Drawdown Planner Spreadsheet

cfw1994

dustymil59 said:

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 her 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.

Angela Wolff did a great job, I feel 😉
Do let us know how you get on 👍

I’m pretty happy with my own spreadsheet: coming up to 4 years in here 💪
I track things from month to month & YoY - I consider it a minor hobby 🤪 - if our overall wealth is equal of better than it was a year ago, things must be okay 🤷‍♂️
That said, I am always interested in other views (hence why I dip in here regularly).  Stay curious!
Retirement isn’t a destination, but a journey 😎🎉

dustymil59

So 15 months on and life has been better difficult since last posting on this, but now back on the retirement plan!

The premium version was OK but no better than the spreadsheets built using the very decent video above, my subscription ran out after 12 months and I don't feel the urge to renew it, especially since i like and got used to the spreadsheets.

mrklaw

I liked Edmund baileys one from earlier - he customised for some alternate return rates and use duplicated tabs to try what-ifs

it’s good but I also wanted some nominal vs real & planned vs actual tracking to show deviation from the plan. Planning in real but then updated balances each year would always be nominal

I have some manual stuff for now but also we’re hopefully only a few years off so can probably fudge the gaps

NormalNorman

We just have a google sheet.

It lists all retirement income streams, when they start and when they cease. It also has a split so on one side is all the guaranteed money like PT job till 67, DBs, SPs and on the other, DC pots. It's all based in todays money.

Then below it's all displayed on a stacked graph i.e. there is a column for each year of retirement which makes earnings very visible. Each income stream is a different colour. The first column is current incomes for comparison. Certainly helps with planning.

The only thing I'm not to sure how to incorporate is known lump sums that will arrive in the future? No mortgage or debts so I guess the money will be drip fed into ISAs, SIPPs, PBs.

Another addition I need to do is incorporate a line graph across the years for mandatory outgoings. The idea is to show disposable income. For example, in three years at retirement income may be lower but our outgoings will drop by £1500 per month plus no NI to pay nor £2k pm pension contributions deducted from our salaries.

cloud_dog

I use a similar sounding sheet to yourself, unsure if is the one I borrowed from someone (I think it was a 'stress testing' spreadsheet from one of the YT gurus) and began enhancing it.

Re your comment on contributions, I've simply added a column against the flexible income pots / columns (DCs, ISAs), and plan any contributions in that way.