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Tags: 2021 update

When will the 2021 update for ESPlanner be released? Yes, this year I'll get over to MaxiFi! Thanks. - Mark

I'm working through the Excel sheets to better understand how each cell is calculated. I can track most of them back towards what I input or can rationally impute. I believe that Total Income must equal Total Spending.

I want to understand the effect of spending less than the esplanner 'smoothed consumption' amount. For example, say my smoothed consumption number is 100,000, but I only have expenses of 70,000 - what is the impact? What is the best way to see this?

When 401k withdrawals start for me, I see that Federal Income taxes in ESPlanner goes up which I would expect. However, the state income taxes are zero. Why would that be the case? I live in Illinois and I would expect to pay state income taxes on the 401k withdrawals.

Tags: state taxes

I am modeling moving into a Continuing Care community. 30% of the entry fee and 30% of the monthly fee is tax deductible as a medical expense the first year. As expected, This profile shows zero Fed tax due the first year but several thousand $ of Califoria Tax.

Tags: newrelease

I'm wondering if there should be updates for 2020 tax rates, medicare, social security, etc. Seems the current version (2.38.6) is close but not exact, but maybe that's good enough?

In the first week of a new year I withdraw the cash I need for that year from my retirement assets by selling off positions thereby reducing the total value of my Retirement Assets accordingly. The cash received from those transactions I then account for as cash in my Regular Assets.

Tags: Real Estate

The program reports $87,751 in real estate receipts. The receipts for the 5 individual properties in the real estate folder add up to $71,075. I uploaded the most recent update today and the error carried over.

I would like to use ESPlanner to see whether making large Roth conversions that would put us in a higher tax bracket would result in an overall higher Standard of Living. My wife and I are both 63, and have been retired for 4 years.

Tags: saving

The question of when to take Social Security still bothers me, despite hearing the arguments and seeing the impact in ESPlanner. I'm curious to see what ESPlanner would say if I took Social Security now and invested the monthly payments, versus waiting and potentially getting less, or nothing.

This question was address in 2014 in "Social Security Inflation Rate unrealistic" but what to do about the issue was not addressed.

Hello, I am a 3-week user trying to confirm ESP aligns to some degree with my simple spreadsheet planning.

I own:
Rental property A (single family home) that has zero mortgage balance.
Rental property B (single family home) that has a current $80K mortgage balance.
Primary residence property C that has a current $150K mortgage balance.

Tags: buy-in

My mother is retired and is going to move to a retirement community. The retirement community has a buy-in fee ($267k).

I plan on installing a home solar system this year (2019) and capture the Federal Solar Income Tax Credit among other incentives. The tax credit may roll over to following years if one doesn't have enough income tax liability to offset it immediately. How should I enter this in ESP?

I am 68 and my wife is 60. I am running the program with the assumption that both of us have not collected or applied for Social Security as of yet and we both planning on claiming on our own SS accounts, I at 70 she at 62.

Why very often in the first year Savings goes into Discretionary expense ?

Thank you, Max

I know what an annuity is, but the word "annuitize" can mean different things. In Retirement Accounts/Smooth Withdrawals, ESPlanner asks the user to specify the percent of retirement assets to be annuitized.

Under Retirement Accounts/Smooth Withdrawals, ESPlanner asks the user to specify percent of assets to be annuitized. Does this refer to self-annuitization, or does this refer to annuities that I plan to buy? I don't plan to purchase any annuities at this point.


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