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I've run my retirement income calculations through Firecalc, cFiresim, and one other calculator....all results in family. And then I run it under i-ORP which tells me that my "maximum annual spending" will be 2/3 of what the other calculators are telling me.
Has anyone had issues with i-ORP results not being in family?
Maximum annual spending is after tax disposable income in i-ORP while FIRECALC results are generally pre-tax income. My results with i-ORP and FIRECALC have been relatively similar after accounting for taxes, certainly not a 1/3 difference. Also are you using the same investiment rate of return or asset allocation and inflation rate?
I haven't used i-OPR yet. I keep searching for an instruction manual or tutorial for assistance as the descriptions of the inputs, even when hovering the mouse over the blue font links, is very limited. I Googled "Tortine" to learn its definition and was shocked that it is even contained in a retirement calculator! Why not include Lottery Tickets as well?
I haven't used i-OPR yet. I keep searching for an instruction manual or tutorial for assistance as the descriptions of the inputs, even when hovering the mouse over the blue font links, is very limited. I Googled "Tortine" to learn its definition and was shocked that it is even contained in a retirement calculator! Why not include Lottery Tickets as well?
What lottery tickets are not part of a retirement plan? OMG I am in trouble. LOL
As I understand it, there are some known bugs within i-ORP that can cause these kinds of results. These glitches are not documented in any one place, or so I was told. I believe the early retirement forum has some experienced users who know where the bogies are and how to get around them.
I found that I was running it with "No Roth Conversions". When I enabled Roth Conversions, the results were in family. When conversions were not enabled, I was getting less than half of the annual spending max. That does not make sense to me that it would be that sensitive to conversions. Especially since the other calculators FIRECalc, etc. don't factor in Roth Conversions. As a note, all my retirement holdings are in tax-deferred assets and pensions.
I was able to run the Base Version today and received results that parallels those from all other projection tools I have used. After using the Base Version and reading the explanations of methodologies and default values, the extended version is not as intimidating.
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