TRowePrice's Future Path planning tool

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drawpoker
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TRowePrice's Future Path planning tool

Post by drawpoker » Sat Aug 18, 2018 7:09 pm

Anybody use "Future Path" and know how to go in and change/delete assets after you have set up both Main Path and Alternates? There doesn't seem to be any Help button or tutorial to tell you how to do this. :?
Am wondering if - since the user is apparently able to create unlimited Alternate paths (tweaking amount of income desired, changing the no. of years for $ to last, etc) maybe I am supposed to create another Path, delete the original, and designate the new one as "Main Path"

It has been like 3 or 4 years since I set it up so alot has changed. Want it to be totally accurate so the Monte Carlo simulations will actually sync.

Seems like it should be easy to make changes. But I can't figure it out :annoyed
Last edited by drawpoker on Tue Aug 28, 2018 9:27 pm, edited 1 time in total.

Church Lady
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Re: Fidelity's Future Path planning tool

Post by Church Lady » Tue Aug 28, 2018 7:23 pm

He that loveth silver shall not be satisfied with silver; nor he that loveth abundance with increase: this is also vanity. Ecclesiastes 1:8

drawpoker
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Re: Fidelity's Future Path planning tool

Post by drawpoker » Tue Aug 28, 2018 7:54 pm

Yes, that's it.

Do you know how to change/amend specific information within each Path? Without having to start all over and enter all new info for all fields?

Church Lady
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Re: Fidelity's Future Path planning tool

Post by Church Lady » Tue Aug 28, 2018 9:09 pm

Tip: update your post title from 'Fidelity's Future Path' to 'T Rowe Price FuturePath' to get more responses.

When I visit the tool, it first presents this message, which I presume you saw:
To update your manually entered retirement savings balances, visit the My Assets page, which can be accessed from the menu at the top of the next page.
At the top, there's a tab called My Assets. I clicked that and it displayed all the values I entered a couple years ago. I scrolled to an account I wanted to update, and clicked the pencil icon in the last column (Edit/View Details). Entering a new balance is pretty straightforward, but the asset allocation for the first account I tried was frustrating because you have to move sliders back and forth. My two sliders were adjacent, so I didn't realize there were two. And it is fussy getting each slider at the right number. Then I clicked 'save' and went through all the accounts I wanted to update.

Then I clicked on the My Paths tab. In my Main Path, I saw a Future Income event that needed updating, so I clicked on the text. I typed in a new value and clicked Save and Update.

Then I looked at Future Expenses. I saw my mortgage payoff balance needed updating, so I clicked that.

At some point, on the right hand side bar, an Update My Path icon appeared. So I clicked it to get my new 'Confidence Number'.

At the top, I clicked on another of my paths. Under Future Income, I saw it was necessary to again update the same income event. In other words, the update I made in 'Main path' did not carry over to my second path. So I updated it as before. So if for example you update your SS income in Main Path, you'll have to do that for each of your remaining paths. And if you want to update your mortgage payment, you'll have to do that for all paths that include a mortgage payment.

I hope this helps. Easier than deleting your paths and starting over. Post again if you need more help.
Last edited by Church Lady on Tue Aug 28, 2018 9:38 pm, edited 1 time in total.
He that loveth silver shall not be satisfied with silver; nor he that loveth abundance with increase: this is also vanity. Ecclesiastes 1:8

drawpoker
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Re: TRowePrice Future Path planning tool

Post by drawpoker » Tue Aug 28, 2018 9:27 pm

Wow. Guess I am getting senile after all, it was TRowe all along, not Fidelity. :oops: Guess this belongs in the thread about the dangers of engaging in too much custodian diversification :P

Thank you, will follow your directions when I go back in and try to get my stuff-ing straight.
btw, since you seem to be an expert on F.P, do you know if you need to go back and update the amount of yearly income desired? Or does the program automatically update for inflation?

Church Lady
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Re: TRowePrice's Future Path planning tool

Post by Church Lady » Tue Aug 28, 2018 10:11 pm

I would not say I was an expert; it's more like the blind leading the blind :oops: . But I think you should enter your desired income in today's dollars.

