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Does anyone use the Fidelity Retirement planner?

#1
I have completed the Fidelity Retirement Planner.  It gives me information that indicates that I may be secure to take the next step.  I'm not basing my decision solely on the results with the system, but I am wondering what others think of the system and results it gives. 
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#2
It’s really pretty helpful especially if you fill out the budget. There's also a excel template budget.
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#3
Yes



My entire retirement financial spending forecast is based on two concepts that I have utilized for the past 20 years or more.

First: I incorporated a mortgage amortization schedule in the reverse mode, much like an annuity. For every $100,000 I have accumulated, I can spend "X" dollars per month over a 30 year time line or a 40 year term.

Second: I utilized the RP and all of its simulations per my expense and spending projections. There I use the worse case of market conditions scenario. And there, I have inflation factors and other unknowns factor in to the plan.

The two programs are within 25% of each other. The first plan is more generous; but I will have Zero dollars at the end of the time line. The RP has me with as much or more than I had at the start of my retirement. I am now seven years into my retirement and I have 33% more NAV than I did in 2011. But, we are in a Bull market; so I will play it safe until the Bear claws its way into my livelihood. After that term, I should be more relaxed with both plans.

The RP is a god-send for me as I am a hands-on person that works from within -no advisor of FP.
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#4
Thanks for the info. I like your approach of doing your own reverse amortization calculations. I've never done that in excel but I think I will give that a try now that you've made me curious. Also, like yourself, I have never consulted a financial planner since I have years of investment knowledge, an MBA, and almost got my securities license at one time to get into the industry, but I went another way instead.
 
I too have been using the Fidelity RP tool for several years. It has always seemed a robust tool if one takes the time to fill out all the inputs and projections. I also tend to be conservative and use projections based on presumed market performance of "significantly below average".
 
But...given the recent bad experience with Fidelity's botched "update" of the Full View tool, I pray they don't decide to mess around with the Retirement Planner. That will probably be the last straw for me and force me to find another investment company.
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#5
I started using it 8 years ago and when the job went away one year later I had the confidence it gave me not to panic, but say, good-bye to the stress without any anxiety and permanently retire.

"But...given the recent bad experience with Fidelity's botched "update" of the Full View tool, I pray they don't decide to mess around with the Retirement Planner. That will probably be the last straw for me and force me to find another investment company".

I'm right there with you,
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#6
I find it way too conservative and negligent in ignoring behavioral economic principles The realities of human behavior are that most people on this forum end up with more money at the end of their retirement due to "fear" of running out of money and hence under-spend. Secondly as people go from the go go years to the slow go years your spending declines dramatically,

The retirement planner may help some people who want to leave a large inheritance for children or a charity or to a younger spouse to spend your money after your gone
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