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Good news on Fidelity Retirement Planner
Old 09-13-2017, 04:33 PM   #1
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Good news on Fidelity Retirement Planner

I use this (along with Firecalc). In the planner it asks you for your monthly expenses, but it was never clear if that was supposed to include taxes or not. I could never find the answer online in their help files, so I just assumed it did. I finally got around to asking them directly, and what you enter on that page does NOT include taxes (it calculates that based on other data you provide later on tax rates).

I was already at a 100% success rate even with worst case assumptions (no Social Security) so this was a bonus.

Larry
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Old 09-13-2017, 04:39 PM   #2
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You're right that the basic input form doesn't make that clear.

But IIRC, it was made clear on the detailed spending category form that the input doesn't include taxes.

It's a great tool, but I got so much more out of it after my FIDO rep showed me how to make it dance.
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Old 09-13-2017, 08:23 PM   #3
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Thanks for that. Whether or not taxes were included was always something I wondered about with that tool - but, since I'm at 100% plus $1,000/Mo. for my planned retirement spend, I just let it slide. Now I guess I'm slightly better off. I run four tools and have just received the 100% "good-to-go" signal on three of them (FIREcalc, Fidelity Retirement Planner and BigERN's backtesting spreadsheet), with Personal Capital telling me I'm at 96%. I'm giving my OFFICIAL notice in 30 days...
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Old 09-13-2017, 09:17 PM   #4
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So you are really T-Minus 30 days.
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Old 09-13-2017, 11:20 PM   #5
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For me, it really helped when I viewed my analysis in table mode. Doing that, you can see the annual affects of taxes and inflation.
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Old 09-13-2017, 11:22 PM   #6
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Quote:
Originally Posted by madsquopper View Post
I use this (along with Firecalc). In the planner it asks you for your monthly expenses, but it was never clear if that was supposed to include taxes or not. I could never find the answer online in their help files, so I just assumed it did. I finally got around to asking them directly, and what you enter on that page does NOT include taxes (it calculates that based on other data you provide later on tax rates).

I was already at a 100% success rate even with worst case assumptions (no Social Security) so this was a bonus.

Larry
Nice job Larry, glad your on the bonus side of the equation, live large and enjoy.
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