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Adjusting Fire Calc for a mid year exit
Old 02-02-2007, 11:20 AM   #1
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Adjusting Fire Calc for a mid year exit

Since all of FIRECALC's calculations are based on one year grainularity how does one calculate for a mid year FIRE? Is it best to run the calculations based on the next full year I.E. 2008 and then do a one time portfolio withdrawl for the $$$'s needed to fund the partial year I.E. 2007? If I do it that way the sucess rate changes so I know FIRECALC is doing something but is it doing it correctly?

The reason I'm asking is after talking to my FIDO rep I can roll my defined pension into my 403b and take withdrawls without early withdrawl tax penatlies. If that's the case my fire date can move closer by several months as I'm not paying the 10 % penalty, resulting in a lower withdrawl rate and still getting a 95 % success rate.
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Re: Adjusting Fire Calc for a mid year exit
Old 02-02-2007, 11:26 AM   #2
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Re: Adjusting Fire Calc for a mid year exit

Yes, per Dory, start and top years default to Jan 1. Unless you are very close to the retirement year, the best workaround I have found is to run it for both years (the ones before and after the actual FIRE date) and estimate the midpoint.
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ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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