes which should be high. 9K / month, 6K essential.

I like tools that take age based decreases of consumption into account. Maybe I have always missed that in the FIDO RIP tools.

I like the new tool mostly, but there seems to be some easy links that could be added to make negotiating the site easier. Say when I want to edit the assets. Seems like I go through a couple of hops vs directly. Not initially intuitive.