Camas Lilly
Recycles dryer sheets
- Joined
- Sep 18, 2007
- Messages
- 318
If I can get 100% success in Firecalc using several different scenarios, how many others do you think I need? I can get there on another site, Marketwatch I think, but then there are others that just are way off, I am not real clear if I am entering the correct information and doesn't display details about how it is calculating the results or how much draw it is taking. The worst is the site from my financial planner, which shows a whopping 25% success rate, but I do realize he wants to manage our money, so I don't take his tools too seriously.
I have tracked our expenses for a few years, have always run a tight monthly budget and set aside money for those annual and unexpected expenses. I have figured multiple ways of paying for health care (61/DH67) and have three different budgets. One we would get by on, the next-ideally, the third-everything we would ever need and more. I can comfortably hit budget no 2 and I am fine with that. There's wiggle room either way.
My question is if I know how much our income is, how much our expenses will be, and what % I want to draw, does it really matter if I don't need to draw any more than 3.5%? Isn't that the number you need to stay at or under and you will "never" run out of money?
We will have two SS incomes and a pension. We would maybe want to draw up to 5% the first couple of years as we will be moving halfway across the US and then back to 3-3.5% from then on.
Although I would like to use another site that is easy to use, I was wondering if I am making this too hard for myself? There's not really any other variables but income, expenses and draw $/% to hit budget is there?
I have tracked our expenses for a few years, have always run a tight monthly budget and set aside money for those annual and unexpected expenses. I have figured multiple ways of paying for health care (61/DH67) and have three different budgets. One we would get by on, the next-ideally, the third-everything we would ever need and more. I can comfortably hit budget no 2 and I am fine with that. There's wiggle room either way.
My question is if I know how much our income is, how much our expenses will be, and what % I want to draw, does it really matter if I don't need to draw any more than 3.5%? Isn't that the number you need to stay at or under and you will "never" run out of money?
We will have two SS incomes and a pension. We would maybe want to draw up to 5% the first couple of years as we will be moving halfway across the US and then back to 3-3.5% from then on.
Although I would like to use another site that is easy to use, I was wondering if I am making this too hard for myself? There's not really any other variables but income, expenses and draw $/% to hit budget is there?