How do retirement calculators handle taxes?
When I'm running numbers through a retirement calculator, how are taxes handled? If I'm drawing down $75,000 per year, after taxes I'll have less to spend. So when I put in a spending amount, is there a tax assumption? Or, do I have to put in a larger amount for taxes. For example, let's say I want to spend $75,000 per year. To do that, I'm going to have to draw down about $88,000 assuming a 15% tax rate. Does that mean I should put $88,000 in the calculator or does it somehow account for taxes?