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?
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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.
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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?
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For the benefit of others, I'll share an approach I just devised that seems to work well for me. Instead of assuming smooth withdrawal over my lifetime with an expected age of 100, I'm setting my smooth withdrawal end date to the year I'm 71. That's the year after I start withdrawing SS.