Be aware FuturePath does not take taxes into account. As you near retirement, tax issues will loom large and cannot realistically be ignored. Bogleheads introduced me to this awesome calculator that does account for taxes: www.i-orp.com If you are anywhere near retirement, you should try it out. Just saying!

The link I gave you will land you on 'basic i-orp'. I use the 'Extended ORP' calculator under the Extended ORP tab. To be honest, it's a lot of work to set up. I go to the trouble because I have to deal with the tax issues. This is the only (free) calculator I know of that accounts for taxes.

All that said, no one calculator (that I am aware of) does it all. FuturePath lets you save paths and switch easily among them -- not i-orp's forte. It also has some nice asset allocation modeling. I diversify among (free) calculators as well as among custodians.
He that loveth silver shall not be satisfied with silver; nor he that loveth abundance with increase: this is also vanity. Ecclesiastes 1:8

drawpoker
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Re: TRowePrice's Future Path planning tool

Post by drawpoker » Tue Aug 28, 2018 10:43 pm

Well, I am in retirement (age 69) so I followed the directions to just enter zero for annual income. Have SS set as "future income" at age 70.
But, something is screwed up. As following your good directions and entering the new balances on retirement accounts my score went from 100 to 99 ! It told me the last time I updated asset info was 5/6/15, so there was a considerable amount of :moneybag increase. (Ex: I had $96,000 listed for VG Indx500 shares 39 months ago, new balance is $141,000. 2 others had big jumps also.
The 3 T.RowePrice funds I own updated automatically by themselves showing today's market close prices. That seems to be the only thing on this program that seems to be working, er, good :?
I manually changed my desired annual income, upping it to account for inflation. But, I did that part after my score had already dipped. So I don't think that change had any net effect.

The page that shows my AA is all wrong. It apparently did not update. It is showing all wrong percentages, and I am not finding the way to fix that :?: (Used the refresh button on browser too )

F.P is showing this: Stocks 49%, Bonds 27%, Cash (MoneyMarkets) 24%

The actual numbers should be Stocks 64.9% Bonds 33.1% Cash 2%

Aren't the sliders you refer to the way the graph can be manipulated to reflect year by year change? Am not getting what you describe as how to use the sliders to show correct current asset allocations. :confused

Help!

Church Lady
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Re: TRowePrice's Future Path planning tool

Post by Church Lady » Tue Aug 28, 2018 11:31 pm

When you edit each manual account, the sliders will appear. Edit each account and set the sliders to the right values for that account. The graph should show the aggregate percentages.
He that loveth silver shall not be satisfied with silver; nor he that loveth abundance with increase: this is also vanity. Ecclesiastes 1:8

drawpoker
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Re: TRowePrice's Future Path planning tool

Post by drawpoker » Wed Aug 29, 2018 12:14 am

Church Lady wrote:
Tue Aug 28, 2018 11:31 pm
When you edit each manual account, the sliders will appear.......
Ah, I see, said the blind man. :oops:
What had me all mucked up - the accounts that appear at the top of the listing when you open that page are the, guess what,
T.RowePrice accounts. So, that blue/orangey/slimey greenish/ color slider bars don't appear, since Price has already calculated the percentages for all their funds.
Did not realize (until you, bless you, church lady :) came along and said so ) that on the "outside accounts" to look for that sliding thingy.
Guess what, though. It is not quite right in the head. For ex, it let me change (the slide cooperated) both a Series EE bond and a GinnieMae fund to "100% bonds, 0 stock, 0 money market".
But, for some inexplicable reason, the bars would not budge to change Fidelity OTC, VG Indx500, and VG Ext. market index to 100% stock. Or, to be technical, 97% stock and 2 or 3% or so short-term.

