I am screwing something up

[maldini]

I see that Firecalc has an input that says

"Current Value of your retirement portfolio"

which I take to mean what the value is today, not the value I expect it to be when I retire 8 years from now.

If that is true, how do I enter my yearly contributions to the retirement portfolio that I will make before I retire? I don't think I should add this money as a one time lump sum but I am not sure how else to get that data into Firecalc so that it correctly shows the growth of my portfolio not only based on the market returns but also based on yearly contributions for the next 8 years.

Any help would be appreciated.

 

[brewer12345]

You enter today's value, then where it asks about an expense that lasts for a specified number of years (and then stops) you put in a negative number in the amount of your expected annual savings.

 

[maldini]

You enter today's value, then where it asks about an expense that lasts for a specified number of years (and then stops) you put in a negative number in the amount of your expected annual savings.

Thanks for the info.

I can't find any input that shows an expense that lasts for a specified amount of years and then stops.

Can you tell me which page that is on?

 

[brewer12345]

Thanks for the info.

I can't find any input that shows an expense that lasts for a specified amount of years and then stops.

Can you tell me which page that is on?

Hmmm, I actually just went and played with firecalc and I steered you wrong. You want to be in advanced firecalc. One of the tabs asks when you plan on retiring (year) and how much annually you will contribute until you retire. There is also an option on the results tab that shows how things look if you retire in any of the next 10 years.

 

[maldini]

Hmmm, I actually just went and played with firecalc and I steered you wrong. You want to be in advanced firecalc. One of the tabs asks when you plan on retiring (year) and how much annually you will contribute until you retire. There is also an option on the results tab that shows how things look if you retire in any of the next 10 years.

great I see that now! Thank you