Fidelity Retirement Planning Software Analysis
Fidelity’s Retirement Planning software looks like a real winner. A subscriber sent this sample to me to investigate and to share with you all.
I like this a lot. Lots of detail. Lots of different ways to analyze your situation.
But what I like best is its focus on SPENDING not accumulation!
SPENDING rules the roost here with the Fidelity Retirement Planning program. And guess what? Spending is ALL that matters.
So, any program that puts the focus on the right category gets an “A” from me.
Now, I’ve no clue if this is free, if anyone can use it or what.
But if you’re interested in retirement planning software, give Fidelity’s a go.
================================
If you like what you see, a thumbs up helps A LOT. It tells YouTube that people are engaged and so the Youtube algorithm will show the video to others who may be interested in the content. So, give me a thumbs up, please!
Don’t forget to SUBSCRIBE by clicking here:
My Amazon Product page:
Anything you buy there Amazon pays me a commission. Much appreciated!
If you received value from this video and/or channel, and want to say thanks, feel free to send a donation via Paypal. I’m not too proud to ask!
Contact me: [email protected]
GET MY BOOKS:
ALL are FREE to Kindle Unlimited Subscribers!
The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It
Strategic Money Planning: 8 Easy Ways To Put Your House In Order
State by State Tax Guide For Retirees:
GET ALL MY LATEST BLOGPOSTS:
PODCAST:
LET’S SOCIALIZE!
Facebook:
Linkedin:
Quora:
Google +:
source
I just did my Fidelity plan. I clicked "live on less". After calculations, I figured out percent of current income–55%. Pretty aggressive reduction, but in the area I am thinking. Good job Fidelity.
I have a 401k with Fidelity and started using this tool. I noticed the withdrawal column doesn’t differentiate between qualified and non qualified accounts. Any thoughts on this.
Also when rmds start they show rmd withdrawals and regular withdraws together. I wouldn’t see any reason to take both. Am I missing something?
Thanks
I've used the Fidelity tool for the past few years since my ex-employer had our 401K administered by Fidelity. I've tried other tools too but I keep coming back to the Fidelity tool because its builds from EXPENSES first and then analyses income lay-in. You can manage inflation separately. I usually pick inflation for expenses at 3% and inflation for SS at 1-2%. I really like how you can plan one-time expenses into the model too, like buying a replacement car or when a mortgage will end. Its nice to throw "what-ifs" at it and look at the projected results. A model is a model, not real life, but its a great gauge.
The fidelity tool adjusts your projected income to be in current dollar figures but they do that to social security too which I don't understand why since SS will increase with inflation because they show income and expenses in current dollars. Still nice to have a tool saying I am on track. I can add my other retirement account so it has the current retirement balance.
Yup, I play with these types of tools as well.
The one that gives me the heebie jeebies is… RMDs.
RMDs are like an unwanted hole in your retirement bucket.
Thanks again.
I just tried it out now and found it to be a nice tool. It give a good high level overview that I don't have with my spreadsheet. How were you able to print out a report from this Fidelity tool?
I use it myself seems like it works
Thanks Josh I love the numbers crunching it's just smashing !!
It's free. Just log in as a guest.
Hopefully Randy's pension plan will be able to pay 100% by 2043 … and Congress enacts changes to SS in the near future to avoid significant benefit cuts. Probably doesn't matter since the world is going to end in 12 years.
Why did his pension keep dropping?
I use the Fidelity tool also, both our Roth's are with them. For a free tool I think it's decent, but I like the Right Capital software better. It's also nice to see similar results based on 2 different tools. Gives you some confidence in your retirement outcomes.
Josh,
One of our two 401Ks is in Fidelity so we used their retirement analysis tool. Our lifetime income in today dollars is $3M+ and 5M+ at end of life with a substantially less than market. Monies for 43 years but my plan is for 30 years to age 94. Interesting… Good luck to Randy.
Here is the Fidelity Retirement Planner Methodology. It might give some insight on "what is a significantly below market" condition, et al. I use Fidelity RIP as one of my planning tools. https://www.google.com/url?q=http://personal.fidelity.com/planning/retirement/pdf/rip_methodology.pdf&sa=U&ved=0ahUKEwjt3-_I2YThAhVDZKwKHS2WBvAQFggdMAM&usg=AOvVaw3NS5jAIGNcloNhuVKa3xZK
It's a pdf download.
The retirement planner is free to use, if you sign in as a guest.
It is a good tool Josh, my 401K is held at Fidelity and I like the interface. Here's another one to try sometime, and maybe do a video? (free download): https://www.flexibleretirementplanner.com/wp/
It has a TON of user inputs that you can change/play with.. Try it Josh and you'll have a blast 🙂