2gifts the first answer you got, which spoke about the Fidelity Planner taking in taxes was posted while I was writing my response. I am not familiar with that tool, but I would dig into the tax situation carefully. While you may not have any income beyond what you told Fidelity, does the planner ask enough questions to know that? If not, be very suspicious of included taxes. I can see that such tools might have a percentage for taxes, but if so that is most likely taxes on investment income. Things like number of dependents, itemized deductions, whether you have "tax free" investments and even your legal residence get into taxes. Lastly in the area of taxes, despite what some vocal folks like to hear, the portion of GPD paid in federal taxes is the lowest it has been in the last 60 or 70 years. To say the least people expect more from the government today than they did 70 years ago. Many costly promises have been made. While some stuff will be cut, taxes are going to go up.Finally, you post convinces me you are approaching this whole issue wisely and carefully. A great many folks seem to say I am X years old, I am retired - now lets spend money. I am not saying folks start taking world trips they never did before, rather I am saying folks do not have a clue about the effects of inflation or whether they must take market risk with equities to maintain their current life styles. Hope you enjoy the future, sounds to me like you have a good chance from a financial view point.GordonAtlanta
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