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Old 09-11-2015, 03:35 PM   #21
Confused about dryer sheets
Join Date: Sep 2015
Location: Manhattan Beach, CA
Posts: 8
Originally Posted by Lakewood90712 View Post
Manhattan Beach ? starter homes usually over 1.5 million, that is high income territory. Inasmuch as taxes are a big issue, especially here in the socialist workers paradise of California, may be wise to retain a good CPA. Mine is well worth the fees charged, and even has free chocolate bars with the 1040 form molded in Send me a PM if you would like a referral
High income... unless you don't have any which is essentially the case with me. I got lucky by buying in here 15 years ago. I do have a local CPA but thanks for the offer!

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Old 09-21-2015, 02:17 PM   #22
rodi's Avatar
Join Date: Apr 2012
Location: San Diego
Posts: 6,733
Originally Posted by jernich View Post
At the risk of asking a dumb question.....
How do you use FIRECalc for estimating withdrawals? I see a cloud of curves in the output. Do you mean you eyeball an average from those to estimate a mean portfolio value year by year?

I use Quicken's planner as well, but as you say it's deterministic so generally only good for a base case, or for examining the effects of different assumptions. I'll have to try i-orp. Like you I want to look at all models. My favorite though is the spreadsheet I built which does a true equity performance Monte Carlo (based on S&P500 going back to 1950) and allows all kinds of input variables which I've added as I become aware of them.
I meant running "what-if" scenarios to see at what point your withdrawals were high enough to make the scenario fail.

There's also a tab labeled "investigate" that allows you to set a success rate (can be 100%) and it spits out the spend amount. You can then subtract out your other income sources (SS, pensions, rent, whatever) to see what the withdrawal could be.

Retired June 2014. No longer an enginerd - now I'm just a nerd.
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consulting, firecalc, income into retirement, tax

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