I am using FireCalc a lot these days and wondered about something in my future planning.
I see at least two lump sum changes to my calculations in the future. One, I am not worried about, because it relies on FireCalc type figures. (My parents told me.)
The other lump sum is selling one of my two properties when I am 80. I am guessing when I am 80 I won't want to drive mountain roads (but it could be I stay there instead and work it out).
My instinct tells me that neither FireCalc nor I can price property 35 years out. I discounted the value by 30%, since I don't see it appreciating like FireCalc figures do. (This is on the Lump Changes to Portfolio page, which asks for current value.)
I'm wondering if there's another way to do it. Like, I already leave out Social Security, because who knows what will change. Do I leave out my mountain property too?
It gets squishy (as some of us New Yorkers say now, after the federal "honest services" law got a lot of attention. Squishy.)
I'm not worried about being "right" and I'm not fearful. Just want good enough planning and trying not to be stupid.
Any suggestions?
I see at least two lump sum changes to my calculations in the future. One, I am not worried about, because it relies on FireCalc type figures. (My parents told me.)
The other lump sum is selling one of my two properties when I am 80. I am guessing when I am 80 I won't want to drive mountain roads (but it could be I stay there instead and work it out).
My instinct tells me that neither FireCalc nor I can price property 35 years out. I discounted the value by 30%, since I don't see it appreciating like FireCalc figures do. (This is on the Lump Changes to Portfolio page, which asks for current value.)
I'm wondering if there's another way to do it. Like, I already leave out Social Security, because who knows what will change. Do I leave out my mountain property too?
It gets squishy (as some of us New Yorkers say now, after the federal "honest services" law got a lot of attention. Squishy.)
I'm not worried about being "right" and I'm not fearful. Just want good enough planning and trying not to be stupid.
Any suggestions?
