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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.

All the reports show that at my death at 89 my 401k funds have been depleted and the withdrawals end. The problem is, I inputed that my wife would live to be 95 and we would like the smooth withdrawals to extend to her expected year of demise.

Tags: 2021 update

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

I am creating an updated profile from an existing one, but I recently sold one of my rental properties.

It would be nice if ESPlanner allowed an input for non-spousal inherited IRA's. Is this something that might be considered in the future? It seems like it would be easy enough to do - just add the decendents date of death and then the account balance.

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?

I suspect you have addressed this question more than once but I have failed to find the answer.

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: 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?

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.

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: taxes

Its been awhile since I've written. In the runs of my reports taxes are much higher than I actually pay. For NC state taxes, it probably has to do with the tax rate which has changed to a flat 5.75%. The state tax rate I'm calculating is over 6% in your program.

I wrote up this summary about ESPlanner going forward and thought I'd share it here for those interested.


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.

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 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: Stock Sale

I sold stock this year, 2019, for a long term capital gains. How should I enter this into special receipts? What changes should I make to the Individual Stock values I entered in Assets and savings as of 31Dec18?

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.

Unable to open ESPlanner - INSTALL on my macbook air.


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