50 results found
add the ability to change expenses after retirement.
Our expenses will be way lower during retirement so this calculator doesn't really work for us.46 votes
Not working properly
If i have annual income of 100,
I have annual expenses of 100 000,
and I have a portfolio of 2 000 000.
My annual return are 1 % and my withdrawal rate 4%.
According to the calculator I could have retired 6½ years ago.
This is simply not correct. A 1% return is 20 000 and that is not enough to cover my expenses of 200 000. Something is wrong here.
Besides it not working properly, it's a great tool and I thank you for putting it up! :)33 votes
Add the ability to insert future periods where additional income kicks in.
I have a defined benefit work pension starting at time X
I have federal pension starting at time Y
I have a lump sum injection at time Z
That would make this calculator even more wicked!31 votes
Withdrawal rate is backward
I put in a set amount for expenses every year in the calculator -- required field. Using that amount as the standard for all situations, the calculator says you can retire sooner and sooner the higher the withdrawal rate. That isn't correct. People should be planning for lower withdrawal rates to account for a bad economy, not higher withdrawal rates. Telling them they can retire sooner the more they spend is seriously bad advice. At higher withdrawal rates, you run out of money sooner. The calculator even says I could have retired years ago when I had the return rate being 5 percent and the withdrawal rate being 8 percent. At that rate, you will run out of money. The calculator page at the bottom even says that your withdrawal rate should be less than your rate of return, but the calculator itself is saying the opposite -- it says you can retire even sooner if you just spend more. And I read the answers to the similar posts. Yes, if $30,000 is 4 percent of the total, you only have $750,000 in the bank. If $30,000 is 3 percent of the total, you have to have $1 million in the bank. But withdrawing $30,000 from $750,000 is going to run out a lot sooner than withdrawing $30,000 from $1 million. And, you are in danger in the first scenario of outliving your savings because you spent down the principle.
I put in a set amount for expenses every year in the calculator -- required field. Using that amount as the standard for all situations, the calculator says you can retire sooner and sooner the higher the withdrawal rate. That isn't correct. People should be planning for lower withdrawal rates to account for a bad economy, not higher withdrawal rates. Telling them they can retire sooner the more they spend is seriously bad advice. At higher withdrawal rates, you run out of money sooner. The calculator even says I could have retired years ago when I had the return rate…22 votes
your chart is flawed
as i change the withdrawal percentage [see examples 3% - 7.7, 4% - 4.2, 5% - 1.8, 6% - 0.0] the more i withdraw, the less time i have until retirement??!? how TF does that make sense... unless i am missing something20 votes
Allow for salary (and income) increases
E.g. 20k for 4 years, then 30k (and increase of 5k spending) for 8 years etc.18 votes
Allow a different post-retirement annual expense
Since many of us plan on retiring abroad thus greatly reducing our annual expenses (and even if we don't move, many of us do reduce expenses a lot), the calculator should not assume by default that the current expense rate is also the post-retirement expense rate.16 votes
Add debt payoff
It would be amazing to figure the mortgage payoff in this scenario. It seems like a good move to make before retiring. I understand there are a lot of factors (principal, interest rate, timing and amount of payments) but I figured you might be up for a challenge!15 votes
Make a box with tax on investments
I live in Denmark where we pay 28 % in tax on investment gains in the stock market up till the first 48K (in DKK) we gain, and there after 48 % on any gains above 48K. I assume that we danes have to hit a 8 % safety margen before we can retire. Is it possible to make som boxe where we can enter tax on investment and then calculate?
Take income tax into consideration
Income tax typically higher during working years. Where do you put it? Expenses? If so, this over estimates time needed by assuming your expenses including high income tax during working years will be the same in retirement.11 votes
Error in the results
As you increase the Withdrawal rate, the number of years required before you can retire decreases. There must be an error in the math, as that makes no sense at all.10 votes
Bug in calculation
I put in the following values:
Current annual income: 434782
Current annual savings: 334782
Current annual expenses: 100000
Current savings rate: 76% (calculates automatically)
Current portfolio value: 850000
It says I can retire in 4.3 years. If I add ONE dollar to annual income and recalculate it says i can retire in 3.8 years with a 78% savings rate. That's a huge jump for 1 dollar.
As another example if I put in 400,000 for income it now says I can retire in 4.1 years. Meaning that making over 30,000 less would result in an earlier retirement date.10 votes
Create tooltips for each input box
It would be great to have some explanation of how to fill out the form and what each input box means. Links to more in depth explanations would be good too.9 votes
take into account inflation somewhere.
My expenses entered are the same year after year. shouldn't they increase by about 3% a year. Or is this somehow balanced with you not including expected wage increases in salary9 votes
Current Income not clear
Should read like after tax income (without looking at assumptions this could create poor calculations)8 votes
Add an input for income in retirement
I have several sources of income in retirement that do not come from my investment portfolio, including rental income and music royalties. Others might have social security or a pension. With the current retirement calculator I need to reduce my expenses by my additional income to get an accurate number. It would be nice to leave the expenses as your actual expenses and add in the additional income as a line item in the calculation.8 votes
Manual years to retirment
Instead of inputing "Current savings rate" can you input "desired years to retirment" and then it would give you all the figures needed to get that target?7 votes
Fix the calculator. I entered my data, hit crunch the numbers - and nothing happened. Do I need to sign up or something to make it active?7 votes
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