I currently am fortunate enough to not require the full smooth withdrawal that ESP recommends. The smooth withdrawal model, however, generates a larger tax liability than I currently incur in reality.
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If I update asset values midyear does the program consider it a first of year value for further calculations or is it prorated?
I have a defined benefit pension in the form of a cash balance plan. At termination, a lump sum is available to me that I can take as an annuity, or roll it over into a tax-deferred account. (I can take it as a lump sum and not roll it over if I wanted to take a bath on taxes.)
My accountant informed me that the file and suspend game has been ended by congress, effective April 2016. It seems I bought a calculator from Esplanner to help me figure out the best way to maximize SS payouts. I wonder if there is an updated version.
How can non-income-producing vacant land, which is held for investment, be handled in ESPlanner? If I include it as 'Real Estate', I get an incorrect capital gain upon sale since the land is not depreciable and there are no improvements.
It appears that ESP's Social Security capabilities do not model the case of someone who becomes a disability annuitant prior to retirement age.
My understanding is that ESP calculates and adds life insurance when needed. I have seen discussions herein where it is stated that the premiums are added as expenses. Are the benefits also calculated in case of survivor reports?
On the Regular Assets report (mine attached), what/where are negative Regular Assets created from? I presumed this column represents a running total value of regular assets. Debt?
What's the best way to show interest only personal loans such as margin loans?
Then if I project paydowns over, let's say a few years starting this year, are these payments shown as Special Expenses or loan payments as adjustments in Current Saving in Assets and Saving?
I don't find a simple definition of the spreadsheet report item "Retirement Account Annuity". Please explain the source of this data. Thanks!
Both my wife and I have an IRA where the contributions are on an after tax basis.
I ran Monte Carlo simulation and for the 2016 recommendations, it has Discretionary Spending (DS)at $115,251 and Current Amount of ($111,658), which also has to have an impact on Savings.
Just working through the Monte Carlo simulations and excited to be getting some data but first have a question about "Implement Portfolios" folder.
So i have 7 accounts. 6 tax sheltered (3 each for my wife and myself that are tax sheltered) and one open joint account.
I have been working to get the Monte Carlo section up and running for my situation and have a couple of questions regarding its implementation.
A little background:
My wife's retirement pension also includes re-reimbursement of Medicare part B premiums.
Am I correct in indicating the we will never enroll under the Social Security tab?
Perhaps this is a simple terminology question. I have assets (cash, stocks, and mutual funds set aside for my retirement in several taxable brokerage accounts. They assets are from Employee Stock Purchase plan and inheritance.
This is my 3rd run of ESPlanner since I retired June 1, 2013. Last year, and this year 2016, I have done a bit of consulting.
1) Am I correct to put that Income on the Earnings page under Self Employment Earnings after setting the retirement age to 1/1/2016?
What do I look at to tell the source of a given year's retirement withdrawal, or when it switches from a TIRA or 401K to a Roth, assuming default order of withdrawal? Obviously the program knows the balances of these accounts, but I can't find where they are exposed.
All of the modeling I've done until recently assumed a maximum age of 100. It would seem that living longer requires more assets at the outset of retirement than does dying at, say, 85.
In the years 2022-2025 of my Details Report (Monte Carlo planning method), my Total Income is less than Total Spending. Why would this be?