looking for retirement calculator

Discussion in 'Financial Planning' started by ps56k, Nov 4, 2010.

  1. ps56k

    ps56k Guest

    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
     
    ps56k, Nov 4, 2010
    #1
    1. Advertisements

  2. ps56k

    Dave Dodson Guest

    On Nov 4, 6:06 pm, "ps56k" <> 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
     
    Dave Dodson, Nov 5, 2010
    #2
    1. Advertisements

  3. ps56k

    Bill Guest

    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.
     
    Bill, Nov 5, 2010
    #3
  4. ps56k

    Reed Guest

    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/
     
    Reed, Nov 5, 2010
    #4
  5. ps56k

    jIM Guest

    On Nov 4, 7:06 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...
    >


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

    http://www.flexibleretirementplanner.com/java/LaunchFRPWeb.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
     
    jIM, Nov 5, 2010
    #5
  6. ps56k

    ps56k Guest

    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...
     
    ps56k, Nov 5, 2010
    #6
  7. ps56k

    jIM Guest

    On Nov 5, 4:46 pm, "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.
    >

    check two I listed in my reply, they are both excellent spending
    calculators
     
    jIM, Nov 5, 2010
    #7
  8. ps56k

    Avrum Lapin Guest

    In article <ib1mup$pbj$-september.org>,
    "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
     
    Avrum Lapin, Nov 5, 2010
    #8
  9. ps56k

    ABLE

    Joined:
    Jul 20, 2011
    Messages:
    1
    Comparing retirement calculators

    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.
     
    ABLE, Jul 20, 2011
    #9
    1. Advertisements

Want to reply to this thread or ask your own question?

It takes just 2 minutes to sign up (and it's free!). Just click the sign up button to choose a username and then you can ask your own questions on the forum.
Similar Threads
  1. PaulMaf

    retirement calculator from Society of Actuaries

    PaulMaf, Aug 31, 2004, in forum: Financial Planning
    Replies:
    2
    Views:
    199
  2. Replies:
    7
    Views:
    236
    Bread
    Feb 13, 2006
  3. One Man Rodeo

    looking for software or calculator

    One Man Rodeo, Sep 13, 2006, in forum: Financial Planning
    Replies:
    17
    Views:
    314
  4. Replies:
    2
    Views:
    263
  5. SelMcKenzie

    Fibonacci Calculator + Gann Calculator gratis

    SelMcKenzie, Dec 28, 2004, in forum: UK Finance
    Replies:
    0
    Views:
    373
    SelMcKenzie
    Dec 28, 2004
Loading...

Share This Page