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).
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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.
When can we expect the next version of ESPLanner to be released
I am trying to see the difference between a pension with Inflation Index of 2% (1% less than modeled inflation) vs. and a pension with 0% Inflation Index. When I changed the index from 2% to 0% the pension didn't change. Did I miss something or is this a bug?
Just now seeing that there is a new software produce called MaxiFi. Will MaxiFi eventually replace ESPlanner? Or is it designed to compliment ESPlanner?
I live in NY state and I have one pension that will be paid by the federal government and will therefore not be taxable by NY state. I also have another pension that would be subject to NY state tax.
How can I add Bank CDs in a Monte Carlo Portfolio? I'm thinking of using the intermediate government bonds as a proxy. Most of my CDs are 5 year and I roll them over upon maturity. For a while each rollover resulted in a lower rate of return but that's now changing.
Every time I run the monte carlo simulation I get different results - I assume this is expected since the random numbers used to generate the results are different on each run. However I find the differences are significant enough that I cant rely on the results for future retirement planning.
I added several special expenditures for college, and since I know those are partially tax-deductable (depending on income limits), I thought ESplanner would figure out the fraction they were tax deductable; I think the deduction limit is $4,000 in one case and a $2,500 credit in another case.
What is the best way to include distributions from non-qualified deferred compensation plans in order to properly reflect taxes?
I want to create new asset classes for the Monte Carlo analysis such as mid cap stock. Where can I find (i.e. is in Morningstar or Dimensional) the historical mean return and relative risk by asset class?
ESPlanners tax calculation is off by a few hundred dollars and I am trying to reconcile it with my tax statement.
I received 1570.00 in taxable refunds the year before, I tried entering the 1570 into special receipts and marked its tax status as ordinary.
I cannot get ESPlanner so show spousal benefits for myself. I also use maximize mysocialsecurity which shows me as eliglible between the year of 66 when I file and suspend and 70.. I entered the following.
My file and suspend date is 1/2019 when I turn 66.
About half of my income right now comes in the form of stock that is vesting. This is resulting in high tax bills which must be paid in cash. To do so, I have to sell stock to cover the tax bill. What is the best way to enter this in the system?
There must be a reason but I don't see growth for SSA (hard to predict I know) or Special Receipts even though I did add a growth factor to Receipts.
How should I enter disability payments in ESPlanner. Just treat it as ordinary income? I believe the IRS taxes it to 85% of its value depending on other income sources.
It discretionary spending starting in 2018 and as a result puts my spending in 2017 at 5x what I entered for subsequent years? How cna I get rid of these suggested consumption amounts. If I had that kind of consumption as a suggestions then the excess should go into savings.
I would like to add in all assumptions, pensions, annuities, investments and get a report to show me income return per year to expect including RMD at 70 etc. .