dirtbiker
Full time employment: Posting here.
- Joined
- Apr 11, 2019
- Messages
- 630
I've been using the awesome FIRECalc application to do some projections, but I'm unsure of a couple of things.
When I input spending on the "start here" tab:
1. Is this in today's dollars? And then inflation corrected? Or is this the actual amount I will be spending in 2040 (as an example) when I retire.
2. Is the spending value the same as my withdrawal value? Or will the calculator determine my withdrawals based on my spending input plus whatever retirement income I input, and the result is my withdrawal?
When inputting pension incomes, is that in today's dollars and inflation adjusted?
When I input spending on the "start here" tab:
1. Is this in today's dollars? And then inflation corrected? Or is this the actual amount I will be spending in 2040 (as an example) when I retire.
2. Is the spending value the same as my withdrawal value? Or will the calculator determine my withdrawals based on my spending input plus whatever retirement income I input, and the result is my withdrawal?
When inputting pension incomes, is that in today's dollars and inflation adjusted?