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.
Reply to
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.
Reply to
Dave Dodson
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
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for more information.
Reply to
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
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Reply to
Here are two I like. I am not a professional, so only use "free" tools:
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sure to click "additional inputs" for even more options
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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
Reply to
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...
Reply to
In article ,
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
Reply to
Avrum Lapin

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