Originally Posted by Hangingitup
I stumbled on this (link below) recently. Seems to be a pretty good simple calculator that includes all the basic stuff as user inputs (including variable tax and inflation rates, initial portfolio values (taxable,tax free, tax deferred)) plus a nice section for adding additional income, pension details, varying return rates over the years. Finally they have a nice graphical sensitivity analysis section where you can see for instance, the effect of various return rates on portfolio longevity for different yearly incomes. Has anyone played with this calculator? Any comments?
The Flexible Retirement Planner | A financial planning tool powered by Monte Carlo Simulation
Thanks for mentioning this calculator. Just downloaded the free demo version and found the tool to be "engaging"--ok, some may call it playing. I needed something like this to compare results with various advisor pitches.
It is not as simple as most of the online calculators, but it does force you to consider all of the required categories of input. You do have to use custom inputs, as I found, to include spouse pension, IRA, etc. There are help files on the internet, and a forum where you can ask questions. If you're so inclined, you can donate $10-20 to get the "demo" tag removed form printing, etc.
The emphasis in this tool is on the flexibility you can apply. You can turn off or modify everything that affects the situation. So I see this as a program you would continue to use, rather than running a one-off scenario.
If you have an application that serves your needs, you may want to stay away from this one, as I found it too much fun to play with--more fun than the free dinners from the advisors who keep mailing invitations.