I tried inputting years in other than whole numbers (e.g. using 2013.5 for a retirement date of 6/30/2013). FIRECalc seems to accept this and run the calculation, but can anyone confirm that it works as intended while including fractions of years? 
Do Fractions of Years Work in FIRECalc?
- Thread starter TorC
- Start date
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
If I recall correctly, FIRECalc looks only at whole years and assumes a January 1 date.
Since FIRECalc is only an indicator/guide this shouldn't be a big deal. Besides, if you need a fraction of a year to get to an acceptable FIRECalc success percentage you probably need to keep working for a while or reduce your planned withdrawal rate.
Since FIRECalc is only an indicator/guide this shouldn't be a big deal. Besides, if you need a fraction of a year to get to an acceptable FIRECalc success percentage you probably need to keep working for a while or reduce your planned withdrawal rate.
Still got my nose to the grindstone...
Yeah, I already have decided to press on for 2 or 3 more years before retiring, especially given the current collection of strange influences on the economy. Trouble is that FIRECalc suggests I might just make it if I pulled the plug right now.
Anyway, I'm intrigued by my little test. If I add the fractions to the whole years, FIRECalc seems to do what you'd expect when compared to the result just using the whole numbers - a "middle" of the year calculation results in larger high end and average $$'s than the whole year, and less than the values when using the next whole year.
Once an engineer, always an engineer I guess.
Yeah, I already have decided to press on for 2 or 3 more years before retiring, especially given the current collection of strange influences on the economy. Trouble is that FIRECalc suggests I might just make it if I pulled the plug right now.
Anyway, I'm intrigued by my little test. If I add the fractions to the whole years, FIRECalc seems to do what you'd expect when compared to the result just using the whole numbers - a "middle" of the year calculation results in larger high end and average $$'s than the whole year, and less than the values when using the next whole year.
Once an engineer, always an engineer I guess.
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Some might say you were attempting to use a micrometer to measure something designed to be cut with an axe. Not me, of course...Once an engineer, always an engineer I guess.
