• Question
  • Can I increase projected income at the cost of savings growth?

    Asked by a 73 year old man from Englewood, CO on 12/30/2017

    Great Retirement planner but results show I'll have a huge saving surplus (over $6 million) but at the same time, a lower than average income for where I live. Can tweak the planner so that some saving growth is used for additional income? Ideally I'd like very little income left at the end of my retirement.

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  • Categories: Retirement Planning, Retirement Income

Answers

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  • Hi,

    Thanks for your question.

    With the free Planner you could just increase your expected Expenses on the Your Plan pages - then the system will draw more from your savings to cover that.

    We're rolling out PlannerPlus in the next 1-2 months that will give you better analysis tools and the ability to more granularly control your draw down strategy.

    You can sign up to join the waiting list here:

    https://www.newretirement.com/retirement-calculator/retirement-planning-options.aspx

    Best,

    Steve

  • Login to rate this answer:   Answered on 1/1/2018
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.