good firecalc %

[Among_Primates]

I'm semi-retired now, at 90%. I'm 66, and health and time won't allow me to stay on the treadmill till 100%. I'm going to trigger a non-COLA pension in a year (already taken into consideration in the 90%).


Of course, if I change the inflation option to 7%, my results drop to 6.6%.

 

[indiajust]

I don't use it for aiming at all. I do the inverse, playing around with what kind of spending number generates a 90% success. I don't know why, but this feels more tangible to me.

I stay consistent with my inputs, update account values, and see what my max spend is. As long as that number beats my budget, I am good.

 

[romans2]

I aim for 100% which i'm at for my "Target lifestyle" budget, I could half that spend and pay the bills/ have a decent standard of living. Hoping to get to BTD territory over the next couple of years though !

 

[G-Man]

Yes, I use "Other income/spending" in FIRECalc. There is start date and no end date. There are only 3 lines. FIRECalc does not meet my needs. With Fidelity, I have probably input at least 50 different types of spending, starting and ending with various dates, lifespan for both of us / spending periods, term annuities start and end dates. Every few years one-time new car payment and so on and so forth.

RetiredHappy.. I'm using the Fidelity Retirement Tool as well. Not retired yet, however; my score is currently over 100. I'm curious about the various spending categories you have and which spending categories in the Fidelity tool are essential for an accurate score. For example, for me I created a "Discretionary" spending bucket where I just enter a lump sum amount. Just wondering if I would get a different score if a use some of the predefined spending category in the tool already.

So once again, what are the predefined spending buckets in the Fidelity tool that you must enter your data so that you get an accurate score.

You can PM me as well if you want to share some of the spending categories you are using in the Fidelity tool.

Thanks

 

[Dtail]

RetiredHappy.. I'm using the Fidelity Retirement Tool as well. Not retired yet, however; my score is currently over 100. I'm curious about the various spending categories you have and which spending categories in the Fidelity tool are essential for an accurate score. For example, for me I created a "Discretionary" spending bucket where I just enter a lump sum amount. Just wondering if I would get a different score if a use some of the predefined spending category in the tool already.

So once again, what are the predefined spending buckets in the Fidelity tool that you must enter your data so that you get an accurate score.

You can PM me as well if you want to share some of the spending categories you are using in the Fidelity tool.

Thanks

I can take a shot at this response.
IIRC, the only categories where there is a difference in output, are the medical expenses categories (higher inflation rate, 4.9%?) and whether one rents or has a mortgage.
Others can chime in of course.

 

[G-Man]

I can take a shot at this response.
IIRC, the only categories where there is a difference in output, are the medical expenses categories (higher inflation rate, 4.9%?) and whether one rents or has a mortgage.
Others can chime in of course.

For Health Care premiums, I have populated the buckets highlighted in yellow.

For medical expenses, I have estimated $120 per month. That number is included in my custom discretionary expense bucket per month.