How should we enter savings in a Health Savings Account (HSA)? I doubt it would be treated completely appropriately under "Supplemental Retirement Accounts" especially when it's more of a family account than an individual account.
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I am using ESPlanner using parallels which is fine, but am having problems creating the excel files. I do not have Excel running on windows, but was hoping to create the excel files and then use my Mac version of excel to open them. Any hints?
For a 401-K, is there a way to differentiate (via data input) (1) the portion of a 401-K balance that is attributable to pre-tax contributions, employer matches and earnings on the account, from (2) the portion of the balance attributable to after-tax contributions?
If you have a Roth 401k and a regular Roth IRA, do you just sum them and put the total in the Roth IRA field? (Assuming that's correct, I suggest re-labeling the field and report column to Roth IRA/401k.) Thanks!
How do I reflect an inherited IRA from my spouse to me? Seems the software reflects total withdrawal at her our anticipated end of life and hence large tax hit. As I understand it I can inherit her IRA and not take a major withdrawal.
I saw and was able to understand the previous tip from 2014 on how to model non-deductible IRAs future contributions in the special expenditures and special receipts tab. My feeble mind is having trouble figuring out best way to model an existing non-deductible traditional IRA balance.
I have several special expenditures within the next 10 years that would not exist if I die before their schedule dates. When I activate Contingent planning I delete them from the special Expenditures database.
When I model Roth rollovers to leave to my kids, I do so by making special withdrawals from our retirement accounts then matching special expenditures (non-tax related). These matching special expenditures essentially remove the money from possible use in calculating our living standard.
It only asks for annual premium instead of the initial lump-sum payment. I would like to see the impact of buying a fixed income deferred annuity for us, but, the ESPlanner doesn't seem to be built to take that into account. Please help.
I put my annual bonus into a deferred compensation plan which defers all taxes until withdrawal, the withdrawal is in 10 annual installments beginning at retirement. How should I enter this?
What is the best way to input employer granted options that are granted annually and exercised on a regular schedule after vesting? They are non-qualified (vs. incentive) stock options if that matters.
In the Build Portfolios tab of the Monte Carlo input screen, is there a reference source, perhaps index and historical time period, for the Mean Return of each default Asset Class?
Page 10 of the PDF report lists all 10 portfolios, whether they are used or not. Why not only list the portfolios that are used and designate which is used for Regular Assets and which is used for Retirement Accounts?
Mike O'Connor recently commented that the software calculates SS benefit differently from SSA, and implied that a 1% difference is to be expected. In my case the software result is 3% higher than SSA. Is this difference within the margin of error for the software?
When I enter husband and wife CURRENTLY receiving SS, the report drops the wife's income to Zero after the first year. What am I doing to make this happen?
I recently bought ESPlanner & it seems like a very powerful tool. There are a few areas I'd like to optimize, but I'm not sure if ESPlanner provides that capability.
The "Ask A Question" page, at the bottom, shows 6 pages. But only page 1 has any content. Is that correct or are the other pages "missing"?
I can't get this to work or find instructions on how to do it. I want to examine the scenario of selling a property (not my home) in 2016, use the proceeds to payoff the mortgage concurrently, and use the remaining proceeds to pay down a mortgage on a second property.
Can someone elaborate on how the load on annuities works within the program? I don't and won't have any annuities as investments. I'm using it only as a tool to model smooth withdrawals before SS benefits kick in.
I have the following entered as special expenditures for 2015
50,000 9,600 4,800 = 64,400 -- the report from calculation comes up with a special expenditure of 84,647 for 2015. Other years appear to be correct.
New user - I am unable to get the retirement account screen tab "key ages" to save the ages I am inputting. It accepts age 69 for last contribution and age 70 for first withdrawal, but when I run a report it defaults it back to ages 64 and 65.
I have two kids in college. One of them being a senior, I have experience getting educational tax credits. I'm considering adding those tax credits as non-taxable income in the years I anticipate getting them.
ESPlanner is calculating a slightly different 2015 SS benefit amount than what we're receiving. The error is small,less than 1% too high. Could this be a rounding error? How does the program use the monthly SS benefit amount entered in the Social Security window?