I am doing some simple Roth modeling (using Monte Carlo) and getting unexpected results...wondering if I'm missing something in how I'm using the software.
Ask a Question
Use this Question Forum to ask questions about how the software works, how to model different "what if" cases, or other user-related question. If you have a support issue (something seems to be wrong with the software) then please create a support ticket. How to browse this forum: SCROLL and click titles to read complete question/answer, use the FILTERS below, pick from TOPICS on the list at right, use the SEARCH BOX (see also "advanced search" when you use it), choose from RECENT COMMENTS at the right below.
Registered users may create a question here.
Suddenly, all my profiles except 1 will not run. After starting Create a Report the following window opens "espbasic.exe has stopped working..." the program then quits and adobe acrobat opens but the report shows "results Missing"
Should I reinstall 2.34.1?
Is there a simple way to indicate a change in state of residency without there being a sale of primary home? Client owns primary home in MA and second home in TN. In 2016, client will move to TN permanently, but keep both houses.
I'm just starting with ESP+ ver 2.35.2. The Support screen suggests...
I've specified conservative spending in my Monte Carlo setup. Everything looks fine in the non-MC report. Everything seemingly looks great in the MC report - all graphs go from something fairly horizontal at the Specified Mean Real Return to sloping dramatically upward for the 95th percentile.
Am I misunderstanding the calculations resulting from the value (Assets & Saving / Current Saving) "Less amount of asset income not reinvested" or is this a bug? When I enter a value ranging from 0 to 999 "Equals current saving" calculation seems correct; e.g., 16777 - 999 = 15778.
new user of ESPlanner. Report shows my max age as 93 and spouse maximum age as 100. We are both 64 and want to model maximum age 93. How do I change spouse max age?
I am 65 and my wife is 63. We have no life insurance now. The Annual Suggestions portion of our report indicates a recommendation of Life Insurance for me in annual amounts beginning in 2018 for $56K, rising each year to 2023 at $153K and then declining till my presumed death in 2041 to $10K.
Will ESPlanner use Head of Household tax rates where appropriate? It doesn't seem possible to be make it explicit anywhere but I was wondering if it might assume that in any cases?
My wife and I live in Maryland and when I run the planner your tax calculations in MD seem to come up short. I am wondering if you are accounting for the local county taxes which can add up to 3% plus to the calculation.
Is there an "easy" way to edit a special expenditure? For example, I wish to change the dollar value of an expenditure to evaluate the impact.
I need to check my understanding of some of the program inputs and their interactions. I've made some assertions (below) for which I would certainly appreciate any comments or corrections.
Using Economics-based planning:
My reports were looking odd, especially the amount of social security tax paid each year, until I realized that I'd changed my salary in the Earnings tab, but it hadn't been updated in the Social Security / Future Covered Earnings tab.
When I run ESPlanner it suggests this year I should save tens of thousands less (the recommended amount is negative savings), increase discretionary spending by tens of thousands, and reduce life insurance to zero for myself and my spouse.
I don't understand what this Monte Carlo report is trying to tell me. It has columns that go all the way to 200%. Not sure how there can be a 200% probability of anything.
What does the Living Standard values in the monte carlo analysis represent, compared to the baseline reports? Specifically, two questions:
1) do they represent all spending or just discretionary spending?
2) do they represent 'per adult' or 'total household' living standard?
The program is projecting FICA tax for my wife who has no income. Also it is showing FICA tax in the year we sell our house, and have no income from employment.
I am now 60, my wife is 59. We do not plan to take social security until we are each 70. Next to my retirement file date (2/1/27) ESPlanner shows a negative number (-29) and next to hers (-32).
I want to see the long term impact of decisions I am making. Is there a way to fool ESP into thinking it is 1/1/2018? I can estimate end of year account values based on what I know now and the decisions I am making
Approximately 6% of my investments are in gold bullion self directed IRA. How should I account for this in Esplanner? Is there an established return rate for gold? Thanks!
I am confused as to why ESPlanner shows negative savings under the Annual Suggestions. I don't need it for the income, there is enough of that.
Is there any easy way to model making a very occasional, but significant (up to 10% of balance), extra payment of principal on a mortgage?
Does the program periodically rebalance regular and retirement assets when performing a Monte Carlo simulation, or are portfolio allocations "initial conditions" only? If rebalancing isn't performed is it thought to be a bad idea or a feature to possibly be added to a future version? TIA
My pension is partially tied to the stock market. Without using Monte Carlo, is there a way I can model losses for a few years? Besides, there is not way to link a pension to stocks so Monte Carlo wonld not work.