Controlling Discretionary Spend, IRA Distributions to spouse, Suggestions
I am a new user and trying to initially build a simple economics based model. I have a few areas that I've been trying to resolve and hope you can help:
1. is there a way to control discretionary spend so that unused funds will be driven to end of the plan and essentially be a potential benefit for my heirs? I have entered planned annual spend by category in the "Special Expenditure" area, therefore have accounted for all projected spending over time. I have tried other solutions found in the forum without success. This includes adjusting SOL and smoothing withdrawals.
2. What is the best way to manage my IRA distributions so they are equally distributed to my wife upon my end of plan? We have a 5 year age difference and I am planning EOP for myself/her at 94/96 respectively. Based on the Total Income report, distributions end when I pass. I have selected the married option.
3. I've notice my that my annual mortgage spend is different from what I entered in the primary housing mortgage field. year 1 its 10% higher, year 2 is 6% lower and works its way to 26% lower over 10 years. The other home support costs are equal to my inputs. Can you help me understand the variance?
4. Life Insurance Suggestion - Based on teh forum responses, it appears the best way to drive automatic life insurance to zero is by adjusting Estate Planning percentages. It would be great if this calculation could be disabled based on end user desire.
5. Report Suggestion - I think it would be great to have a high level cash flow report as there are a number of reports which would support generating this overall summary report. I'm not a financial planner so possibly the reports generated are industry standard. I have found very useful simple high level cash flow reports provided within large financial institution 401K/IRA modules.
Possibly I should have sent separate questions by subject.
Thanks in advance