I use the Fidelity Retirement Planner. It asks you to enter a FIXED monthly withdrawal amount and it then uses that same amount (adjusted for inflation) for the ENTIRETY of the plannable lifetime. I think Empower does it the same way.
That just seems overly simplistic to me. Sure you will spend more on travel when you are younger and more on healthcare when you are older, but why assume your expenses will be the same at 66 that they will at 86?
Is there a way to adjust the withdrawals over time in the Fidelity tool, or is there a tool that does allow you to customize the withdrawal amounts over time?
Thanks
That just seems overly simplistic to me. Sure you will spend more on travel when you are younger and more on healthcare when you are older, but why assume your expenses will be the same at 66 that they will at 86?
Is there a way to adjust the withdrawals over time in the Fidelity tool, or is there a tool that does allow you to customize the withdrawal amounts over time?
Thanks
Statistics: Posted by Kistle — Sat Jul 13, 2024 7:55 pm — Replies 1 — Views 207