What does a year start in FireCalc ?

[23window]

FC allows you to enter a year for quite a few events - - - when to retire, when to begin receiving SS or pensions, when to add or subtract to your portfolio, etc. I assume, but am not sure, that the event would be measured from today vs. January 1 or some other day. For example, if I say I will retire in 2018, it assumes it is two years from today, and not on 1/1/018. Is that right? It may not make much difference if retirement is 20 years away, but if it 2018 or 2019, it can make a difference. Does anyone know?

 

[REWahoo]

All FIRECalc years begin on January 1.

 

[sayhey24]

All FIRECalc years begin on January 1.

When I leave it at 2016 then change it to 2017 which is only a few days away, it has a significant change in the low,high an d average amounts
Which shouldn't happen in 3-4 days?

Please straighten me out
Thanks 24

 

[REWahoo]

When I leave it at 2016 then change it to 2017 which is only a few days away, it has a significant change in the low,high an d average amounts
Which shouldn't happen in 3-4 days?

Please straighten me out
Thanks 24

FIRECalc works in one year increments. The program doesn't know that 2017 is only 3 days away, it only knows you changed the input from 2016 to 2017, a difference of a full year.

 

[marko]

FIRECalc works in one year increments. The program doesn't know that 2017 is only 3 days away, it only knows you changed the input from 2016 to 2017, a difference of a full year.

IIRC FC also messes up if your SS input is not a current or future year. Even if you started taking SS in 2005, if you enter 2005 you get an incorrect result.

I could be wrong but seems to me I got a strange number once when I entered a past year. Or am I, as often, mistaken?

 

[REWahoo]

IIRC FC also messes up if your SS input is not a current or future year. Even if you started taking SS in 2005, if you enter 2005 you get an incorrect result.

I could be wrong but seems to me I got a strange number once when I entered a past year. Or am I, as often, mistaken?

You are correct:

http://www.early-retirement.org/forums/f36/use-only-current-or-future-dates-for-firecalc-67540.html