why would anyone subject themselves to grief from strangers over a free tool?
Well yes, but then the existence of numerous free tools of comparable complexity would seem to answer that question (eg I-ORP and FIRECalc to name a couple).
why would anyone subject themselves to grief from strangers over a free tool?
+1I'm not surprised at all. FAs and the financial sector want you to pay them to guide you (for a "small" fee), so they aren't going to give us a tool - if anything they will squelch or actively discredit any that appear. Such a tool would only come to us through another benevolent investor, but an actual tool that considered dividends, taxes, rebalancing, etc. would be fairly complex. There would inevitably be some angry users, why would anyone subject themselves to grief from strangers over a free tool? And anyone can write a simple spreadsheet that just suggests what to withdraw from which funds.
Again, there are always managed payout funds, all-in-one funds and other like investment options to simplify, at a small cost in fees.
I-ORP is a great tool but it assumes that you want constant, inflation adjusted spending like SWR provides...
Both of the above will also help you manage if/when/how much Roth conversions to do.
Cheers,
Big-Papa
Numerous? That’s the point, there are very few, i-ORP and FIRECALC are exceptions. IIRC both originated about 20 years ago, there hasn’t been anything like them more recently and there are concerns how much longer they will be maintained. There was a planner on Bogleheads that was really elaborate, but it’s so complex with many hidden calcs, you trust at your own risk.Well yes, but then the existence of numerous free tools of comparable complexity would seem to answer that question (eg I-ORP and FIRECalc to name a couple).
Yep. Many of us here, self included, have developed various elaborate spreadsheets for managing our finances. It’s the only way I know exactly what the underlying assumptions and limitations are, with the inputs I want. I’m an average knowledge member here and like many here I’ve been very open with “free advice” (most recently re: Roth conversions) but I’d never dream of sharing my spreadsheets with anyone because I don’t want to blank out all my info, modify to accommodate situations that don’t apply to us, or deal with the inevitable questions that would stem from it. I’ve had that experience here but not often. No good deed goes unpunished...Interesting (if not rather surprising) that there are no tools to do this. So it looks like we are all left to our own devices. I guess I need to try putting my own spreadsheet together then!
Interesting (if not rather surprising) that there are no tools to do this. So it looks like we are all left to our own devices. I guess I need to try putting my own spreadsheet together then!
... the question is akin to the old saying about measuring with a micrometer, marking with chalk and cutting with an axe.... looking for a degree of precision that has negligible value or benefit...
Instead, I'm asking about how - practically - you are making decisions about what to sell, by how much (and what to buy to re-balance if necessary) according to your chosen method on a regular basis.
So for example, I have a diverse portfolio and I am following a structured method (doesn't matter what). I want to draw down, say, 6 months income to spend. Is there, or could there be, a system that would tell me to sell, say, $5,000 of fund X, $2,500 of IT Y and $1,000 from bond Z taking into account my chosen strategy to include things like inflation adjustment, likely tax etc.?
Hope that's clearer.