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Retirement calculator
Old 09-17-2018, 11:47 AM   #1
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Retirement calculator

Saw this retirement calculator posted on Reddit and checked it out. Anyone ever used it before?

It's located here: www.flexibleretirementplanner.com

It's monte carlo based. What I liked about it is that I could input my pensions which all start at different ages including some scenarios where the pension started off non cola, then picked up a cola later.
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Old 09-17-2018, 12:20 PM   #2
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Use it all the time.

As you said, easy to model different scenarios - right now I've got 4 different ones loaded.

I downloaded it - runs via Java on locally my Mac.
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Old 09-17-2018, 12:26 PM   #3
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Java may be an issue with this. Some tech gurus do not recommend one has Java installed on their computer for security reasons. I do not know whether any of these issues have been resolved, but I would disable Java on your browser(s) until I knew better.
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Old 09-17-2018, 12:57 PM   #4
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I use it, I found it helpful for income/expenses that only last a certain number of years and shuffling money around. I especially appreciate the Detailed View with "Show More Details" expanded as that shows RMDs and each type of account separately, so I can be sure I have enough funds accessible before 59.5.

Roth conversion: ($45K a year from age 45-55), I set up 3 lines with start/stop years:
1. Tax Deferred Savings of -$15K
2. Tax Free Savings +15K
3. Other Expenses for additional tax cost.

HSA funding out of my taxable accounts which I plan to do until 50
1. Taxable Savings (-$3450) w/ inflation turned on
2. Tax Free Savings (+3450) w/ inflation turned on
3. Other Expense (State only taxes as it will be LTCG).

I also adjusted the Settings so that it always funded at least 85% of my spending level and you can specify what order to take funds.

Its not the only calculator I use, but its been useful for me.
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Old 09-17-2018, 01:14 PM   #5
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Echo what other have said. One of my tools that I use. It was my only tool for a while, but I needed more help with conversions and taxes than it offered so I have added i-orp to my stable. I don't use firecalc except to verify my FRP outputs. My goto these days is my spreadsheet that I have developed that has everything but taxes in it.
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Old 09-17-2018, 04:48 PM   #6
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Quote:
Originally Posted by ShokWaveRider View Post
Java may be an issue with this. Some tech gurus do not recommend one has Java installed on their computer for security reasons. I do not know whether any of these issues have been resolved, but I would disable Java on your browser(s) until I knew better.
Not running it in the browser, only locally on the computer.

Java/Flash/Shockwave are all disabled in my web browser.
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Old 09-17-2018, 05:06 PM   #7
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I use it as one of many calculators. It provides flexibility and reasonable results which can be interpreted.
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Old 09-17-2018, 10:58 PM   #8
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FRP is my favorite retirement calculator. I like that it stores my entries so I can easily go back later to test different scenarios.

I also like that I can enter multiple "additional entries" and select the ones I want to use. For instance, I have a Social Security entry for each age between 62 and 67 for my wife and I, then I can just select the desired age to see how it affects our retirement plan.

I rarely use Firecalc except as a second opinion for the results I get in FRP.

I've tried I-Orp but didn't find it very useful. Maybe I'm doing something wrong, but I prefer FRP.
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Old 09-18-2018, 04:13 PM   #9
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I have not used any 'retirement calculator'.

I have been on a military pension for 17 years. Initially, my wife was working as we got our home built and running. She 'retired' 2 years ago, right now her pension is tiny, but when she reaches 65 then her pension goes up a lot.

Our budget allows us to invest a bit every month.

We both have a few more years to go before we are eligible for SS.

Our cost-of-living is about 80% of my pension. Once we both get SS our living expenses will be closer to maybe 50% of our pension/SS incomes.
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Old 09-20-2018, 09:16 AM   #10
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Quote:
Originally Posted by mountainsoft View Post
FRP is my favorite retirement calculator. I like that it stores my entries so I can easily go back later to test different scenarios.

I also like that I can enter multiple "additional entries" and select the ones I want to use. For instance, I have a Social Security entry for each age between 62 and 67 for my wife and I, then I can just select the desired age to see how it affects our retirement plan.

I rarely use Firecalc except as a second opinion for the results I get in FRP.

I've tried I-Orp but didn't find it very useful. Maybe I'm doing something wrong, but I prefer FRP.
I could have written the exact same thing as above. +1 for FRP. But I always use Firecalc too just to get a second opinion that the green light is really green.
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