Author Topic: Advice on how to calculate FI with a pension  (Read 832 times)

Captain_Awesome

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Advice on how to calculate FI with a pension
« on: December 22, 2021, 10:45:34 AM »
Hello,

This is my first post! My wife and I have been on our FI journey for about 8 years. We are currently looking at our options for Coast FIRE while moving abroad. The struggle I'm having is figuring out how to factor in her pension to our overall FI number. I don't want to post too many specifics publicly. My hope is to connect with someone who may be able to help me determine how best to calculate all of this, either via DM, email, or phone/zoom call. I'm happy to trade proofs of identity and all of that before we get into details.

If anyone has experience in this realm and would like to do a solid for a fellow Mustachian, I would be most grateful!

RWD

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Re: Advice on how to calculate FI with a pension
« Reply #1 on: December 22, 2021, 10:53:02 AM »
If the pension will be adjusted for inflation you can probably just offset your expected expenses by the pension amount. Otherwise it might be better to enter it into cFIREsim as an adjustment (there's even a drop down option for Pension).

secondcor521

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Re: Advice on how to calculate FI with a pension
« Reply #2 on: December 22, 2021, 01:27:39 PM »
Agree with the above.  FIREcalc can also handle a pension whether inflation adjusted or not and one that starts at some point in the future.  It should give a similar result to cFIREsim.

https://www.firecalc.com/

The second tab across the top is "Other Income/Spending" which is where you enter pensions (and Social Security if you want to).

 

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