Can ESPlanner help if I am already retired?

Yes, ESPlanner can help retirees make all kinds of decisions. ESPlanner shows you your highest sustainable living standard. Thus, you can compare the living standard or see the consequences of many decisions such as:

  • Get suggestions concerning how much you can spend each year, on a discretionary basis, while maintaining your living standard per household member notwithstanding changes over time in income, taxes, Medicare Part B premiums, and "off-the-top" housing and other expenses.
  • Determining how helping with a child or grandchild's education or other needs will impact your living standard.
  • Determining how much downsizing your home will affect your living standard.
  • Deciding whether long-term care insurance makes sense by comparing your living standard if you purchase this insurance with your living standard if you self insure, but experience a major long-term care expenditure.
  • Determining the living-standard advantage of postponing Social Security
  • Decide if you still need life insurance.
  • Determine if paying off your mortgage makes sense in terms of raising your projected living standard.
  • Understand how different investment and spending strategies will affect the level and variability of your living standard.
  • Explore how different ages of initiating retirement account withdrawals affect your living standard
  • See if changing the order of withdrawal (ROTH vs Reg IRA) can boost your living standard.
  • Determine the impact of moving to a different state.
  • See if a reverse mortgage can raise your living standard.
  • Determine the living-standard impact of selling a business or real estate holding.
  • Determine if annuitizing all or part of your 401(k) will improve your living standard.

Comments

What is a reasonable inflation rate for Medicare premiums?