Annual Suggested Consumption Is Absurdly High. What did I do wrong?
Hi -- I just purchased ESPlanner yesterday, so today is my first day working it. In my first run, I used the Conventional Planning method, specifying the discretionary retirement spend to start in 2017, on the assumption that I retire at the end of 2016 and my wife retires at the end of March 2017. As the attached screen shot indicates, I got a very odd result for the years 2015 and 2016, namely that we should aim to spend over $1.4million each year, before settling down to our target expenditure of 'a mere' $180K per year. In the pdf report on p.37, suggestions for 2015 are as follows:
Discretionary spending = $1,413,112
Saving = $1,151,216
Clearly I did something very wrong when entering our data in the program, but I can't figure out what. Where did I go wrong?