Comments on: myPlan, Fidelity’s Retirement Calculator, Said We Need $6 Million for Retirement

By: Compare Your Savings Rate against National Savings Rate Guidelines | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Wed, 25 Apr 2007 15:33:54 +0000

[...] net income” concept is unique, though it’s closer to reality. The last time when I used Fidelity’s myPlan retirement calculator to get an idea on how much we need for retirement, I was also asked for current monthly saving [...]

By: david

david — Wed, 14 Mar 2007 23:45:11 +0000

keep in mind that the Fidelity model uses an 85% last income replacement ratio. That may account for why their number seems so high. If you dont need that kind of money to live off of in retirement, then you may want to look for a calculator that will let you specify your desired assets at retirement, or your desired income in retirement.

By: Are We Saving Too Much? - The Sun’s Financial Diary - Accumulating wealth is like building The Great Wall, one brick at a time

Sun, 28 Jan 2007 20:18:28 +0000

[...] tell you the estimated number you are going to need for a comfortable retirement. For me, I tried Fidelity's myPlan a couple of moths ago, and the number I got was a shocking $6M. Vanguard's calculator gave a [...]

By: The Boomer Chronicles » Blog Archive » Dollars

The Boomer Chronicles » Blog Archive » Dollars — Mon, 04 Dec 2006 19:25:56 +0000

[...] This poor slob used the Fidelity Retirement Calculator to find out that they needed to save $6 million. [...]