Am I using FIRECalc correctly?

[Planner]

Could someone please check my calcs to see if I'm using the calculator correctly?

My entries:
$1.4M portfolio
Retire 2014 (age 52)
40 year plan
100% success rate
Pension starting 2017 - $14016 (frozen, no COLA)
SS starting 2024 (age 62, assuming zero future income) - $20136
Spouse SS 2024 (age 62, assuming zero future income) - $7092
Equities 60%all other values default

It looks like I get 100% success rate up to $70k....is this correct?

Thanks for your help!!

 

[REWahoo]

I got the same results as you.

 

[Planner]

I got the same results as you.

Thanks much for checking!

So, as I understand the default grows this $70k spending amount by the CPI rate of inflation over time (and all figures entered are present day dollars)....correct?

 

[REWahoo]

Correct.

 

[Planner]

Perfect. Thanks again.

 

[explanade]

Man the way you enter different variables in FireCalc is a PITA.

BTW, switching inflation from CPI to say 3.5% makes a pretty big difference.

 

[Planner]

Yes......Going from CPI to 3.5% dropped the withdrawal from $70k to $63k.