Originally Posted by mathjak107
a few differences.
fido automatically increases healthcare and long term care costs by 5.50% a year , fido uses monte carlo simulations to try to find even worse case wscenario's that we could have had but didn't . but , fido uses a 90% success rate for worst case . i much prefer 95 to 100%
so the 90% success rate with the more stressful testing and assumptions comes close to firecalc at 95-100%
That would make sense since we're most likely dealing with a long tail in the distributions - longer even than the worst historical case which is what I use in my own spreadsheet which includes assets not included in Firecalc (like intermediate term treasury bonds).
A question - how do you translate the score Fido gives into a 90% success rate? Or, rather, what score = 90% success rate? What I did was to alter total expenses each time I ran simulations with different SS start dates until I got the same high score.