Good discussion. Remember that when you hear these huge cost numbers for healthcare, those costs are estimated over many years. You could do the same for your food or transportation costs. Why would you scare yourself that way? Knowing your expenses is a great idea, but don't get carried away with multivariable projections that mean little to your situation.
We do not have widespread reports of issues with our mobile app at this time. Please note that if you are residing outside of the US, you may have downloaded an app that is not associated with our firm. More information about our mobile apps can be found here: www.fidelity.com/mobile/overview If this does not match your issue, we encourage you to contact us on another social media platform with private message capabilities. You can find all our contact information on the page below: Contact Us: www.fidelity.com/customer-service/contact-us
What rate of withdrawal do you think makes more sense? Historically the 4% has been the rule, but more recently I have read that it should be more like 3.3%! What do you think? Also the largest increase in cost will be healthcare expenses and fees! Medicare is still expensive and doesn’t cover everything! I drive my cars to the ground, the last car I gave to the scrap yard it had 250,000 miles.
You don’t provide enough information to answer this question. It’s a complex and nuanced topic. Read the safe withdrawal rate series on early retirement now website. Just google ‘ERN SWR’
I appreciate this conversation. Thank you. I can't say I understand much of it in total. I am on a fixed income and I need to do something to build the very little I have into something that I can build up to something sustainable. Where do I start?
We're glad to hear that you are wanting to learn more! You're definitely in the right place. Our website has many excellent resources and is a great place to start. First, visit "News & Research" on the website to look at our Learning Center. There is an extensive library of articles, a large collection of On-Demand videos, an upcoming events section for webinars, and guides. If you're ready to start, you can easily open an online account. We even have some promotions running right now that may interest you: Current special offers at Fidelity: www.fidelity.com/go/special-offer Finally, if you'd rather speak to one of our representatives, we are available 24/7 to help you get started. Contact Us: www.fidelity.com/customer-service/contact-us Please don't hesitate to ask any questions about specific account types or features on our site. We're here to help!
Hey there, Luke! Thanks for commenting. The Fidelity.com website is a great tool to learn more about many types of investments. You can follow the link below to our Fidelity Learn page, where you can find a variety of helpful articles. Fidelity Learn www.fidelity.com/learning-center/overview Additionally, you can click the "Topics" button from Fidelity Learn if you're unsure where to start or type in a keyword or phrase to be guided to a library of information. You can even find information on broad topics, like general investing. If you have any specific questions we can help with, please don't hesitate to reach back out to us!
Have you or do you plan to have a video on the planning tool that explains what numbers are used on each column of the chart output? Some of the numbers shown on my forecast don't make sense to me and I would like to understand what I am missing.
Thanks for reaching out, Mike! Please let us know what numbers or charts aren't making sense to you, and we'll happily clarify them. We look forward to hearing back from you!
@@Fidelity Thanks for the reply! Confusion #1 - I've been trying to determine why my "Future Dollar" assets are higher than "Today's Dollar" assets even though inflation is causing my living expense dollars to increase quicker than my social security income. (my "Future Dollar" assets seem equal "Today's Dollar" assets * the inflation rate, 2.44%/year). I have been using the table data (Average Market) and trying to work through the math. In my situation, my assumptions: 1)Total Expenses = SS tax + the withdrawal amount to cover my living expenses and taxes. 2) Inflation is used to adjust expenses and SS only in the "Future Dollar" selection. Here's my confusion #2 - Looking at my "Total Expense" column, even though I am using "Today's Dollar", my numbers increase every year, I figured those numbers would stay flat, since it wasn't inflation adjusted, my SS numbers do stay flat. Confusion #3 - for a test, I put in $1 for my monthly living expenses ($12/year) and $0 for my SS payment. I was expecting to see "Total Expenses" to be $15 in the year 2025 ($12 + taxes), but instead I see $66. I don't know what other items factor into my "Total Expenses". Is there a document that explains what factors into into each of the columns used in the table? I must be misunderstanding something. Thanks again, and sorry for the long response. Mike
