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Old 11-09-2015, 06:47 AM   #121
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Thanks, bingybear, but I do have my non-Fido assets manually entered and it even brings them in from the old RIP program. Problem is that it doesn't classify them as "retirement" and although I've done that reclassification multiple times, that's the part that doesn't "stick".
Interesting. I use to have that issue every now and then with the old one. I tried the new and changed inclusions of some accounts and did not seem to have any issues with that.
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Old 11-09-2015, 08:48 AM   #122
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Originally Posted by bingybear View Post
Interesting. I use to have that issue every now and then with the old one. I tried the new and changed inclusions of some accounts and did not seem to have any issues with that.
That's my experience as well... external accounts in the old tool were generally the ones I had trouble with changes "sticking". I haven't noticed that in the new tool.
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Old 11-09-2015, 02:13 PM   #123
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After this chat about the updated tool in Fidelity, I went in and ran through it again. Again I realized why I'm not a huge fan: like most tools, it's calculations are opaque.

Some of the things I ran into...

* The 2015 expenses are significantly higher than 2016 and onward. I didn't see anything within the expense inputs where a one-time expense would have been lurking. The PDF report didn't provide any clues that I could find.

* I liked that they allow you to put medigap expense in with start/end dates...that's good feature.

* Roughly aligns with my spreadsheets and i-orp.

* Chunking in a single federal tax rate seems a little crude.

The bottom line for me is that the user must simply have faith that it's working right, and that it's not doing anything dumb. I did click on the report, and it shows values calculated, one row per year, but the values they show are not enough to explain what's going on behind the scenes. A nice addition, but I wouldn't make it my primary tool.
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Old 11-09-2015, 02:47 PM   #124
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There is a separate PDF outlining the methodology, but I believe that mostly addresses the simulation parameters. Beyond that, I suspect that providing more details may reveal too much of the IP underlying the tool.
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Old 11-09-2015, 04:36 PM   #125
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I've three Scwabb investment accounts that show in Full View that aren't going over to the new tool. Other investment accounts that are in Full View go over.

Real Estate accounts in Full View also aren't going over.

I spent 35 minutes mostly on hold with Fidelity. The first rep didn't know what Full View was. The supervisor said there are often problems with Full View passing data to the Planner, and he was certain the tech support already knew about the problem. He said no Tech Support staff can talk to customers, because they aren't licensed. Crazy!

When from the Planner I go to add or link accounts, a window comes up with accounts from Full View that have been added to the Planner. Guess what, Schwabb accounts show as already added. Yet, they don't show up in the Planners list of accounts, the proper window.

Has anyone spoken with a person at Fidelity that knew of both Full View and of this Planner? What number did you call?

Thanks.
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Old 11-09-2015, 04:47 PM   #126
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Again I realized why I'm not a huge fan: like most tools, it's calculations are opaque.
I agree, but for what it is worth they pass the bounds of reasonableness tests compared to my own spreadsheets, too. The results are in the same ballpark.

A retirement tool from 20 years ago using accurate tax rates of that time period may not have really been that useful in predicting today's tax rates and deductions, so maybe using the one effective tax rate isn't such a big deal. Anyway that is how I'm rationalizing the loss of the old tool.
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Old 11-09-2015, 06:24 PM   #127
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Received a return call from Fidelity. In short, they know it's broken as far as things not coming over from Full View. They'll roll out a fix early next year, hopefully Q1. Until then, set up manual accounts for those accounts that don't come over from Full View. Pretty easy.

I looked around at other Planners about a year ago. I think I'll pick up where I left off. I'm open to suggestions.
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Old 11-16-2015, 01:03 PM   #128
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Has anybody seen "surprises" in estimated RMD values? Besides, starting my RMD a year early (have birthday in Sept) an issue they say is being fixed, I also have RMD amounts that are 12-18k lower than the previous model. When I run the separate RMD tool (not in the RIP), I get values more like I use to see in the old RIP.
The Fido rep thought it was a function of choosing an underperforming market but my old RIP version were tied to the 90% level as well. This is particularly puzzling since the model also assumes taxable accounts are used prior to taping TIRA balances, the estimated IRA balance amounts are not likely to be too different than today and could be much higher (3 years to my first RMD). My asset allocations in the TIRAs are 45% equity 55 ST/Bonds.
Anybody got any thoughts on the shift or is it a glitch?
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Old 11-16-2015, 01:05 PM   #129
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some interesting things i learned about the planner .

inflation adjusting is driven by the type of expenses.

general goods and services are currently at 2.50% , healthcare at 7 % , fixed rate mortgages are zero % . long term care costs 5.505
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Old 11-17-2015, 03:50 AM   #130
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another new tool fidelity has up is the income planning tool . very interesting 28 page report from that tool which i still have to review .
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Old 11-17-2015, 05:42 AM   #131
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another new tool fidelity has up is the income planning tool . very interesting 28 page report from that tool which i still have to review .
Is this new tool on the website?
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Old 11-17-2015, 06:49 AM   #132
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yes it is under the tools section . fidelity income strategy evaluater
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Old 11-17-2015, 07:11 AM   #133
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yes it is under the tools section . fidelity income strategy evaluater
Thanks. It looks like a nice tool.
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Pension cola
Old 11-18-2015, 08:42 AM   #134
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Pension cola

The planner does not appear to account for pensions that are cola'd. I know Firecalc allows you to specify pensions that are cola'd or not cola'd, but I don't see that option in RIP. And looking at the results, it appears to assume no cola. Is this what others have found?
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Old 11-18-2015, 10:42 AM   #135
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Originally Posted by sengsational View Post
After this chat about the updated tool in Fidelity, I went in and ran through it again. Again I realized why I'm not a huge fan: like most tools, it's calculations are opaque.

