Withdrawal calculator

[NoWiser]

Anyone have a recommendation for an App for tracking spending?

I was thinking that this withdrawal rate discussion is only half of the equation (what you have), the other half is what you spend (what you need).

It would be helpful to keep track of spending for a year to see what we really need live on, and I feel a bit ashamed that I don’t have better idea.

Anyone have any feedback on Monarch? Looking for something more automated than an Excel spreadsheet.

YNAB. I started it a year ago and it’s life-changing. I know, down to the penny, how much I spend each month and what I spent it on. My goal is to retire in 15 years at 57. By then there’ll be no question what we need to live each month. Not only is it allowing me to save more, I know it’ll allow me to retire, with confidence, earlier.

 

[SAJ-99]

Anyone have a recommendation for an App for tracking spending?

I was thinking that this withdrawal rate discussion is only half of the equation (what you have), the other half is what you spend (what you need).

It would be helpful to keep track of spending for a year to see what we really need live on, and I feel a bit ashamed that I don’t have better idea.

Anyone have any feedback on Monarch? Looking for something more automated than an Excel spreadsheet.

I think the spending part is the hardest to estimate. You end up with more free time. Some will spend more and others less.

 

[Treeshark]

YNAB. I started it a year ago and it’s life-changing. I know, down to the penny, how much I spend each month and what I spent it on.

YNAB and Monarch seem to be two that are most highly recommended. Your outcome is exactly what I’m looking for- thanks @NoWiser

 

[406dn]

You will likely spend a bit less in retirement to maintain the same standard of living as working.

Expenses that go down in retirement

No more FICA withholding

No more Medicare withholding

No more saving for retirement

No more cost of commuting

Clothing expenses, this did not apply to me since I wore company provided Nomex clothes.

If you save a bit on the above, and withdraw accordingly, your tax bill will be some smaller.