Hello, I am a 3-week user trying to confirm ESP aligns to some degree with my simple spreadsheet planning.

The taxes ESP projects appear far too low. ESP's Housing Tab on the Excel report properly shows housing expenditures, but, if added to discretionary spending, my federal and state taxes on the adjacent tab should be much higher that they are.

Roughly, with zero income and annual consumption of $56k, plus annual housing expenditures of $24K, I'll need to pull $80K from my my retirement account. With current taxes law for a married couple, that is $56K of taxable income. That should yield federal and CO taxes of $6,339 and $2604. Instead, my Tax Tab shows just $3,591 and $587. In addition, ESP only shows me pulling out enough money to cover the $56K annual consumption, none to pay the mortgage. Even taxes on just that $56K gross would be higher than reported on the tax tab (4.65% on 32K net taxable in CO = $1488).

What can be so wrong? What can I try to make sense of this?

v/r

Paul