A retirement calculator for optimists........

[Cut-Throat]

Here is a retirement calculaltor for all you optimists like GDER. Maybe you could run your life like the government. Borrow and Spend!

Myself I'd call this voodoo economics.

http://www.retireonyourterms.org/calculator.jsp

 

[wzd]

What an irrresponsible calculator (and group of advisors?) It is simply adding up SS, Pension, and the annual rate of return times savings. i.e. you get the earnings off of your savings. Of course it says that at the top - earnings without invading principal. And the assumed earnings are 8% by default!!

Wayne

 

[Cut-Throat]

Link doesn't work and neither does the calculator.

Sure the link works. YOu just have to know how to run a mouse.

 

[Cut-Throat]

Link works now.

Link always worked!  

Maybe you didn't read my post - I said it was voodoo Economics.

I got a better idea use FireCalc and the Quicken Retirement Planner!

The Orp is pretty Juvenille!

 

[Bob_Smith]

Calculator & site is still garbage and a complete waste of time.

I found the calculator very interesting - not a waste of time at all. It is a shocking example of the bad advice people may get from the financial services industry. Thanks for posting it Cut-Throat.

 

[Bob_Smith]

Hey Cut-Throat, I logged in to the Vanguard Voyager web site tonight. Right there on the home page is a link to a long interview with Ben Stein which includes a direct link to the site that has the irresponsible calculator you referenced in your original post. And Stein makes the following statement when asked about his advice for people approaching retirement who haven't saved enough:

"... If they think, "The market will run up; we'll take 8% out a year," that's a catastrophic formula. After a few years of a bear market, they'll have 20% left of their portfolio."

Yet the calculator on his site defaults to 8% among other problems. It underscores the importance of not relying upon financial professionals. And shame on Vanguard for spreading this junk. Things have gone downhill at Vanguard since Bogle retired.

 

[Cut-Throat]

Yes, you're right ! - And I was not going to mention it but the web site has a .org after it, so it really is not a front for financial advisors.

This site was meant for people that are not saving anything for retirement. I think the calculator was designed to not discourage anyone from saving. If they knew the real truth they would probably throw in the towel

The government knows that there is tsunami wave coming and they are just trying to slow it down a bit!

 

[dory36]

... the web site has a .org after it, so it really is not a front for financial advisors.

There are no restrictions on getting .org domains anymore. So it can be a front for anything.

Dory36