Some of the things I ran into...

* The 2015 expenses are significantly higher than 2016 and onward. I didn't see anything within the expense inputs where a one-time expense would have been lurking. The PDF report didn't provide any clues that I could find.

Interesting. I didn't have this issue. Did you vary any expenses with start and end dates? That could account for it.

* I liked that they allow you to put medigap expense in with start/end dates...that's good feature.

I'm planning on MA plans so I missed that feature.


* Roughly aligns with my spreadsheets and i-orp.

* Chunking in a single federal tax rate seems a little crude.

Below is how I got around effective tax rate as well as using i-orp


The bottom line for me is that the user must simply have faith that it's working right, and that it's not doing anything dumb. I did click on the report, and it shows values calculated, one row per year, but the values they show are not enough to explain what's going on behind the scenes. A nice addition, but I wouldn't make it my primary tool.

Yes. The lack of detail makes me nervous, but we do what we must and adjust as things become clearer. FRIP and ESPlanner have always my preferred calculators as they have always been the most conservative AFAICT. After losing ESPlanner software in a recent computer crash, I may repurchase.
Here's how I dealt with the effective tax rate:

1) 2 of every 3 PF $ are already in after-tax
2) delaying SS until 70
3) doing roth conversions until 70
4) leaves approx $100K in RMD's @ 70 using 4% tIRA growth projection from 60-70 (yes I know 4% is a forecast, but as samclem pointed out above in this thread (or another?), if PF grows more than that the only downside is I'll have larger PF to take RMD's from--not a bad problem to have)
5) created dummy tax return for years until 70 during roth conversions to estimate effective tax rate, then created another dummy return from 70-95 (end of plan) to estimate ETR when SS and RMD's commence.
6) ETR is 3% until 70, then 0% thereafter due to roth conversions
7) used 3% as ETR in FIDO for duration of retirement (for "padding").

I didn't need i-orp to see the advantage of roth conversions until 70. No conversions causes higher RMD's and SS benefits taxation.
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Old 11-18-2015, 12:43 PM   #136
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The planner does not appear to account for pensions that are cola'd. I know Firecalc allows you to specify pensions that are cola'd or not cola'd, but I don't see that option in RIP. And looking at the results, it appears to assume no cola. Is this what others have found?
I have not verified in the new RIP but I believe you indicate on the setup page for your pension if it is cola or not. It is a check box so you may have "stare" at the page to find it.
If I could not find it, I would probably try setting up a "new" pension to see if it presents the cola option. Pretty sure you will see it there. Then just delete the" old" non cola input.
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Old 12-15-2015, 09:22 AM   #137
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i can't find any way to cola adjust anything i add in either . i tried all the types of accounts they show
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Old 12-15-2015, 10:29 AM   #138
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Here's how I dealt with the effective tax rate:<snip>
I like the idea of estimating effective tax rates by running tax calculations for future set of years. I'd have to do it five times, though, if I wanted to do it right because DW and I are 2 years apart. Both <65, One >65, Both >65, One >70, Both>70. Those ages, of course, correspond to going on Medicare, Social Security, and RMD's.

BTW, You should not have to re-purchase ESPlanner unless it was a real old version. I'd just call them and tell them what happened...I'd bet they'd give you a fresh copy.
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Old 12-15-2015, 11:01 AM   #139
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The planner does not appear to account for pensions that are cola'd. I know Firecalc allows you to specify pensions that are cola'd or not cola'd, but I don't see that option in RIP. And looking at the results, it appears to assume no cola. Is this what others have found?
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i can't find any way to cola adjust anything i add in either . i tried all the types of accounts they show
Same here. Apparently, the tool assumes all pensions are non-COLA. Here's a quote from the "Help & Methodology" link:

Quote:
Estimates of future pension benefits are not adjusted for the Tool's inflation rate.


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Originally Posted by nwsteve View Post
I have not verified in the new RIP but I believe you indicate on the setup page for your pension if it is cola or not. It is a check box so you may have "stare" at the page to find it.
If I could not find it, I would probably try setting up a "new" pension to see if it presents the cola option. Pretty sure you will see it there. Then just delete the" old" non cola input.
I think I found the check box you are referring to. However, checking or unchecking does not adjust future pension benefits for inflation. It just adjusts the starting amount from today to the start date. Here's what pops up when you click the "What is this?" link next to the check box:

Quote:
Checking this box makes it so that this income source is valued at the time you expect to receive it for the purposes of your retirement analysis, accounting for inflation and the number of years until you reach the age at which you expect to begin receiving it. Otherwise, your analysis will reflect this income source valued in today's dollars.
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Old 12-15-2015, 11:10 AM   #140
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kind of silly it increases expenses every year but social security and pensions never get a cola . it makes no sense
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