no, because I prefer a different calculator. But remember that all these calculators provide warm fuzzies.. a good feeling and your mileage my vary
Which calculator do you prefer?
no, because I prefer a different calculator. But remember that all these calculators provide warm fuzzies.. a good feeling and your mileage my vary
Which calculator do you prefer?
RIP
the can I retire question has be answered. Don't run these any more unless I change the parameters significantly
I run Fido's retirement planner at least twice (sporadic) a month. With all our money at Fidelity, it is easy to use. I figure that if you are good with their most pessimistic scenario, then all is good.
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Not a fan of I-ORP with its too many numbers. I like graphs.
Then there are:
https://calculator.ficalc.app
https://pralanaretirementcalculator.com
https://www.ontrajectory.com
https://www.newretirement.com
Thanks for these "new toys" Do you know if this one https://calculator.ficalc.app accounts for Social Security or do I have to put it in as "Additional income"? I looked but couldn't find out if it does or not.
RIP is fidelity Retirement Income Planner (RIP) I would expect it has been linked.I’m confused
You said “ I run a different calculator “. Do you have a link to the calculator you run?
Well, when I used it for the first time, yes, I put SS in as additional income, and checked "inflation adjusted."
I used to run it a lot in the first few years, now hardly ever.
I do run Fido's planner a couple times a year usually when contemplating a large purchase.
I like that it never comes back with a "You may run short of funds xx" any more. Shocking how the lack of 2020 spending, market increases in 2020, and one year closer to death bumped the likely end balance number when I looked in January.
For several years, I kept telling FIRECalc that my time horizon was (still) 30 years. I finally quit doing that. I found I could use less and less equities in my mix of assets and still come out okay. I guess there IS one advantage of getting older, but YMMV.
Interesting observation. Do many early early-retirees (who are now >65 years old) actually reduce their retirement planner assumptions below 30 years? I'm still using 37 years, soon to notch down to 36, but hadn't really thought about when to stop decrementing.
It seems to me that keeping 30 years as your horizon, even into your 70s is another conservatism for the belt and suspenders set. Then again, once into your 70s it is not obvious that retirement planners are very useful any more.
Interesting observation. Do many early early-retirees (who are now >65 years old) actually reduce their retirement planner assumptions below 30 years?
Interesting observation. Do many early early-retirees (who are now >65 years old) actually reduce their retirement planner assumptions below 30 years? I'm still using 37 years, soon to notch down to 36, but hadn't really thought about when to stop decrementing.
It seems to me that keeping 30 years as your horizon, even into your 70s is another conservatism for the belt and suspenders set. Then again, once into your 70s it is not obvious that retirement planners are very useful any more.
Interesting observation. Do many early early-retirees (who are now >65 years old) actually reduce their retirement planner assumptions below 30 years? I'm still using 37 years, soon to notch down to 36, but hadn't really thought about when to stop decrementing.
It seems to me that keeping 30 years as your horizon, even into your 70s is another conservatism for the belt and suspenders set. Then again, once into your 70s it is not obvious that retirement planners are very useful any more.
I just tweak the numbers until I get 100%......easy peasy.
No. Ive used it once or twice. Its clunky imo. I dont need some advanced calculator to predict if Ill have enough money. I can do that on my own. Its not that hard to figure out what you need. If you know how much you spend, basic arithmetic will let you know how much you needs.
No. Ive used it once or twice. Its clunky imo. I dont need some advanced calculator to predict if Ill have enough money. I can do that on my own. Its not that hard to figure out what you need. If you know how much you spend, basic arithmetic will let you know how much you needs.
Your signature:
Contentedly ER, with 3 furry friends (now, sadly, 1).
Planning my escape to the wide open spaces in my campervan (with my remaining kitty, of course!)
On a mission to become the world's second most boring man.
Actually, FireCalc doesn't predict whether you'll have enough money. No calculator or application can do that. It shows you whether your stash would have lasted every other retirement period in the past, for as long as market data has been available.
I understand the Firecalc uses historical market returns for it's calculations. It far from perfect, but what else is there?
If you're invested in less volatile instruments than equities, then you can probably get by with just basic arithmetic, as long as you factor in for inflation. One thing that FireCalc does, which can be helpful, is to account for the risk inherent in the sequence of returns, which can be a significant factor for any long-term investment in stocks. If you tried to do that on your own, you'd have a lot of data to input!
FireCalc has a lot of fans here but, of course, there are many other ways of doing things.