I found in Advanced FireCalc that if I used the Bernicke "Reality Retirement Plan" I could retire today with 115% of the income that I'm currently making (after-SS and savings). If I don't use this, I only would be able to withdraw 80% of the same amount.
Is this effect that dramatic or have I done something wrong?
I'm a believer in the drop off in spending as proposed by Bernicke but I didn't think it was this big of a factor.
When the calculations are done for the Bernicke effect, does FIRECalc inflate the withdraws and then draw the dollar amount down by the age dependent spending or use 2006 dollars for the life of the plan?
Is this effect that dramatic or have I done something wrong?
I'm a believer in the drop off in spending as proposed by Bernicke but I didn't think it was this big of a factor.
When the calculations are done for the Bernicke effect, does FIRECalc inflate the withdraws and then draw the dollar amount down by the age dependent spending or use 2006 dollars for the life of the plan?