I have many of my investments with Fidelity and have been pretty happy with the company. I recently filled out its comprehensive retirement income planning booklet where I projected all expenses (and then some) for my retirement which will begin at age 49 next spring.
Based on the value of my current investments, and then taking into account my projected expenses, inflation, one-time expenditures (such as a new car paid for in cash every ten years), and a few "extras", the Fidelity rep said I'd have no problem surviving well in the non-working world for the next forty years. This based on a withdrawal rate of from 1.9% to 4.5% per annum. It is also recommended that I take a more conservative approach in my portfolio and weigh it heavily in bonds (recommendation: 20% domestic equities, 50% bonds, 30% cash/short term).
My question: has anyone else used this service through Fidelity and what did you think? Just looking for feedback if you've used this ("free") service.
Based on the value of my current investments, and then taking into account my projected expenses, inflation, one-time expenditures (such as a new car paid for in cash every ten years), and a few "extras", the Fidelity rep said I'd have no problem surviving well in the non-working world for the next forty years. This based on a withdrawal rate of from 1.9% to 4.5% per annum. It is also recommended that I take a more conservative approach in my portfolio and weigh it heavily in bonds (recommendation: 20% domestic equities, 50% bonds, 30% cash/short term).
My question: has anyone else used this service through Fidelity and what did you think? Just looking for feedback if you've used this ("free") service.