Does anyone here use YNAB and, if so, how did you adapt YNAB's budget model to correspond to the groups assumed by ESP?
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I bought a whole life policy in the '80s. The terms of the contract provided that after a certain number of years I stop paying premiums as the earnings of policy will be sufficient to pay them and increase the amount of insurance yearly.
I'm having a problem with the amounts I put in as the amounts we have currently in our retirement accounts are not showing up in the amounts the program lists in retirement account columns of the Net Worth section of the report.
I note in my ESPlanner report that the program distributes more from my IRA than the Required Minimum Distribution to maintain the suggested consumption. That's fine with me but is there a way to see what the RMD and additional distribution amounts are in each year? Thanks.
I have a question about how this assumption works. When I
use the assumption that Two can live as cheaply as Two, I get a discretionary
spending number that 10% greater than the assumption that Two can live as
Is there any information on setting up and using the ESPlanner Monti Carlo features. I'm looking for ESPlanner specifics.
I specified 7 annual roth conversions until I reach age 70 and I also specified that social security benefits would begin at age 66. The report correctly shows the first 3 conversions only. When I increase the social security claiming age to 70 then I get all the conversions.
Without changing anything else, when I lower the nominal rate of return on my regular assets (say from 6% to 4%), my smoothed standard living for adult (and thus discretionary spending) goes up! And the more I lower the nominal rate, the higher it goes up.
If you are younger than age 65 you may qualify for health care subsidies and are required to carry health care insurance. Figuring the subsidy manually is a bit obtuse since it is based on your household’s MAGI (modified adjusted gross income).
I now have access to my employers non-qualified deferred compensation program, and I'm struggling how to handle that in the planner. Let's say I defer $75,000 from my 2017 annual salary. The deferall occurs on a pre-tax basis.
My spouse and I are 60 and just retiring. Cash is especially important to us before taking SS at 70. At 62 I could get a reverse mortgage. I have an expensive home with high equity and a good sized mortgage.
Is it possible to run this program on a MAC or use it as a web based program on my MAC?
Why is the treatment of the first year retirement account balance calculation inconsistent with following years in the "detailed retirement accounts report"?
What I have concluded is that the Basic version (at least) does not calculate life insurance correctly in situations in which credit constraints make it so that the standard of living cannot be fully smoothed over the lifetime (either in the actual results or in a survivor scenario).
I have been a member of for over 5 yrs. I've been using your ESPlannerPlus software. I really like it. My wife and I are thinking that it would be good to try out your "Maximize My Living Standard" service.
I have a Cash Balance Plan defined benefit pension. It's defined contribution by the employer while employed, then the balance is available to me as a defined benefit at retirement. The cash balance can be used to purchase an annuity or taken as a lump sum and rolled over to an IRA.
Does a list exist for what is defined as non-discretionary spending? I am wanting to compare my real life discretionary spending against what ESPlanner calculates, but I need to be able to subtract out my non-discretionary spending first. Thank you
I have a Universal Life Insurance policy. I think this may have been called whole life in the past. Basically my payment provides for a fixed amount life insurance policy while the remainder becomes a savings account with a stated minimal interest rate.
I am adding a sunroom to my home this year. Is that a special withdrawal or a special expenditure or both? The special expenditure to detail the expense and the special withdrawal to pay for it?
Re: Maximize My Social Security (MMSS)
I plan to retire in approx 3 years and want to model refinancing my mortgage at that time (after having made extra payments during those years). I don't see how to do that in ESP.
How do you model 1031 Exchanges on real estate? I have a property that I will be selling next year and purchasing a new property with and the program is currently estimating taxes on the sales price.
My employer pays the premiums for the first $200k on life insurance and then I pay approx $2k/year for an additional $150k of insurance.
I have found that if I set the borrowing constraint to $50,000, that ESPlanner is unable to provide a Lifetime Smooth Consumption Amount. Instead, it provides four very different Smooth Consumption Amounts for 4 distinct periods (e.g., 2016-2021, 2022-2025, and 2016-2027, 2028 and later).
I sold my primary home in 2015, and am living in my vacation home full time for the next 3-5 years.
I plan to buy a new Primary Home in 2021.
Here’s how I modeled this in ESPlanner: