looking for retirement calculator

My wife, a teacher,
(is having a bad year),
and went to discuss
her (early) retirement & pension plan.

So - we started looking around....
There appears to be tons of different
Retirement Calculators all over the place,
and of course on every financial website...

I'm looking for one that is comprehensive
to take into account all these factors:
the assets avail & our ages...
current portfolio net worth
expected pension amounts
expected SS amounts
expected IRA amounts

I think everyone then uses 4% yearly drawdown
expected monthly/yearly expenses
life expectancy -
then - how much is left over,
or did we happily spend the kid's inheritence

What about inflation & equity growth vs bonds vs cash

If all these entries can be manipulated,
then we can determine how much to draw,
or what might be left, or the cushion we need to keep.
Most calculators have been just a simple Yes or No version,
without the underlying details to see the real picture.

--
----------------------------------
"If everything seems to be going well,
you have obviously overlooked something." - Steven Wright

On Nov 4, 6:06*pm, "ps56k" <pschuman_no_spam...@interserv.com> wrote:
> There appears to be tons of different
> Retirement Calculators all over the place,
> and of course on every financial website...
>
> I'm looking for one that is comprehensive

Try basic.esplanner.com. It is a free onlive version of a
comprehensive product. It uses "consumption smoothing" to try to
equalize your standard of living over your lifetime. I'll have to
admit that I have not used the free web-based version, but I have used
the installed version, and think it is very useful.

Dave

I second Dave's recommendation of ESPlanner. It is the most
comprehensive tool I have seen. I also have not used the on-line
version but the full installable version is quite reasonably priced for
what it does. Go to www.esplanner.com for more information.

--
.Bill.

On 11/4/10 5:06 PM, ps56k wrote:
> My wife, a teacher,
> (is having a bad year),
> and went to discuss
> her (early) retirement& pension plan.
>
> So - we started looking around....
> There appears to be tons of different
> Retirement Calculators all over the place,
> and of course on every financial website...
>
> I'm looking for one that is comprehensive
> to take into account all these factors:
> the assets avail& our ages...
> current portfolio net worth
> expected pension amounts
> expected SS amounts
> expected IRA amounts
>
> I think everyone then uses 4% yearly drawdown
> expected monthly/yearly expenses
> life expectancy -
> then - how much is left over,
> or did we happily spend the kid's inheritence
>
> What about inflation& equity growth vs bonds vs cash
>
> If all these entries can be manipulated,
> then we can determine how much to draw,
> or what might be left, or the cushion we need to keep.
> Most calculators have been just a simple Yes or No version,
> without the underlying details to see the real picture.
>

As you say, most calcs tell you how many total dollars you will have
in X years based on some saving & investment rate. I like this site
(free) because it will tell you, among many other details, what you
could spend yearly based on your input of assumptions such as those
you listed above, plus many more.

Optimal Retirement Planner at

http://www.i-orp.com/

On Nov 4, 7:06*pm, "ps56k" <pschuman_no_spam...@interserv.com> wrote:
> My wife, a teacher,
> (is having a bad year),
> and went to discuss
> her (early) retirement & pension plan.
>
> So - we started looking around....
> There appears to be tons of different
> Retirement Calculators all over the place,
> and of course on every financial website...
>

Here are two I like. I am not a professional, so only use "free"
tools:

http://www.flexibleretirementplanner...nchFRPWeb.html
be sure to click "additional inputs" for even more options

http://firecalc.com/
every tab across the top is another option. This is primarily a
spending calculator- if you still need to accumulate money, this might
not help as much IMO

tnx -
I'll have to take a look at each one of the planners.

Most times - the calcs are about getting enough saved.
I'm more concerned about the retirement phase,
and how much to spend and what's left over.

ie - using some round numbers to play with
as a retirement example ....

Will own home, no outstanding debts, just monthly living, etc
Want to know "how much"
- to draw out of portfolio (if needed to increase lifestyle)
- left for estate at age 90
- need to increase growth stocks vs stable bonds
- inflation rate

Using these example numbers ....
Investment portfolio = $2 mil
IRA mutual funds = $200,000

Pension payout = $80k yr
SS payout = $30k yr

Example expenses ...
Real estate taxes = $7k yr
Monthly living = $30k yr

Looking back - it might be simply...
The $30k balances SS vs Expenses,
with the $80k pension as gravy
and the $2mil portfolio as a reserve to draw down...

On Nov 5, 4:46*pm, "ps56k" <pschuman_no_spam...@interserv.com> wrote:
> tnx -
> I'll have to take a look at each one of the planners.
>
> Most times - the calcs are about getting enough saved.
> I'm more concerned about the retirement phase,
> and how much to spend and what's left over.
>
check two I listed in my reply, they are both excellent spending
calculators

In article <ib1mup$pbj$>,
"ps56k" <> wrote:

> tnx -
> I'll have to take a look at each one of the planners.
>
> Most times - the calcs are about getting enough saved.
> I'm more concerned about the retirement phase,
> and how much to spend and what's left over.
>
> ie - using some round numbers to play with
> as a retirement example ....
>
Big SNIP

My experience was that I spent almost as much in retirement as I did
when I was working.

Calculate your spend rate as follows:
Take the $ on the last line of page 1 of your 1040
* subtract about 10% (you wont be contributing to Social Security etc
-using after tax dollars)
* subtract any after costs savings
* subtract work related costs - commuting, uniforms etc
* adjust for differences in health insurance costs especially if under 65
* add in the cost for golf, big travel and other things that you will be
spending between 9 and 5.

The draw from your savings/slash investments is your spend rate less any
annuity type income such as Social Security, pensions etc.

The 4% number comes from a Monte Carlo analysis using actual performance
over a longish period of time of a hypothetical portfolio consisting a
mixture of stocks and bonds.

The original analysis was called the Trinity study (Trinity College) and
can be found by Googling). The analysis calculates the probability that
the portfolio will last a given number of years. So you take a guess at
how long you will live and what odds you can tolerate and come up with a
a withdrawal rate. You then hope that the portfolio going forward
behaves as it did in the past.

The Trinity analysis has been duplicated by others with more or less
similar results.

T Row Price has an on line retirement calculator that can give you
approximate results (approximate because the assumptions used are only
assumptions

For those who want to compare mentioned in this thread retirement risk calculators T Row Price, Flexible Retirement Calculator, and FIRECalk feature-by-feature as well as with another free available online retirement risk calculators I am recommending the feature comparison matrix that can be found on retrian.com web site.