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When you put 2019 as your retirement year, does Firecalc assume January 1st, 2019 ?
09-23-2018, 10:18 AM
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#1
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Join Date: Aug 2013
Posts: 1,202
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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.
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09-23-2018, 11:02 AM
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#2
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Give me a museum and I'll fill it. (Picasso)
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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.
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09-23-2018, 11:04 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
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Yes.
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Numbers is hard
Retired in 2005 at age 58, no pension
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09-23-2018, 11:29 AM
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#4
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Recycles dryer sheets
Join Date: Jan 2015
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 Quote:
Originally Posted by REWahoo
Yes.
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Yes to which question? I have wondered the same thing as the OP.
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09-23-2018, 11:43 AM
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#5
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Join Date: Aug 2013
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Quote:
Originally Posted by REWahoo
Yes.
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I guess it's Jan 2019 then. Thanks.
Well, I'm not ready to retire that early, so I'll put 2020.
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09-23-2018, 11:54 AM
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#6
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Recycles dryer sheets
Join Date: Jan 2015
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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.
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It is funny how 1 year does make a big difference in FireCalc.
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09-23-2018, 11:55 AM
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#7
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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.
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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 
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09-23-2018, 11:58 AM
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#8
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Quote:
Originally Posted by Dreaming of Freedom
It is funny how 1 year does make a big difference in FireCalc.
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Yes! that one year makes it 100% for 40 years lol. That 1 year is critical 
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09-23-2018, 12:24 PM
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#9
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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.
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Confirmed it is Jan 2019. It is always the first of the year. Most retirement calculators also work this way. 
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TGIM
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09-23-2018, 06:02 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
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Quote:
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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 ?
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Yes to the question in the thread title, and yes to the question quoted above.
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Numbers is hard
Retired in 2005 at age 58, no pension
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09-23-2018, 07:34 PM
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#11
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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.
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09-24-2018, 09:57 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Aug 2013
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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.
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It's 100% for both 35 and 40 .. but less money left for 40.
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No to consumerism, Living a simple life, enjoying the experience - not the material stuff
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09-26-2018, 09:46 AM
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#13
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Nov 2010
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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?
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