Author Topic: Do you have a favorite retirement calculator?  (Read 2237 times)

mustachianteacher

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Do you have a favorite retirement calculator?
« on: December 26, 2015, 04:35:11 PM »
I'm familiar with MMM's shockingly simple math behind achieving FI, but I still like playing around with online calculators that try to address all the variables. Thus far, I have used FireCalc several times and really liked it. I've tried I-ORP a couple of times, but I have to confess that I just don't understand its output very well, so I haven't returned to that one in a while. (Yes,  I read all the definitions. I'm still confused.)

Anyone else have any favorites? Suggestions?
« Last Edit: December 26, 2015, 04:46:46 PM by msjd123 »

davisgang90

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MDM

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Re: Do you have a favorite retirement calculator?
« Reply #2 on: December 26, 2015, 07:39:07 PM »
I've tried I-ORP a couple of times, but I have to confess that I just don't understand its output very well....
It does hit you with a lot of output, that's true, and is more complex than most.  Whether that is good or bad might depend on which saying one believes applicable:
1) William of Occam: Among competing hypotheses, the one with the fewest assumptions should be selected.
2) H.L. Mencken: There is always an easy solution to every human problem—neat, plausible, and wrong.

If you have some specific questions about the i-orp output it might be worthwhile posting here to see if the community can provide a helpful perspective.


arebelspy

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Re: Do you have a favorite retirement calculator?
« Reply #3 on: December 26, 2015, 08:17:46 PM »
I prefer Networthify for a quick simple estimate, and cFIREsim for more in-depth calculations.
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mustachianteacher

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Re: Do you have a favorite retirement calculator?
« Reply #4 on: December 27, 2015, 06:44:38 PM »
These are great, thanks! I'll definitely have a closer look at them when I have a good long stretch of time.

MDM, I got the big picture from I-Orp, and the big picture was sufficient, but that's what prompted me to ask for other calculators. Can't hurt to plug my numbers into more than one.

MDM

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Re: Do you have a favorite retirement calculator?
« Reply #5 on: December 27, 2015, 06:57:04 PM »
Can't hurt to plug my numbers into more than one.

Very true - we've done exactly that.