Drawdown Planner Spreadsheet

dustymil59

Hi All,

Does anyone know where i can get (or share) a drawdown planner, I've looked at many online but they seem fairly basic and cannot be customised for individual circumstances, plus quite a few don't not allow for inflationary effects, other income or income variation.

I'm happy to pay for something that works.

The "The Number" thread goes back someway, is now 283 pages and appears to have lost it's original intention. 

TIA

Moonwolf

Do you mean something like this? https://www.guiide.co.uk/

This allows you to put in your pension pot and savings and other incomes tells you if you will run out of money or might do.  It is free and understand UK.

pterri

Moonwolf said:

Do you mean something like this? https://www.guiide.co.uk/

This allows you to put in your pension pot and savings and other incomes tells you if you will run out of money or might do.  It is free and understand UK.

This is a good one, allows a few different types of funding but not overly complex. Works for me when entering DB, SIPP, ISA etc…. Does a stress test as well

leosayer

I went through a few iterations of my own spreadsheet calculator before settling on the linked one below which allows for multiple pots and guaranteed income streams, inflationary effects and different investment return scenarios.

https://youtu.be/7Wkr5QtY-G8?si=PmjASQa-KvWvFtie

dustymil59

Hi Folks, has anyone got any experience of this planner, https://myfinancefuture.com £95 direct or £90 with Registration at The Retirement Cafe. It looks interesting but then I'm no expert in these things!

TheQuaker

I'm new to thinking about pensions at 51! Just realised the importance at the beginning of the year and have been looking on this forum for initial guidance. I came across the youtube video mentioned by leosayer and also advocate. 35 mins step by step creating your own starter planner. You can also download a full example. Just did mine at the weekend and a greater eye opener for me.

MeteredOut

dustymil59 said:

Hi Folks, has anyone got any experience of this planner, https://myfinancefuture.com £95 direct or £90 with Registration at The Retirement Cafe. It looks interesting but then I'm no expert in these things!

I've never seen that before but have just had - the free version looks pretty decent and the premium options looke like they've be of value too. But, i'm not sure I'd pay for the full version when you can get the same results (with some work) from a spreadsheet. I built mine based on the video posted above, integrated into my existing finances sheet.

Have you tried https://www.guiide.co.uk/ (though i don't think it does couples planning yet, but its on the roadmap)

dustymil59

MeteredOut said:

dustymil59 said:

Hi Folks, has anyone got any experience of this planner, https://myfinancefuture.com £95 direct or £90 with Registration at The Retirement Cafe. It looks interesting but then I'm no expert in these things!

I've never seen that before but have just had - the free version looks pretty decent and the premium options looke like they've be of value too. But, i'm not sure I'd pay for the full version when you can get the same results (with some work) from a spreadsheet. I built mine based on the video posted above, integrated into my existing finances sheet.

Have you tried https://www.guiide.co.uk/ (though i don't think it does couples planning yet, but its on the roadmap)

I agree that a lot can be done with the basic version but in the great scheme of things £95 isn't a fortune so I might just take a punt to see what use the premium version is, in particular regarding taxation. I suspect that this planner has gone through a mountain of  development and critique and it appears to be UK based. 

cfw1994

dustymil59 said:

MeteredOut said:

dustymil59 said:

Hi Folks, has anyone got any experience of this planner, https://myfinancefuture.com £95 direct or £90 with Registration at The Retirement Cafe. It looks interesting but then I'm no expert in these things!

I've never seen that before but have just had - the free version looks pretty decent and the premium options looke like they've be of value too. But, i'm not sure I'd pay for the full version when you can get the same results (with some work) from a spreadsheet. I built mine based on the video posted above, integrated into my existing finances sheet.

Have you tried https://www.guiide.co.uk/ (though i don't think it does couples planning yet, but its on the roadmap)

I agree that a lot can be done with the basic version but in the great scheme of things £95 isn't a fortune so I might just take a punt to see what use the premium version is, in particular regarding taxation. I suspect that this planner has gone through a mountain of  development and critique and it appears to be UK based. 

Also not seen that before….the basic one tells me “ Your Quick Plan is looking good so far - there is no shortfall which means you have enough money to fund every year of your lifetime”, so I think I will stop there 🤣

It does look a decent tool.  

Like perhaps many here, I have my own spreadsheet, with a month per row and many columns for pensions, income requirement then columns of where our money is invested and how we plan to draw down, but obviously not with masses of “monte carlo simulations” etc.
I did have a play with the cfiresim ones in the distant past, & one of my favourite other planning tools was https://whatapalaver.co.uk/retirement-planning-couples.

If you do have a go at the Premium version, maybe report back here when you’ve had a good play 👍

dustymil59

cfw1994 said:

dustymil59 said:

MeteredOut said:

dustymil59 said:

Hi Folks, has anyone got any experience of this planner, https://myfinancefuture.com £95 direct or £90 with Registration at The Retirement Cafe. It looks interesting but then I'm no expert in these things!

I've never seen that before but have just had - the free version looks pretty decent and the premium options looke like they've be of value too. But, i'm not sure I'd pay for the full version when you can get the same results (with some work) from a spreadsheet. I built mine based on the video posted above, integrated into my existing finances sheet.

Have you tried https://www.guiide.co.uk/ (though i don't think it does couples planning yet, but its on the roadmap)

I agree that a lot can be done with the basic version but in the great scheme of things £95 isn't a fortune so I might just take a punt to see what use the premium version is, in particular regarding taxation. I suspect that this planner has gone through a mountain of  development and critique and it appears to be UK based. 

Also not seen that before….the basic one tells me “ Your Quick Plan is looking good so far - there is no shortfall which means you have enough money to fund every year of your lifetime”, so I think I will stop there 🤣

It does look a decent tool.  

Like perhaps many here, I have my own spreadsheet, with a month per row and many columns for pensions, income requirement then columns of where our money is invested and how we plan to draw down, but obviously not with masses of “monte carlo simulations” etc.
I did have a play with the cfiresim ones in the distant past, & one of my favourite other planning tools was https://whatapalaver.co.uk/retirement-planning-couples.

If you do have a go at the Premium version, maybe report back here when you’ve had a good play 👍

I like the whatapalaver one too and to his credit, the author has put a lot of time and effort into it.

If I plunge for the premium version then I'll be sure to report back.

cloud_dog

dustymil59 said:

Hi Folks, has anyone got any experience of this planner, https://myfinancefuture.com £95 direct or £90 with Registration at The Retirement Cafe. It looks interesting but then I'm no expert in these things!

I don't find the results as digestible as Guiide.  Now that can be for the obvious reason that they would like you to pay for the service, but as a freebie it doesn't offer much over Guiide, other than a useful 'biggie', it does allow you to enter you and your partner's details, so that is a big free plus for it.