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Which is the best online draw down calculator??
sgx2000
Posts: 515 Forumite
Which is the best online draw down calculator??
tried aviva hl and 2020
Are there any better?
tried aviva hl and 2020
Are there any better?
0
Comments
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What type of calculator are you after?
tax, monte carlo, stochastic modelling or other style?
Some calculators focus on tax. Others give very simple consistent assumptions which are not particularly useful.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
Personally I don't bother with drawdown calculators. All the work has already been done for me by people with far more knowledge than I will ever have.
I'm more interested in how my cash flow might be expected to go during retirement with drawdown just being an expected income stream on one column on my spreadsheet.2 -
What's your objective?sgx2000 said:Which is the best online draw down calculator??
tried aviva hl and 2020
Are there any better?1 -
Just learning....Thrugelmir said:
What's your objective?sgx2000 said:Which is the best online draw down calculator??
tried aviva hl and 2020
Are there any better?
Starting to see just how wide these estimates can be....
Inflation - unpredictable
Returns from stocks - unpredictable
Cash value - quantitative easing - Unpredictable
The only predictable part of pensions & investments is my confusion...
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Starting to see just how wide these estimates can be....Most calculators are not estimates. Calculators are often garbage in-garbage out. You can create some ridiculous outcomes with some of them.
However, some calculators use 20th-century data and show best/worst (and in between). Others use monte Carlo calculations that use reasonable assumptions to create a statistical expectation range.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.2 -
Timelineapp
The best I've come across, designed for FAs but easy enough to use as a client.
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The calculator on https://www.2020financial.co.uk appears to be 20th century data calculator...Thanks for the replyHowever, some calculators use 20th-century data and show best/worst (and in between). Others use monte Carlo calculations that use reasonable assumptions to create a statistical expectation range.
As I said. I am just trying to learn with the help of the very knowledgeable posters on this forum and once again, thank you..0 -
Best advice is not to get too stressed about the unpredictability . It helps though, if you have more in the war chest than you really need.sgx2000 said:
Just learning....Thrugelmir said:
What's your objective?sgx2000 said:Which is the best online draw down calculator??
tried aviva hl and 2020
Are there any better?
Starting to see just how wide these estimates can be....
Inflation - unpredictable
Returns from stocks - unpredictable
Cash value - quantitative easing - Unpredictable
The only predictable part of pensions & investments is my confusion...1 -
From the point of seeing how the markets are performing, I have found that Hargreaves Lansdown are very good. Their site shows far more than others and is easy to follow.
For many years before retirement, I kept my own spreadsheets on Excel, which had my various pensions and their growth. I believe that if you manage your finances well before retirement, you will have a better chance to know when to stop work and if a few extra years will make a big difference to the overall 'pot' of money built up for your future.
I gave up trying to calculate inflation and relied on what the pension funds were achieving and what they were invested in. Making changes over many years has resulted ig better results that what would have been achieve by just investing in pensions and leaving it up to the pension companies to select the investments.
The % of income that you are presently investing in pensions can make a huge difference to the end result and if you are trying to plan fore early retirement, then you will need to do far more.
Keep asking questions and looking at as much information as possible. It will become clearer as time goes by.I'm a retired IFA who specialised for many years in Inheritance Tax, Wills and Trusts. I cannot offer advice now, but my comments here and on Legal Beagles as Sam101 are just meant to be helpful. Do ask questions from the Members who are here to help.1 -
I've found this one very interesting - https://ficalc.app/
It allows you to model various withdrawal strategies and portfolio allocation
* of course it comes with the caveat that future growth is not guaranteed2
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