Hi - As a long-time ESPlanner user, I'm trying to decide when to switch over to MaxiFi, and like the sound of several of its new features. However the fact it does not yet support Monte Carlo has me concerned.
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I am new to ESP. One of the things I am trying to look at is the tax implications of being a residence of a lower state income tax state. How do I go about changing state of residence? I do not see state listed except on initial setup.
I switched last year to MaxiFi Planner and, since the Forum for questions was not available on the web site, you had said to follow topics on the ESPlanner site (which I obviously do). Is there a plan to eventually create a Question Forum feature on the MaxiFi site?
- Eligible for Social Security (SS) based on my work record
- Eligible for Canada Pension Plan (CPP) based on my work record
- Eligible for a Canadian defined benefit (DB) pension based on my work record
After reading through the release notes in 2.36 and 2.37 and looking at my Monte Carlo reports after recently installing 2.37.2 I have the following questions I hope you can answer:
No update since Feb and this issue seems unanswered.Last advice was use the old monte carlo formula" It feels like the focus is on Maxifi which is fine but I'm wondering why I spent money to renew this in February if it was being dropped.
ESPlanner is telling me I'll pay virtually no federal taxes for the next 27 years. I'm also fortunate to be the projected recipient of annual NC state tax refunds amounting to $500 - $900 per year. I'm retired and will claim SS in another two years.
I have several relatives that could really benefit from using Maxifi but can not convince them to try it because they don't want to spend $95 to try it. Have you thought about offering a trial period or a money back guarantee?
In my family database I have developed several profiles over the 11 years I have used ESPlanner.
I cannot find a definition of "dimensional" stocks to guide the categorization of my portfolio for Monte Carlo evaluation
I just downloaded and installed the update 2.28.0 and was disappointed to see that I still can't seem to change the gender and marriage status on my profile. When I originally set up the profile I selected 2 males and then couldn't select married.
Hi, could you please explain how the maximum indebtedness value works or point me to an already answered question. Is this just a way to point out the shortfall in earnings that has to be made up or is it the loan you must take out and this begs the question of how the loan will be paid
My report seems to have a major inconsistency. In the "Inputs and Assumptions" section, "Net Worth" and the other subsections like "Retirement Accounts" accurately reflect what I entered.
While in retirement the Total Income tab shows concurrent withdrawals from my IRAs as well as my taxable brokerage accounts. I was expecting to see withdrawal order: Taxable first, then withdrawals from tax advantaged.
I have a friend who has her retirement plan in ESPlannerPLUS already, but going forward she doesn't have time to update it each year and would like to pay a certified financial planner to do the updates.
Regardless of planning method used to run reports, the Spending table consistently shows discretionary spending in the years before electing for Social Security (post retirement age) to be lower by an amount roughly equal to the net Social Security amount.
I just purchased ESP and my wife and I are not clear on how the spend down is done.
I am interested in understanding how the MC function uses data and does its calculations.
Hi, I have been reading a book that advocates an methodology that appears to be what I would call "rolling window" upside investing. My question is how to model this methodology with the existing software.
If I sell stocks for a gain this year I would enter the amount received as a special receipt taxable at capital gains rate if held over 1 year.
When can we expect the next version of ESPLanner to be released
We are retired and most of our cash flow is out of our IRA accounts and Social Security. I understand that my quarterly estimated tax payments are not part of our "consumption" or "special" funds and is assumed to be a deduction from income.
Is this the best way to track HSA contributions and account balances... (1) enter annual HSA contributions as special expenditures excludible from AGI. I thought about entering them as Roth contributions, but then the taxes wouldn't be calculated correctly.
I am modeling costs for joining a "continuing care retirement community" (CCRC). The contract we are looking at covers all housing, some meals, and medical care for life (from Independent Living through and including Assisted Living, Nursing Home andMemory Unit care), but at a price, of course.