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Old 08-20-2012, 04:55 PM   #21
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I've been with Fidelity for the past couple of decades and service/execution, phone or internet, has been good. I also find their online tools and research to be useful.
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Old 08-20-2012, 05:39 PM   #22
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I like Fidelity's retirement planning tools far better than Vanguard's. Vanguard's Financial Engine's tool has to be "tricked" if you are already retired and it comes up with a "safe" withdrawal amount that is far higher than Firecalc and just about anybody else's calculator hence I'm highly suspicious.
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Old 08-20-2012, 06:04 PM   #23
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I have both Fido and Vanguard and like both. Fidelity has a new center near me and have seminars from time to time. The account manager they assigned me is very helpfully also. When I set up a withdrawal, it was easy to have both federal and state taxes taken out. Vanguard only allowed Federal.

They both have plus and minuses.
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Old 08-20-2012, 06:17 PM   #24
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Originally Posted by ejman View Post
Vanguard's Financial Engine's tool has to be "tricked" if you are already retired and it comes up with a "safe" withdrawal amount that is far higher than Firecalc and just about anybody else's calculator hence I'm highly suspicious.
That's because you can't define/override the end date of the plan. VG's FE use standard longivity tables unlike FIRECalc or FIDO's RIP.

And yes, it returns higher annual spend rates; IOW it does not allow you to become conserative in your personal forecast.
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Old 08-20-2012, 07:25 PM   #25
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I'd recommend Vanguard, Fidelity or Schwab without reservation based on my personal,experience.
+1

People will have their own individual preferences here based on their own priorities, but in reality I think it's hard to go wrong with any of these three.
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Old 08-21-2012, 10:38 AM   #26
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Originally Posted by ejman View Post
I like Fidelity's retirement planning tools far better than Vanguard's. Vanguard's Financial Engine's tool has to be "tricked" if you are already retired and it comes up with a "safe" withdrawal amount that is far higher than Firecalc and just about anybody else's calculator hence I'm highly suspicious.
How do you trick Financial Engine's tool, if you are already retired? I find it irritating that you can't show a retirement date.
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Old 08-21-2012, 11:12 AM   #27
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How do you trick Financial Engine's tool, if you are already retired? I find it irritating that you can't show a retirement date.
Under the tab YOUR PROFILE enter the retirement age. The program won't allow you to enter a retirement age earlier than your current age. Two ways around it - move your retirement forward or adjust your age to suit the program. Frankly I don't think this program is the right tool.
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Old 08-21-2012, 12:35 PM   #28
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Quote:
Originally Posted by ejman View Post
I like Fidelity's retirement planning tools far better than Vanguard's. Vanguard's Financial Engine's tool has to be "tricked" if you are already retired and it comes up with a "safe" withdrawal amount that is far higher than Firecalc and just about anybody else's calculator hence I'm highly suspicious.
FE projects retirement income as an annuity with the premise that you plan to spend your portfolio before you die.

I only use FE as an asset allocation tool and funds evaluator rather than a retirement income calculator
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