Rental property A (single family home) that has zero mortgage balance.
Rental property B (single family home) that has a current $80K mortgage balance.
Primary residence property C that has a current $150K mortgage balance.
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My mother is retired and is going to move to a retirement community. The retirement community has a buy-in fee ($267k).
I plan on installing a home solar system this year (2019) and capture the Federal Solar Income Tax Credit among other incentives. The tax credit may roll over to following years if one doesn't have enough income tax liability to offset it immediately. How should I enter this in ESP?
I am 68 and my wife is 60. I am running the program with the assumption that both of us have not collected or applied for Social Security as of yet and we both planning on claiming on our own SS accounts, I at 70 she at 62.
Why very often in the first year Savings goes into Discretionary expense ?
Thank you, Max
I know what an annuity is, but the word "annuitize" can mean different things. In Retirement Accounts/Smooth Withdrawals, ESPlanner asks the user to specify the percent of retirement assets to be annuitized.
Under Retirement Accounts/Smooth Withdrawals, ESPlanner asks the user to specify percent of assets to be annuitized. Does this refer to self-annuitization, or does this refer to annuities that I plan to buy? I don't plan to purchase any annuities at this point.
that act lets me exclude $250k for single person OFF the capital gains. How do I indicate this in esplanner
I'm running the latest version 2.38.3. I entered a test family with conventional planning and sufficient assets for a comfortable retirement. But the reports could not be produced because of a computation error below.
I am unable to run a survivor's report with contingent planning. I have the following error log:
My subscription to ESPlanner Plus ends in early May. Since I recently purchased MaxFi Premium I no longer need ESPlanner. I want to cancel the subscription before it renews.
I sold stock this year, 2019, for a long term capital gains. How should I enter this into special receipts? What changes should I make to the Individual Stock values I entered in Assets and savings as of 31Dec18?
When I create a report assuming conservative spending (zero real investment return), my Monte Carlo results (at page 128) show that the "Zero Real Return" and the "Specified Mean Real Return" are the same.
I've set inflation in the assumptions to 6%. However, my property tax is capped at 2%. To fix this discrepancy I removed property tax from the Primary Home field and entered it as a special expenditure. If I grew it at 0% it would increase by 6% so I grew it by a -4%.
Thank you for this very helpful article. However, who wrote it? "I" is not identified (that I could find).
I wrote up this summary about ESPlanner going forward and thought I'd share it here for those interested.
I've set Federal Income taxes to be changes and Part B Premium Change both in Year 2021. It seems to affect the Total Spending for Part B, but the report indicates I did not say either would be changed. No sure if it affected taxes.
I saw your note about the end of year bug being fixed in an update to ESPlannerPlus coming "in a few days". Is there also a Comprehensive Update coming that includes any/all of the implications of changes to the Tax Laws?
I am unable to add 2018 to the span of years in Monte Carlo when I try to edit assets or create new assets. I get an error message reading, "The span of return years must be from 1926 to 2017." Does this require an update? I am including screen shots to illustrate.