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Old 05-06-2013, 12:35 PM   #21
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It is interesting that RIP tool is more conservative than FIRECalc.
Actually, I have the opposite impression. For us, FIRECalc is more conservative than the RIP tool, and actually just about any other calculator I've tried. But I trust FIRECalc more - it collects more data than most.
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Old 05-08-2013, 05:00 AM   #22
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Originally Posted by fh2000 View Post
My calculation on FIRECalc says 100%. I just ran Fidelity RIP and see it shows 90%. I think this is how RIP shows the result:

"Historical Likelihood of Your Money Lasting Throughout Retirement3 (based on the assumption that markets perform significantly lower than the historical average) Learn about Historical Performance Analysis ---- 90%"

It is interesting that RIP tool is more conservative than FIRECalc.
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Originally Posted by SumDay View Post
Actually, I have the opposite impression. For us, FIRECalc is more conservative than the RIP tool, and actually just about any other calculator I've tried. But I trust FIRECalc more - it collects more data than most.
You can adjust the confidence in RIP. I use 95%. It's in the tabs after you run scenarios.
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Old 05-08-2013, 07:17 AM   #23
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I also use both calculators regularly. I get a little more conservative result out of RIP as well. You need to keep in mind that the RIP tool factors in tax where firecalc doesn't. Can make a difference if the bulk of your assets are in tax advantaged accounts. For me 2/3 of my assets are outside my 401k/IRA's.
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