The way you have done Firecalc is just the way I think. Being able to change any variable and see the results is wonderful. I know how complicated that sort of spreadsheet can get, having written something similar for a business plan involving multiple tier commissions.
I'm going to have to play with this; & donate when my real computer is fixed because I don't want passwords going thru this one...
It would be interesting to see vertical bars on the "spagetti" chart showing the odds of the portfolio lasting "at least this many" years. For myself, I like to think in terms of living a range of years ("25-35"), so it would be good to see the incremental odds of portfolio sufficiency year by year.
I'd think I'd like to know the _median_ value of the portfolio, as well as the average.
I don't know of any calculator that includes the chance of a sudden major increase in expenses due to going to a nursing home. Firecalc can do it as an OFF CHART item.
Same for losing SS or Pension benefits when a spouse dies. That could be a major loss of income. It can be handled the same way.
Maybe there should be more data entry lines for that sort of thing.
For couples it would be useful if it could tell you "the portfolio succeeds if you die not earlier than..." and the same for the Spouse. That would require explicit notation of which spouse is providing which incomes.
There could be "sliders" at the bottom of the odds chart for various things -- slide to denote the year in which one spouse dies, or goes into the home, etc. That would require some fancy HTML to "animate" the chart. Somebody could get college course credit for making it a project.
It would be useful to ask permission to collect & collate anonymous results. If people enter their actual situation, what fraction of real portfolios fail? Lots of sample bias towards the type of person who tries to pay attention (maybe starting too late...).
I'm going to have to play with this; & donate when my real computer is fixed because I don't want passwords going thru this one...
It would be interesting to see vertical bars on the "spagetti" chart showing the odds of the portfolio lasting "at least this many" years. For myself, I like to think in terms of living a range of years ("25-35"), so it would be good to see the incremental odds of portfolio sufficiency year by year.
I'd think I'd like to know the _median_ value of the portfolio, as well as the average.
I don't know of any calculator that includes the chance of a sudden major increase in expenses due to going to a nursing home. Firecalc can do it as an OFF CHART item.
Same for losing SS or Pension benefits when a spouse dies. That could be a major loss of income. It can be handled the same way.
Maybe there should be more data entry lines for that sort of thing.
For couples it would be useful if it could tell you "the portfolio succeeds if you die not earlier than..." and the same for the Spouse. That would require explicit notation of which spouse is providing which incomes.
There could be "sliders" at the bottom of the odds chart for various things -- slide to denote the year in which one spouse dies, or goes into the home, etc. That would require some fancy HTML to "animate" the chart. Somebody could get college course credit for making it a project.
It would be useful to ask permission to collect & collate anonymous results. If people enter their actual situation, what fraction of real portfolios fail? Lots of sample bias towards the type of person who tries to pay attention (maybe starting too late...).