Hoping to retire at 55

[Dtail]

To be honest, I don't know about Quicken anymore. I haven't used it in years.

I've been mainly using Firecalc and Fidelity's Retirement Income Planner. I have run them both dozens of times. I get almost the same exact results from those two models even though they use totally different methodologies. Firecalc is free and I believe Fidelity has a free version, although I use the one that is part of my retirement account as they managed my employer's 401k.

The above 2 calculators are my favorites and the max spending difference is $500 yearly between the two.

 

[kblagron]

Congrats - I did it at 57 and realized that 8 hours a day is a long time to be at work. You will have fun I am sure. 3 Years in now, and have more money than when I started, so at 60, feel great about my decision. Hope yours is the same!

 

[mamadogmamacat]

Congratulations

Retired at 55 also.

it has been almost 4 yrs now

What a pleasure, never bored, always in a satisfied frame of mind

One other plus is I have more time now to focus on my health, and feel better than I did by far during those last several stressful working years

Hope your retirement is as fulfilling.
it has helped of course to have had such good, even great, financial times during these early yrs of ER
I hope that continues for a while at least, for all of us

 

[pb4uski]

Is there a cost associated with this Quicken Lifetime Planner product?
Thanks

Yes, it is included in Quicken Deluxe or higher... but it isn't expensive. It is a very good basic planner... intuitive, easy-to-use, comprehensive and flexible.

If you want free... Microsoft Money Subset Edition has a similar retirement planner but as I recall it is a little clunky to use.

 

[DogGone]

Yes, it is included in Quicken Deluxe or higher... but it isn't expensive. It is a very good basic planner... intuitive, easy-to-use, comprehensive and flexible.

If you want free... Microsoft Money Subset Edition has a similar retirement planner but as I recall it is a little clunky to use.

New Retirement Planner is my favorite for detail, scenarios, timebased expense changes, etc. but they have no monte carlo (but they are working on it).

I think I've done 30 different planners as I just pulled the trigger 2 months ago. I should really make a grid comparison while its still fresh. Some include taxes and or medical in "expenses" others do that for you so you need to be careful.