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A retirement nest egg calculator from Vanguard
Posted by: freeradical
Date: August 04, 2021 05:44PM
Plug in how long you want the money to last, how much you have, your asset mix, and how much you plan to pull out each year. It then returns a probability in percent that your savings will last as long as you want.

[retirementplans.vanguard.com]
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Re: A retirement nest egg calculator from Vanguard
Posted by: stephen
Date: August 04, 2021 06:41PM
Something much on my mind. Thank you.
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Re: A retirement nest egg calculator from Vanguard
Posted by: jdc
Date: August 04, 2021 07:01PM
I need to work until Im 175.





Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: A retirement nest egg calculator from Vanguard
Posted by: Acer
Date: August 04, 2021 07:20PM
It's a Monte Carlo simulator, which I think is better than the usual "guess your own rate of return" calculators, but I wish it had more variables to play with, like a future retirement date.

Here's my favorite calculator. Monte Carlo, but with the ability to play with the assumptions and timeline:

[firecalc.com]



Edited 1 time(s). Last edit at 08/04/2021 07:20PM by Acer.
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Re: A retirement nest egg calculator from Vanguard
Posted by: rz
Date: August 04, 2021 07:43PM
It said I have an 88% chance of my money to last 30 years if I take out 4% a year.
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Re: A retirement nest egg calculator from Vanguard
Posted by: davester
Date: August 04, 2021 10:27PM
That's way too simple a retirement calculator. As noted by @Acer, firecalc is pretty good. However, the best ones I have found are the following, from simplest to most complex:

[financialmentor.com]

[www.flexibleretirementplanner.com]

[www.i-orp.com] (I use the extended version, but the basic is pretty useful also).

Note that some of these use Monte Carlo analysis and some don't. I suggest that anyone who's retiring sometime in the next decade or two run several of these calculators to get a sense of the range of uncertainties.



"In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time something like that happened in politics or religion." (1987) -- Carl Sagan
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Re: A retirement nest egg calculator from Vanguard
Posted by: ztirffritz
Date: August 05, 2021 05:53AM
I could comfortably retire now according to that calculator.



**************************************
MacResource User Map: [www.zeemaps.com]#
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Re: A retirement nest egg calculator from Vanguard
Posted by: Ombligo
Date: August 05, 2021 06:09AM
The [www.i-orp.com] that davester posted is the only one that works for me. It allows for combining spousal accounts and can handle a variety of investment options (we have multiple ira's, annuities, etc to consider). While its growth calculation is very conservative, that is not really a bad thing - better safe than sorry.

I used to use visualcalc from MoneyWatch, but they did a fundamental redesign in the last year and made it useless.



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld

Growing older is mandatory. Growing up is optional.
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Re: A retirement nest egg calculator from Vanguard
Posted by: ztirffritz
Date: August 05, 2021 08:02AM
Quote
Ombligo
The [www.i-orp.com] that davester posted is the only one that works for me. ...

That one doesn't seem to work for me. It says that I'll have less money when I retire than I currently have. That doesn't make sense to me. Every other time I've tried one of these retirement calculators, they tell me that I'm grossly over saving/investing for retirement. I don't expect SS to be an option by then so I'm planning to do it on my own. If I do still get SS, then that will be a very nice bonus.



**************************************
MacResource User Map: [www.zeemaps.com]#
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Re: A retirement nest egg calculator from Vanguard
Posted by: davester
Date: August 05, 2021 09:16AM
Quote
ztirffritz
Quote
Ombligo
The [www.i-orp.com] that davester posted is the only one that works for me. ...

That one doesn't seem to work for me. It says that I'll have less money when I retire than I currently have. That doesn't make sense to me. Every other time I've tried one of these retirement calculators, they tell me that I'm grossly over saving/investing for retirement. I don't expect SS to be an option by then so I'm planning to do it on my own. If I do still get SS, then that will be a very nice bonus.

That's really not possible unless all your savings are in cash or and bond accounts and sounds to me like you may have one or more input parameters wrong. Note that a weird thing about i-orp is that the dollar entries are in thousands of dollars (i.e. enter 100 instead of 100,000) although I can't see how that could be causing the problem you describe.



"In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time something like that happened in politics or religion." (1987) -- Carl Sagan



Edited 2 time(s). Last edit at 08/05/2021 09:18AM by davester.
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Re: A retirement nest egg calculator from Vanguard
Posted by: Speedy
Date: August 05, 2021 10:02AM
I’m doomed.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: A retirement nest egg calculator from Vanguard
Posted by: Buzz
Date: August 05, 2021 02:50PM
"Please change your name to Elvis Jackson, and become a Pop Rock beneficiary...."
==
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Re: A retirement nest egg calculator from Vanguard
Posted by: Lux Interior
Date: August 06, 2021 07:48AM
Quote
Buzz
"Please change your name to Elvis Jackson, and become a Pop Rock beneficiary...."
==

I'm gonna change my name to "feat." and rake in the royalties!
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