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Flexible Retirement Planner?
Old 10-09-2013, 12:26 PM   #1
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Flexible Retirement Planner?

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
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Old 10-09-2013, 07:21 PM   #2
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I like the one you do the best because it is simple. Others love this one
FIRECalc: A different kind of retirement calculator
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Old 10-09-2013, 09:32 PM   #3
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Darrow Kirkpatrick has done calculator evaluations, including the one in the OP.

Link to his eval and website below.

The 3 Best Free Retirement Calculators - Can I Retire Yet?
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Old 10-09-2013, 09:51 PM   #4
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Originally Posted by Huston55 View Post
Darrow Kirkpatrick has done calculator evaluations, including the one in the OP.

Link to his eval and website below.

The 3 Best Free Retirement Calculators - Can I Retire Yet?
He did a second round of evaluations as well:

The Best Free Retirement Calculators: Round 2 - Can I Retire Yet?
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Old 10-09-2013, 10:33 PM   #5
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I mistook 'flexible retirement planner' to mean a financial planner who is also a yoga practitioner
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Old 10-10-2013, 05:23 AM   #6
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Originally Posted by REWahoo View Post
He did a second round of evaluations as well:

The Best Free Retirement Calculators: Round 2 - Can I Retire Yet?
I enjoyed reading this article. It really highlights the differences between the available calculators. It also reinforces my belief that you have to be flexible when spending down your nest egg. There are just too many variables to be completely sure of anything.
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Old 10-13-2013, 02:08 AM   #7
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I enjoyed reading this article. It really highlights the differences between the available calculators. It also reinforces my belief that you have to be flexible when spending down your nest egg. There are just too many variables to be completely sure of anything.
thanks for the reference. Interesting that the flexible retirement planner is most pessimistic. I agree that flexible spending is key to portfolio longevity.
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Old 10-13-2013, 08:19 AM   #8
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Originally Posted by Hangingitup View Post
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.
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Old 10-13-2013, 11:58 AM   #9
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I don't quite get the flexible retirement planner results--what does 96% success, 24% shortfall average mean? If we have 24% less money each year than we need, how can we have a good success rate?
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