Not sure if this one has been discussed. I'm not FIREd yet (but wanna be in the next 3 years or so). I recently ran some "what if's" through both Firecalc and Fido RIP. What I was looking at is the difference if my wife and I take SS at age 62 vs 67 vs 70.
Ignoring the absolute withdrawals, I noticed something I wasn't expecting.
Fido indicated that the longer I waited, the higher my withdrawal rate could be, which is what I expected.
Firecalc showed just the opposite. Max withdrawal for 100% safe dropped the longer we waited to take SS.
I also have my own spreadsheets and did the same analysis and the results were similar to Firecalc.
I suspect that the main difference might be taxes. Firecalc and my simplistic spreadsheet ignores them and Fido asks what you what your expected marginal tax rate would be.
FYI - in FIDO I'm using today's dollars and an underperforming market.
Big-Papa
Ignoring the absolute withdrawals, I noticed something I wasn't expecting.
Fido indicated that the longer I waited, the higher my withdrawal rate could be, which is what I expected.
Firecalc showed just the opposite. Max withdrawal for 100% safe dropped the longer we waited to take SS.
I also have my own spreadsheets and did the same analysis and the results were similar to Firecalc.
I suspect that the main difference might be taxes. Firecalc and my simplistic spreadsheet ignores them and Fido asks what you what your expected marginal tax rate would be.
FYI - in FIDO I'm using today's dollars and an underperforming market.
Big-Papa