FIRECALC Bob Clyatt 95% rule user just learned about the FRP

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ochotona
Posts: 10
Joined: Fri Feb 03, 2023 2:38 pm

FIRECALC Bob Clyatt 95% rule user just learned about the FRP

Post by ochotona »

Hi there, I haven't even dug into the software yet, but it looks very good from the documentation. I have been using Bob Clyatt's 95% rule on FIRECALC, any thoughts on whether the 95% rule is made totally obsolete by FRP, or do 95% users continue to run it in parallel with FRP?
jimr
Posts: 821
Joined: Thu Feb 28, 2008 6:48 pm

Re: FIRECALC Bob Clyatt 95% rule user just learned about the FRP

Post by jimr »

Hello and thanks for the question.

I'm not sure how users tend to utilize the various retirement planning tools out there, but I think it'd be perfectly reasonable to use FRP and Firecalc in parallel. My personal opinion is that it can be helpful to use multiple retirement planning tools to see where their results converge and where they differ. You can often learn things about your plan's strengths and weaknesses by digging in to why different tools show different results.

In terms of the flexible spending model in FRP, I'd say it has some things in common with the 95% rule, but it's also different in that it only loosely connects retirement spending to your portfolio value. It's sort of a hybrid between a fixed spending model and one based strictly on portfolio value. So that's another reason to track your progress in both tools.

If you decide to give FRP a try and you have any questions, please don't hesitate to ask here in the forum or by email at info@flexibleRetirementPlanner.com (please don't send personal financial info since email isn't secure).

Jim
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