How best to model a future move to a Continue Care Retirement Community to make sure that such a move is financially feasible? I.e. to compute current spending level assuming such a move is desirable in the future.
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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.
In short How do I model term life insurance expiration?
The program offers a way to import an asset file ("File"/"Import Asset Data ...") but the way to create this file is not documented in the Help Manual and not mentioned in the Forum.
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?
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.
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?
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.
I have updated to 2.29 and it is affecting my 529 Plan. This update does not into consideration previous money into 529 Plan. This has a significant effect on discretionary spending, recommended amount for savings, recommended amount for life insurance, and living standard per adult.
With release 2.29 we seem to have lost the ability to start retirement account withdrawals before the age of 59. I requested this functionality last year and it was added. Now the program only starts withdrawals at 59, regardless of what is entered on the "Key Ages" tab.
My birthday is in the second half of the year, but Esplanner wants to start taking IRA withdrawals the year I'm 70 vs. the year I'm 70-1/2. Is there some setting I can change to get out to start the correct year?
When making the entry for the monthly payment, is the figure to be supplied there principal and interest only? I am thinking it is since taxes and insurance are accounted for elsewhere.
In both ESPlanner and MaximizeMySocialSecurity, the program asks the user to enter "future earnings" following prior entry of "past covered earnings". Given my spouse' s relatively high earnings, any number entered for "future earnings" is way higher than what her covered earnings will be.
I just read in an article that the maximum monthly benefit for social security in 2015 at retirement age 66 is $2663. I will be 66 in 5 years and am planning to start my benefit then.
In my ESPlanner report, it shows SS benefits starting in 2021. Is the amount shown in current day $ or has it been inflated by 6 years (2021 - 2015)? I'm trying to reconcile the amount show to what I'm seeing from the SSA estimator website.
The Monte Carlo Asset Class list contains a number of "dimensional" assets (e.g., Dimensional US Small Cap, Dimensional US Vector Equity Index, etc.). What is meant by "dimensional"? Thanks.
First of all, I'm running the current software version. When I go to the "Earnings" folder, it still asks me to enter the amounts in 2013 dollars... like it thinks we are still in 2013. I've run the rollover process, but it doesn't change anything.
What am I doing wrong?
I just purchased a laptop and wanted to have access to ESP which I normally do on the desktop. I have installed ESP on the laptop and copied the database from the desktop and put it in the ESP data folder on the laptop, but when I open ESP on the laptop it is not opening the file.
I currently have about $57K in mortgage. In about 4 years, I plan to take a reverse mortgage, using the proceeds to pay off the mortgage and then spending the remainder as needed. How should this be entered?
I have a retirement pension plan with my company. Once I start my pension is does not have any COLA increase. But, because my company contributed to my Social Security, my pension does have a onetime adjustment, as soon as I reach the age of 62 (even if I delay social security).
I'm entering Special Receipts from oil & gas royalty payments for 2014-2018. Since these royalty payments are taxable, albeit subject to complex depletion allowances, I've selected Ordinary Income.
I had included my kids as dependents until age 25 but just read the IRS regs which sets the limit for claiming them as exemptions at age 24. I'd like to include them in the economy as 0.6 of an adult until age 25, but exclude them for tax exemption purposes as of age 23.
Any suggestions about how to model a NUA (net unrealized stock distribution). I would like to know the impact of using post-tax dollars in my thrift fund to enable me to remove stock by exchanging the cost basis with post-tax contributions without a taxable event during the fund liquidation.