Thanks for the reply! I've been trying to determine why my "Future Dollar" assets are higher than "Today's Dollar" assets even though inflation is causing my living expense dollars to increase quicker than my social security income. (my "Future Dollar" assets seem equal "Today's Dollar" assets * the inflation rate, 2.44%/year), Confusion #1 I have been using the table data (Average Market) and trying to work through the math. In my situation, my assumptions: 1)Total Expenses = SS tax and the withdrawal amount to cover my living expenses and taxes. 2) Inflation is used to adjust expenses and SS only in the "Future Dollar" selection. Here's my confusion #2 - Looking at my "Total Expense" column, even though I am using "Today's Dollar", my numbers increase every year, I figured those numbers would stay flat, since it wasn't inflation adjusted, my SS numbers do stay flat. Confusion #3 - for a test, I put in $1 for my monthly living expenses ($12/year) and $0 for my SS payment. I was expecting to see "Total Expenses" to be $15 in the year 2025 ($12 + taxes), but instead I see $66. I don't know what other items factor into my "Total Expenses". Is there a document that explains what factors into each of the columns used in the table? I must be misunderstanding something. Thanks again, and sorry for the long response. Mike @@Fidelity
Thank you for following up with us, Mike. We're glad you're taking advantage of our Planning & Guidance tool. We're happy to provide a bit of insight into that portion of our site. As you know, the outputs of the Planning & Guidance Center tools are impacted by each user's inputs, current assets, investments, and more. You can review the "Methodology" section within the tool to review in-depth details about each calculation. To review this section, click "Help & Methodology" near the top right corner while in the Planning & Guidance Center tool. As a tip, it may be easiest to search for the specific terms by holding "ctrl + F" on your keyboard while the document is open. We love that you're using the tools and resources available to you on our site, and we are happy to address anything that comes up along the way.
Thanks, I have been looking through the methodology document for several months now, it isn't detailed enough for my issues. I will try some other avenues. Thanks again!@@Fidelity
Good discussion. Remember that when you hear these huge cost numbers for healthcare, those costs are estimated over many years. You could do the same for your food or transportation costs. Why would you scare yourself that way? Knowing your expenses is a great idea, but don't get carried away with multivariable projections that mean little to your situation.
Don’t need portfolio manager. You are your own portfolio manager . Invest in broader diversitied index fund. Let time be your friend.
We do not have widespread reports of issues with our mobile app at this time. Please note that if you are residing outside of the US, you may have downloaded an app that is not associated with our firm.
More information about our mobile apps can be found here: www.fidelity.com/mobile/overview
If this does not match your issue, we encourage you to contact us on another social media platform with private message capabilities. You can find all our contact information on the page below:
Contact Us: www.fidelity.com/customer-service/contact-us
What rate of withdrawal do you think makes more sense? Historically the 4% has been the rule, but more recently I have read that it should be more like 3.3%! What do you think?
Also the largest increase in cost will be healthcare expenses and fees!
Medicare is still expensive and doesn’t cover everything!
I drive my cars to the ground, the last car I gave to the scrap yard it had 250,000 miles.
You don’t provide enough information to answer this question. It’s a complex and nuanced topic. Read the safe withdrawal rate series on early retirement now website. Just google ‘ERN SWR’
I appreciate this conversation. Thank you. I can't say I understand much of it in total. I am on a fixed income and I need to do something to build the very little I have into something that I can build up to something sustainable. Where do I start?
We're glad to hear that you are wanting to learn more! You're definitely in the right place.
Our website has many excellent resources and is a great place to start.
First, visit "News & Research" on the website to look at our Learning Center. There is an extensive library of articles, a large collection of On-Demand videos, an upcoming events section for webinars, and guides.
If you're ready to start, you can easily open an online account. We even have some promotions running right now that may interest you:
Current special offers at Fidelity: www.fidelity.com/go/special-offer
Finally, if you'd rather speak to one of our representatives, we are available 24/7 to help you get started.
Contact Us: www.fidelity.com/customer-service/contact-us
Please don't hesitate to ask any questions about specific account types or features on our site. We're here to help!
Vanguard ETFs
I need to know more about short-term/monthly investing.
Hey there, Luke! Thanks for commenting.
