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Hello,
I have been a member of for over 5 yrs. I've been using your ESPlannerPlus software. I really like it. My wife and I are thinking that it would be good to try out your "Maximize My Living Standard" service.

I have a Cash Balance Plan defined benefit pension. It's defined contribution by the employer while employed, then the balance is available to me as a defined benefit at retirement. The cash balance can be used to purchase an annuity or taken as a lump sum and rolled over to an IRA.

Does a list exist for what is defined as non-discretionary spending? I am wanting to compare my real life discretionary spending against what ESPlanner calculates, but I need to be able to subtract out my non-discretionary spending first. Thank you

I have a Universal Life Insurance policy. I think this may have been called whole life in the past. Basically my payment provides for a fixed amount life insurance policy while the remainder becomes a savings account with a stated minimal interest rate.

I am adding a sunroom to my home this year. Is that a special withdrawal or a special expenditure or both? The special expenditure to detail the expense and the special withdrawal to pay for it?

I plan to retire in approx 3 years and want to model refinancing my mortgage at that time (after having made extra payments during those years). I don't see how to do that in ESP.

How do you model 1031 Exchanges on real estate? I have a property that I will be selling next year and purchasing a new property with and the program is currently estimating taxes on the sales price.

My employer pays the premiums for the first $200k on life insurance and then I pay approx $2k/year for an additional $150k of insurance.

I have found that if I set the borrowing constraint to $50,000, that ESPlanner is unable to provide a Lifetime Smooth Consumption Amount. Instead, it provides four very different Smooth Consumption Amounts for 4 distinct periods (e.g., 2016-2021, 2022-2025, and 2016-2027, 2028 and later).

I sold my primary home in 2015, and am living in my vacation home full time for the next 3-5 years.

I plan to buy a new Primary Home in 2021.

Here’s how I modeled this in ESPlanner:

I've entered my regular assets and they are showing up correctly on the "Inputs and Assumptions" page. However, on the net worth and Regular Assets reports (under "Suggestions") they are shown as being 28% lower.

The ESPlanner manual says on page 5 that you can customize the software by using the HELP drop down menu, choosing Customize, and entering global program settings. When I go to Help, there is no option to choose Customize.

ESPanner's "Guide" for the "Estate" tab says the following:

I understand that the recommended life insurance is to allow the survivor to maintain the same living standard if a spouse dies before the end-of-life date set in the program.

Can't seem to find explanation in manual or searching on-line. Can you explain please?

We have been using ESPlanner for years trusting that it was accounting for the WEP calculation in our benefits. Our state pensions from non-covered employment are entered as "not covered" and our past covered earnings are accurate.

Tags: gifttax

I have entered gift to children as a single payment at some date. What does "not tax related imply"?

Now that I'm looking closer, I notice that the Social Security dollar amount declines over time. It appears to be doing it at compounded rate of -3.03%. Inflation is set at 3.1% in my ESP. I'm assuming this is because ESP expresses future amounts in real dollars.

Tags: asset values

If I update asset values midyear does the program consider it a first of year value for further calculations or is it prorated?

I currently am fortunate enough to not require the full smooth withdrawal that ESP recommends. The smooth withdrawal model, however, generates a larger tax liability than I currently incur in reality.

On the Regular Assets report (mine attached), what/where are negative Regular Assets created from? I presumed this column represents a running total value of regular assets. Debt?

Tags: rollover IRA

I have a defined benefit pension in the form of a cash balance plan. At termination, a lump sum is available to me that I can take as an annuity, or roll it over into a tax-deferred account. (I can take it as a lump sum and not roll it over if I wanted to take a bath on taxes.)

My understanding is that ESP calculates and adds life insurance when needed. I have seen discussions herein where it is stated that the premiums are added as expenses. Are the benefits also calculated in case of survivor reports?

My accountant informed me that the file and suspend game has been ended by congress, effective April 2016. It seems I bought a calculator from Esplanner to help me figure out the best way to maximize SS payouts. I wonder if there is an updated version.

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