 |
When you put 2019 as your retirement year, does Firecalc assume January 1st, 2019 ?
09-23-2018, 10:18 AM
|
#1
|
|
Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,040
|
When you put 2019 as your retirement year, does Firecalc assume January 1st, 2019 ?
Just wondering what the assumption is with Firecalc.
Today is Sept. 23, 2018.
If I put in Firecalc that I will be retiring in 2019, does that mean Firecalc will assume I am retiring on January 1st, 2019 ?
Or, will Firecalc assume I am retiring on September 2019 ? Because the result says "1 year pre-retirement" and 34 years of retirement when I set the retirement period to 35 years.
Thanks.
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
|
09-23-2018, 11:02 AM
|
#2
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2011
Posts: 6,194
|
Dunno. But I wonder if you're looking out at a 35 year retirement calculation, if six/eight months either way makes any material difference.
I do know that if you were to back date and enter "2017", it throws all the FireCalc calculations out of whack.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
|
|
|
|
|
09-23-2018, 11:04 AM
|
#3
|
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: No Country for Old Men
Posts: 47,508
|
Yes.
__________________
Numbers is hard
Retired in 2005 at age 58, no pension
|
|
|
|
|
09-23-2018, 11:29 AM
|
#4
|
|
Recycles dryer sheets
Join Date: Jan 2015
Posts: 205
|
 Quote:
Originally Posted by REWahoo
Yes.
|
Yes to which question? I have wondered the same thing as the OP.
|
|
|
|
|
09-23-2018, 11:43 AM
|
#5
|
|
Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,040
|
Quote:
Originally Posted by REWahoo
Yes.
|
I guess it's Jan 2019 then. Thanks.
Well, I'm not ready to retire that early, so I'll put 2020.
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
|
|
|
|
|
09-23-2018, 11:54 AM
|
#6
|
|
Recycles dryer sheets
Join Date: Jan 2015
Posts: 205
|
Quote:
Originally Posted by cyber888
I guess it's Jan 2019 then. Thanks.
Well, I'm not ready to retire that early, so I'll put 2020.
|
It is funny how 1 year does make a big difference in FireCalc.
|
|
|
|
|
09-23-2018, 11:55 AM
|
#7
|
|
Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,040
|
Quote:
Originally Posted by marko
Dunno. But I wonder if you're looking out at a 35 year retirement calculation, if six/eight months either way makes any material difference.
|
It does make a difference. If I put in 2019, I'm only 99.1% on a 35 year retirement. If I put in 2020, I'm at 100% for a 40 year retirement 
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
|
|
|
|
|
09-23-2018, 11:58 AM
|
#8
|
|
Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,040
|
Quote:
Originally Posted by Dreaming of Freedom
It is funny how 1 year does make a big difference in FireCalc.
|
Yes! that one year makes it 100% for 40 years lol. That 1 year is critical 
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
|
|
|
|
|
09-23-2018, 12:24 PM
|
#9
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 7,414
|
Quote:
Originally Posted by cyber888
I guess it's Jan 2019 then. Thanks.
Well, I'm not ready to retire that early, so I'll put 2020.
|
Confirmed it is Jan 2019. It is always the first of the year. Most retirement calculators also work this way. 
__________________
TGIM
|
|
|
|
09-23-2018, 06:02 PM
|
#10
|
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: No Country for Old Men
Posts: 47,508
|
Quote:
|
If I put in Firecalc that I will be retiring in 2019, does that mean Firecalc will assume I am retiring on January 1st, 2019 ?
|
Yes to the question in the thread title, and yes to the question quoted above.
__________________
Numbers is hard
Retired in 2005 at age 58, no pension
|
|
|
|
|
09-23-2018, 07:34 PM
|
#11
|
|
Thinks s/he gets paid by the post
Join Date: Jun 2010
Posts: 1,427
|
I'm not so sure it's because you changed it from 2019 to 2020, but rather due to you changing it from 35 years to 40 years.
__________________
And whatever your labors and aspirations in the noisy confusion of life, keep peace in your soul. With all its sham, drudgery, and broken dreams, it is still a beautiful world. Be cheerful. Strive to be happy.- Desiderata by Max Ehrmann
|
|
|
|
|
09-24-2018, 09:57 PM
|
#12
|
|
Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,040
|
Quote:
Originally Posted by MissMolly
I'm not so sure it's because you changed it from 2019 to 2020, but rather due to you changing it from 35 years to 40 years.
|
It's 100% for both 35 and 40 .. but less money left for 40.
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
|
|
|
|
|
09-26-2018, 09:46 AM
|
#13
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 28,256
|
I decided to bump this thread rather than create a new one.
I'm trying to simulate a 23% reduction in SS in 2034. I'll put in an off-chart spending that is inflation adjusted beginning in 2034. I have entered SS in today's $$ starting in 2020/2021 near the top of the page.
In the off-chart spending, should I enter 23% of the SS in today's $$, 23% of the SS in today's $$ adjusted for inflation from 2018 to 2034 or something else?
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56...target 65/35/0 AA TBD
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
| Thread Tools |
Search this Thread |
|
|
|
| Display Modes |
 Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
