I enter the following in Firecalc:
Start Here:
Spending: Leave blank
Portfolio: 650000
Years: 35
Other Income/Spending:
SS: Me, 27300, 0 year
Spouse, 12000, 5 year
Pension/Off Chart
Pension Income Selected: 7400, 0 years
Not Retired: 0
how much to add: 0 (already retired)
Spending Models:
Select CPI
Select Constant spending power
Your portfolio:
.18%
Total Market, Long interest rate
62% stocks
Investigate:
Success Rate 100%
Select Spending Level
Press "Submit"
Firecalc Results:
A spending level of $63,556 provided a success rate of 100.0%
Now, I change ONLY the following:
Pension/Off Chart
Pension Income Selected: 7400, 0 years
Off Chart Spending, 15400, 0 (immediate)
Pension Income: 11600, 30 (offset mortgage portion of payment once paid off)
Press Submit:
Firecalc Results:
A spending level of $55,942 provided a success rate of 100.0%
The difference in 100% spending level is around $7600 while the payment is $15400.
Does this mean I can only spend $56k TOTAL?
Or does it mean that I can spend 56K and make the mortgage payment, too - for a total spending rate of ~$71,400?
I found that the "$11600 starting after 30 years" makes a negligible difference.
Start Here:
Spending: Leave blank
Portfolio: 650000
Years: 35
Other Income/Spending:
SS: Me, 27300, 0 year
Spouse, 12000, 5 year
Pension/Off Chart
Pension Income Selected: 7400, 0 years
Not Retired: 0
how much to add: 0 (already retired)
Spending Models:
Select CPI
Select Constant spending power
Your portfolio:
.18%
Total Market, Long interest rate
62% stocks
Investigate:
Success Rate 100%
Select Spending Level
Press "Submit"
Firecalc Results:
A spending level of $63,556 provided a success rate of 100.0%
Now, I change ONLY the following:
Pension/Off Chart
Pension Income Selected: 7400, 0 years
Off Chart Spending, 15400, 0 (immediate)
Pension Income: 11600, 30 (offset mortgage portion of payment once paid off)
Press Submit:
Firecalc Results:
A spending level of $55,942 provided a success rate of 100.0%
The difference in 100% spending level is around $7600 while the payment is $15400.
Does this mean I can only spend $56k TOTAL?
Or does it mean that I can spend 56K and make the mortgage payment, too - for a total spending rate of ~$71,400?
I found that the "$11600 starting after 30 years" makes a negligible difference.