ESPlanner's suggested consumption isn't affected very much by delaying social security from age 66 to 70. I can see the monthly benefit increase by 21% by delaying SS for 4 years but the suggested consumption only goes up by 0.5%.
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I was born mid-1966 and my FRA is therefore 67 (year 2033). Under the Social Security “Benefit Receipt” tab I note the retirement benefit date and spousal benefit date as mid-2033.
I know this has come up over and over, but I must be doing something wrong.
Where do I enter data so the program calculates the Social Security benefit for my adult disabled child. My understanding is that he will be eligible for 50% of my normal Social Security benefit when I start collecting Social Security. I don't see where to enter this in ESPlanner.
My husband owns a 1-person s-corporation. How or where in ESPlanner, do we properly input the following:
1. Total s-corp gross income of $245,855 (reported on the 1120S tax return)
2. K-1 of $30,000 received from the s-corp (to report on the 1040 tax return)
The ESPlanner Database chooser doesn't seem to work after updating to v2.32.1
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.
For 2015, I've noticed that the AGI shown in the "Federal Taxes" report is several thousand dollars - about 4% higher - than the "total Income" shown in the "Total Income" report. Can you please explain why this should be occurring?
It is on my Win10 64-bit VM (Mac using VMWare Fusion 7.1.3, OSX El Capitan 10.11.1). Windows machine has Intel i7 2.6GHz, 4 GB Ram. Takes several minutes to generate Excel (Office 2013) file, whereas it would take less than a minute in previous version.
Hi -- I just purchased ESPlanner yesterday, so today is my first day working it.
Can the retirement accounts detail report be revised so that the individual, employer, and Roth account balances are shown separately? When tweaking special withdrawals, I can't tell how much remains in a specific account type.
If I am using a fee-only financial planning service, there is often a fixed percentage of assets under management fee charged by the financial planner. In ESPlanner I cannot find a way to account for such a fee, that changes each year since the value of my assets change each year. Thanks.
I'm contemplating leaving full-time employment and taking a contractor job. That would be paid as 1099 wages. I see that ESP+ has a tab for self-employment income which is where I assume I'd record those earnings.
With the end of spousal benefits, I am trying to figure out some options before ESPlanner is ready with an update. In the course of this, I'm realizing how little my work history will matter.
We were going to use this strategy since we have an adult daughter with a severe disability. So...since this strategy won't be available to us(neither my husband nor I is 62 this year), I'm wondering why wait until 70 to retire?
I am 64 and plan on retiring next year around my 65th birthday. My FRA for Social security is 66. My wife is 5 years younger than me. She has a much smaller SSA benefit amount based on her own record, so we will use her spousal benefit.
Frequently we are looking to do what-if analysis and a primary activity is moving different planned "Special Expenses" to different years to examine the effect of this. Currently in the Special Expenses panel you can edit the text/description, but not the year.
Just want to make sure I have this all straight --
Income is the total income from all sources (wages, investments, SS, Real Estate)