The Fidelity.com website is a great tool to learn more about many types of investments. You can follow the link below to our Fidelity Learn page, where you can find a variety of helpful articles.
Fidelity Learn www.fidelity.com/learning-center/overview
Additionally, you can click the "Topics" button from Fidelity Learn if you're unsure where to start or type in a keyword or phrase to be guided to a library of information. You can even find information on broad topics, like general investing.
If you have any specific questions we can help with, please don't hesitate to reach back out to us!
Have you or do you plan to have a video on the planning tool that explains what numbers are used on each column of the chart output? Some of the numbers shown on my forecast don't make sense to me and I would like to understand what I am missing.
Thanks for reaching out, Mike!
Please let us know what numbers or charts aren't making sense to you, and we'll happily clarify them.
We look forward to hearing back from you!
@@Fidelity Thanks for the reply! Confusion #1 - I've been trying to determine why my "Future Dollar" assets are higher than "Today's Dollar" assets even though inflation is causing my living expense dollars to increase quicker than my social security income. (my "Future Dollar" assets seem equal "Today's Dollar" assets * the inflation rate, 2.44%/year).
I have been using the table data (Average Market) and trying to work through the math. In my situation, my assumptions: 1)Total Expenses = SS tax + the withdrawal amount to cover my living expenses and taxes. 2) Inflation is used to adjust expenses and SS only in the "Future Dollar" selection.
Here's my confusion #2 - Looking at my "Total Expense" column, even though I am using "Today's Dollar", my numbers increase every year, I figured those numbers would stay flat, since it wasn't inflation adjusted, my SS numbers do stay flat. Confusion #3 - for a test, I put in $1 for my monthly living expenses ($12/year) and $0 for my SS payment. I was expecting to see "Total Expenses" to be $15 in the year 2025 ($12 + taxes), but instead I see $66. I don't know what other items factor into my "Total Expenses".
Is there a document that explains what factors into into each of the columns used in the table? I must be misunderstanding something.
Thanks again, and sorry for the long response.
Mike
Thanks for the reply! I've been trying to determine why my "Future Dollar" assets are higher than "Today's Dollar" assets even though inflation is causing my living expense dollars to increase quicker than my social security income. (my "Future Dollar" assets seem equal "Today's Dollar" assets * the inflation rate, 2.44%/year), Confusion #1
I have been using the table data (Average Market) and trying to work through the math. In my situation, my assumptions: 1)Total Expenses = SS tax and the withdrawal amount to cover my living expenses and taxes. 2) Inflation is used to adjust expenses and SS only in the "Future Dollar" selection.
Here's my confusion #2 - Looking at my "Total Expense" column, even though I am using "Today's Dollar", my numbers increase every year, I figured those numbers would stay flat, since it wasn't inflation adjusted, my SS numbers do stay flat. Confusion #3 - for a test, I put in $1 for my monthly living expenses ($12/year) and $0 for my SS payment. I was expecting to see "Total Expenses" to be $15 in the year 2025 ($12 + taxes), but instead I see $66. I don't know what other items factor into my "Total Expenses".
Is there a document that explains what factors into each of the columns used in the table? I must be misunderstanding something.
Thanks again, and sorry for the long response.
Mike
@@Fidelity
Thank you for following up with us, Mike. We're glad you're taking advantage of our Planning & Guidance tool. We're happy to provide a bit of insight into that portion of our site.
As you know, the outputs of the Planning & Guidance Center tools are impacted by each user's inputs, current assets, investments, and more. You can review the "Methodology" section within the tool to review in-depth details about each calculation.
To review this section, click "Help & Methodology" near the top right corner while in the Planning & Guidance Center tool. As a tip, it may be easiest to search for the specific terms by holding "ctrl + F" on your keyboard while the document is open.
We love that you're using the tools and resources available to you on our site, and we are happy to address anything that comes up along the way.
Thanks, I have been looking through the methodology document for several months now, it isn't detailed enough for my issues. I will try some other avenues. Thanks again!@@Fidelity
What happened yo fidelity my withdrawal is cannot transfery account 😊
TOO MUCH BLAH BLAH AND NOT TO THE POINT!!! 😢
Useless