In fact, unless I wasn't yanking hard enough on the bars (like you said, you have to push and pull both ways :!: ) it will not let me change VG Indx500 from their version - 70% stock, 30% short-term. I know that ain't right!
So, my updated page for AA is still off :annoyed Now, it shows

Stocks 54% Bonds 33% Money Market 14%

My score went back up to 100%. But, I wish the thing would get it right on the A.A. figures. :annoyed

Church Lady
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Re: TRowePrice's Future Path planning tool

Post by Church Lady » Wed Aug 29, 2018 8:58 pm

Yes, the sliders are stubborn. Try editing again (when they are not suspecting). I'm glad you're making progress.
He that loveth silver shall not be satisfied with silver; nor he that loveth abundance with increase: this is also vanity. Ecclesiastes 1:8

drawpoker
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Re: TRowePrice's Future Path planning tool

Post by drawpoker » Thu Aug 30, 2018 2:12 am

Church Lady wrote:
Wed Aug 29, 2018 8:58 pm
Yes, the sliders are stubborn. Try editing again (when they are not suspecting). I'm glad you're making progress.
LOL, you were right! Went back and used a softer touch - got 100% cooperation from the slippery sliders. All funds are correct now as far as asset class, percentages. Church lady, thank you, You Are The Best :D :D

Guess nothing can ever be all right all the time, tho. My AA page now shows Stocks 65%, Bonds 33%, and MoneyMarket 3%
Hmmmm, where did that extra 1% go?

Reminds me of that old riddle, you know. Stop me if you heard it. :P

3 people come off the interstate, tired from driving , check into motel for the nite. Desk clerk says that will be $30 for the room, they pay up, obtain key, go to room. Clerk later realizes he made a mistake, charge for that room should be $25 instead, not $30.
Clerk summons bellhop, gives him $5 in dollar bills, instructs him to take money to the party in Room XX, explain the error with apology. Bellhop does so, but steals $2 of the money for himself on the way to room. Upon arriving, he gives the 3 occupants $1 each, claiming the overcharging error was $3.

So, what happened here? We know it Started out with $30. Each man paying $10 for his share. Then, each receiving a $1 refund, making each man's share actually $9 apiece. 3 x $9 - $27 total. We know the bellhop stole $2, so we can account for $2 there. But, $27 + $2 = $29 Not $30 :confused

Where' s the missing dollar? Ha, ha

Should I send this Joke on to T.RowePrice and their FuturePath IT people...think they have a sense of humor? ... :P :

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jhfenton
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Re: TRowePrice's Future Path planning tool

Post by jhfenton » Thu Aug 30, 2018 6:53 am

drawpoker wrote:
Thu Aug 30, 2018 2:12 am
So, what happened here? We know it Started out with $30. Each man paying $10 for his share. Then, each receiving a $1 refund, making each man's share actually $9 apiece. 3 x $9 - $27 total. We know the bellhop stole $2, so we can account for $2 there. But, $27 + $2 = $29 Not $30 :confused

Where' s the missing dollar? Ha, ha
I've never understood why this is a puzzle. :?: Of the original $30, $25 is in the cash register, $2 is in the dishonest bellhop's pocket, and $3 is back in the guests' wallets. You subtract $2 from $27 to get the $25 they should have paid. Adding the $2 to the $27 doesn't represent anything. The $2 is part of the $27.

Or maybe I just don't have a sense of humor. :sharebeer

drawpoker
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Re: TRowePrice's Future Path planning tool

Post by drawpoker » Thu Aug 30, 2018 12:08 pm

Of course, right you are. But you might be surprised how many adults do get tripped up on this one. After all these years.
(Kinda like asking "Which weighs more, a pound of lead or a pound of feathers.... That trips many, too.

Okay, now that you 'Splained that one, can you tell me why FuturePath can't seem to add numbers correctly? :shock:
Makes me think of coaches and & other jocks who laud players after big game for giving 110 % effort! :P

Church Lady
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Re: TRowePrice's Future Path planning tool

Post by Church Lady » Sat Sep 01, 2018 12:56 pm

I've never understood why this is a puz ... f the $27.

You explained this a lot better than my grade school teachers did! :happy
He that loveth silver shall not be satisfied with silver; nor he that loveth abundance with increase: this is also vanity. Ecclesiastes 1:8

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