EarlyRetire Pro software?

[bulbar]

Has anybody used this software? It's sold by Hamilton. It looks very good to me at first glance. Looks very detailed on taxes for instance.

Early Retirement Software: EarlyRetire Pro

 

[2B]

I didn't bother following your link. Determining whether you are financially ready to retire is more of an approximation. There are so many variables and things in constant flux you are essentially measuring with a thick, knotted rope. You aren't going to get 3 decimal places out of any software.

FireCalc and ORP are good enough guestimaters for me.

 

[galeno]

FireCalc and ORP are free and all that we need for our FIRE.

 

[steelyman]

I took a quick look at the overview. I think the topics covered are known by many here.

I see they have a free trial, so you could get a feel as to whether it might be useful to you that way. It's like a diet or exercise program: whatever works for you and you will stick with might be your solution.

Or you can follow e-r.org, which is like one giant neural network for early retirement. Or think/rant tank.

 

[bulbar]

I guess I'm looking for more detail because I'm nearing retirement. I don't want to retire on just a FireCalc approximation, although I do like FireCalc and ORP. I also like the Flexible Retirement Planner and it does a good job I think on taxes. Probably over thinking it but....

 

[Bestwifeever]

You should use it and compare the results with FIREcalc and ORP and report back.

 

[bulbar]

yes, free trial is good idea.

 

[bulbar]

ok Bestwife I will

 

[REWahoo]

I'm not comfortable paying for retirement software when there are a couple of dozen free calculators out there, many of them very good.

The Best Retirement Calculators - Can I Retire Yet?

Plus, I see the site charges ($50) for an upgrade if you have an older version of the ($100) software. Not a road I want to go down.

And even if this is the slickest, best, most accurate, comprehensive program on retirement in the universe, everyone needs to understand what it is telling you and why. We discuss those strategies on this forum every day, and the education is free.

EDIT: Yes, a free trial is definitely worth pursuing.

 

[bulbar]

Yeah, I've reviewed that article and also the more recent one and I've looked at every free calculator out there and used them all. They all converge on about the same answer but before I actually pull the trigger I want something very rigorous. I'll try it out and report back

 

[REWahoo]

...I've looked at every free calculator out there and used them all. They all converge on about the same answer...

I doubt 'one more calculator' will result in anything significantly different, but I was where you were at one time ("Measure with a micrometer, ...) so I understand your search for "the" answer.

 

[Travelwanted]

Yeah, I've reviewed that article and also the more recent one and I've looked at every free calculator out there and used them all. They all converge on about the same answer but before I actually pull the trigger I want something very rigorous. I'll try it out and report back

Lol...I don't think ANY calculator will tell you what you want to know. That you CAN retire with 100% assurance. It is not a criticism. I feel the same way. I have run EVERY calculator available (for free). Still not convinced. . .

 

[Lisa99]

I played around with it and the same variables that I use in FireCalc that give me a 95% probability of success results in only a 67% chance in the OP's tool.

No idea what where the differences are but FireCalc, Quicken, ORP, and Fidelity's RIP tool all produce similar results so I'm not going to try to figure out why this new tool is wildly different.

 

[Options]

Lol...I don't think ANY calculator will tell you what you want to know. That you CAN retire with 100% assurance. It is not a criticism. I feel the same way. I have run EVERY calculator available (for free). Still not convinced. . .

+1
This.

 

[donheff]

I played around with it and the same variables that I use in FireCalc that give me a 95% probability of success results in only a 67% chance in the OP's tool.

No idea what where the differences are but FireCalc, Quicken, ORP, and Fidelity's RIP tool all produce similar results so I'm not going to try to figure out why this new tool is wildly different.

Maybe they have some CFPs on staff who can help you sort it out. For a fee.

 

[photoguy]

It seems to be based on Monte Carlo simulation but they don't publish the details anywhere on their site. Unless they provide it with the program, I think it's worthless as you won't understand the assumptions behind it.

 

[prudent_one]

The feature that would appeal to me is guidance on how to maximize the ACA subsidy. I know the thresholds but would be curious to know the strategy they advise.