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Big Guide
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Down Guide
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Myth (sorry Andrew!) Illustration
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retireby40 - I encourage you to read the book to understand why the FireCalc assumptions are dangerously misleading and why the Ultimate Retirement Calculator is structured the way it is. The reality is there is no perfect solution, but there is research and conscious decision as to why it is the way it is. Old Limey - "retirement" is in quotations. I've written extensively on this topic. I'm clearly not "retired" in the traditional sense since I'm working as a financial educator and writing books. My focus shifted from career and income earning to creativity and contribution. I'm also working to redefine how people view the terms "retirement" and "financial independence". It is far more amorphous than commonly understood when the true goal is happiness and fulfillment.
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FMF - I respect and appreciate your take on my retirement calculator as illustrated by your explanation... "I've used it to run what-if scenarios and like the way it helps me think about what I need to save, make, etc. in retirement." You got it exactly right - "scenario" planning - that is how to use these tools wisely. Unfortunately, several reader comments were quite the opposite and focused on details that confuse and lead to inaccurate conclusions. Explaining these issues is too involved for a blog comment so I took the time to write an educational post explaining in detail the common errors illustrated by some of the above comments... I hope your readers find it helpful to understand why the calculator is designed the way it is. Believe me, none of the issues raised were oversights. It is all by design for specific reasons. Hope this helps...
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Thanks for the mention on the retirement calculator. Much appreciated! Hopefully Karen (above) finds it more to her liking. I had it custom programmed for the very reasons she stated.
Toggle Commented Dec 12, 2011 on Best Finance Stuff in 2011 at Free Money Finance
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Dec 12, 2011