Thoughts on This FIRE Calculator?

Chiwa_09

Chiwa_09

New member
Hi everyone, A friend of mine is looking into using a FIRE calculator they came across recently to plan out their financial goals. It includes other models to help figure out how current savings and investments align with future goals. Before they dive in, he is wondering if anyone here has used it (or similar tools) and what your thoughts are? Is it worth relying on these calculators, or are there better ways to map out a FIRE plan?
 
It looks decent, but it is missing one important point: what are your chances of success in retirement. It basically only tells you in how many years you can retire, but does not tell you have about anything once you are retired.
 
Baptiste Wicht said:
It looks decent, but it is missing one important point: what are your chances of success in retirement. It basically only tells you in how many years you can retire, but does not tell you have about anything once you are retired.
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That’s a great point, but sir, I think for that, the Fat FIRE calculator could be a better fit since it considers factors like higher income needs and how much you'd need to comfortably retire without worrying about running out of funds, correct me if I am wrong, Thank you for your response!
 
I actually think the other one is even worse because it's not even based on a portfolio and a withdrawal rate :)

For instance, I have a calculator that let you know your chances of success in retirement:

FIRE Calculator - The Best Withdrawal Rate For Your Retirement - The Poor Swiss

The FIRE calculator calculates the success rate of a withdrawal rate for a given situation. The calculator will try a retirement simulation starting at every
thepoorswiss.com thepoorswiss.com

And another one that tells you how many years you have left:

Retirement Calculator - When Will You Be Financially Free? - The Poor Swiss

This awesome retirement calculator can tell you how much you need to retire! And it can also tell you how long you will need to reach this amount!
thepoorswiss.com thepoorswiss.com
 
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