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Best Retirement Calculators ?
I’ve used a couple of however they’re giving completely different outcomes. Does anybody have a favourite (how lengthy will your cash final sort of factor)? Thanks.
Re: Best Retirement Calculators ?
ahc19081 wrote: ↑Sat Sep 07, 2024 2:10 pm
For those who can solely use one, the TPAW Planner is the perfect. https://tpawplanner.comI additionally pay for ProjectionLab (nice for modeling earnings, bills, and taxes and for situation planning, a lot of refined and delightful touches) and Maxifi (nice for a rock-solidly conservative evaluation of what you may truly afford to spend all through your anticipated lifetime, even higher for situation planning).
Wealthy, Broke, or Lifeless is about the perfect fast guesstimate accessible. https://engaging-data.com/will-money-last-retire-early/
In some distinction to your expertise to date, all these instruments in the end converge on the identical primary reply for my state of affairs of how a lot I would like, to 2 vital digits, which is all of the precision one can hope for for my part.
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Re: Best Retirement Calculators ?
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by Wannaretireearly »
I’ve began utilizing projection lab. It’s fairly cool and complex
. Nonetheless studying…
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Re: Best Retirement Calculators ?
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by Derpalator »
Extra difficult query than one would possibly suppose. Historic analyses vs Monte Carlo simulations, and even straight deterministic strategies could also be used. Some respect excessive granularity, others like simplicity. Those beforehand talked about are strong, simply ensure you learn in regards to the calculators’ methodology. I like Versatile Retirement Planner and Pralana Gold.
Re: Best Retirement Calculators ?
That is a function, not a bug. Completely different calculators use completely different assumptions: lifespan, market strikes, tax points, well being & healthcare prices — a lot of issues.
Those which can be providing you with the least favorable solutions are mentioning the weaknesses in your retirement plan. Go take a look at their assumptions for actual enhancements!
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Re: Best Retirement Calculators ?
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by harrisvegas »
When you’ve got a Constancy 401K account, they’ve a reasonably intensive retirement planning calculator of their web site – I believe it’s underneath the “planning” tab. It is rather more than a calculator – if you happen to enter your detailed earnings and bills in retirement and your deliberate age to take SS and so on, it should give an in depth yearly earnings and financial savings projection doc with varied market eventualities as a PDF.
Re: Best Retirement Calculators ?
On all of the calculators I’ve tried with an asset allocation of 45% inventory, 5% money and 50% bonds;
Withdrawal fee of beginning blanace ~ 2% is all the time secure
Withdrawal fee of beginning blanace ~ 3% is usually secure
Withdrawal fee of beginning blanace ~ 3.5% barely reaches the purpose & typically requires a extra aggressive inventory allocation.
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Re: Best Retirement Calculators ?
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by Raspberry-503 »
mhc wrote: ↑Sat Sep 07, 2024 3:21 pm
The wiki has fairly the listing:
https://www.bogleheads.org/wiki/Retirem … d_spendingI like:
firecalc
cfiresim
ficalc
the Constancy retirement calculator (I am unable to sustain with the title)cfiresim is a greater model of firecalc
the Constancy one is extra detailed than the others
ficalc has some good options
All these instruments are variation of the identical and have the identical traits/limitations:
– they solely use previous market historical past. There usually are not that many 30+ years lengthy units of knowledge within the historic information. I’d complement with a Monte Carlo based mostly evaluation
– you inform them how a lot you need to spend and so they let you know the percentages of creating it. Utilizing one thing like TPAW does it the opposite method round: it tells you ways a lot it’s best to have the ability to spend, whether or not that is sufficient or not is as much as you.
I do use ficalc loads as a result of you may mannequin extra spending or earnings streams.
I additionally use TPAW, VPW and my very own spreadsheet for that flipped view of the world.
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Re: Best Retirement Calculators ?
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by Raspberry-503 »
wwhan wrote: ↑Solar Sep 08, 2024 4:09 pm
I ahve additionally used the Constancy planning information & monetary engines, which work fairly properly.On all of the calculators I’ve tried with an asset allocation of 45% inventory, 5% money and 50% bonds;
Withdrawal fee of beginning blanace ~ 2% is all the time secure
Withdrawal fee of beginning blanace ~ 3% is usually secure
Withdrawal fee of beginning blanace ~ 3.5% barely reaches the purpose & typically requires a extra aggressive inventory allocation.
It is true these percentages are secure, however you’ll doubtless die very wealthy and will have spent extra in retirement or retired earlier It illustrates why not all calculators agree, as they could have completely different priorities.
For myself I’ll use some sort of variable withdrawal that varies with the dimensions of my portfolio at a minimal (VPW), and probably with different market “predictors” like CAPE and TIPS returns (that is what TPAW and others do)
Re: Best Retirement Calculators ?
Raspberry-503 wrote: ↑Wed Sep 11, 2024 9:23 ammhc wrote: ↑Sat Sep 07, 2024 3:21 pm
The wiki has fairly the listing:
https://www.bogleheads.org/wiki/Retirem … d_spendingI like:
firecalc
cfiresim
ficalc
the Constancy retirement calculator (I am unable to sustain with the title)cfiresim is a greater model of firecalc
the Constancy one is extra detailed than the others
ficalc has some good optionsAll these instruments are variation of the identical and have the identical traits/limitations:
– they solely use previous market historical past. There usually are not that many 30+ years lengthy units of knowledge within the historic information. I’d complement with a Monte Carlo based mostly evaluation
– you inform them how a lot you need to spend and so they let you know the percentages of creating it. Utilizing one thing like TPAW does it the opposite method round: it tells you ways a lot it’s best to have the ability to spend, whether or not that is sufficient or not is as much as you.I do use ficalc loads as a result of you may mannequin extra spending or earnings streams.
I additionally use TPAW, VPW and my very own spreadsheet for that flipped view of the world.
The Constancy calculator is Monte Carlo based mostly. Monte Carlo simulators introduce their very own points, however I agree with you that utilizing a Monte Carlo and a historic calculator is an effective strategy.
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