Search found 17 matches

by Old Mike
Thu Jul 14, 2022 5:06 pm
Forum: General questions and comments
Topic: Effective Tax Rate - It Changes Each Year Doesn't It?
Replies: 2
Views: 6432

Effective Tax Rate - It Changes Each Year Doesn't It?

I've been playing around with the income tax rate a bit in an FRP scenario built for my co-worker. Since 95% of his nest egg is in a tax deferred account, I found that even small changes in the income tax field tend to have a large impact on his success rate. But then I started playing around with a...
by Old Mike
Mon Apr 25, 2022 4:23 pm
Forum: General questions and comments
Topic: Here is what I find amazing...
Replies: 6
Views: 103708

Here is what I find amazing...

The FRP software has been helpful to me beyond words. After several years of use, I can confidently say it is the best planning tool available and we're all incredibly lucky that Jim made it available to DIY guys and gals. And more so, that he supports it as wonderfully as he does. I'm a reasonably ...
by Old Mike
Sun Dec 19, 2021 12:36 pm
Forum: General questions and comments
Topic: Annual Retirement Spending
Replies: 2
Views: 7700

Re: Annual Retirement Spending

Yeah, I know what you mean about not wanting to mess around with something that isn't broken. I wholehearted agree. You're right about using an another entry in Additional Inputs. That will work. I guess I was looking for the path of least clicking. I can't believe this software hasn't received any ...
by Old Mike
Sat Dec 18, 2021 12:30 pm
Forum: General questions and comments
Topic: Annual Retirement Spending
Replies: 2
Views: 7700

Annual Retirement Spending

Hey Jim, Let me start off by saying (as I have in the past) that FRP is simply the most valuable tool I have in my financial plan. I have modeled more than 50 different scenarios which each black swan event I can think of. Whenever I read of some new fear that investors should supposedly worry about...
by Old Mike
Sat Aug 07, 2021 3:18 pm
Forum: General questions and comments
Topic: Roth Set Up Instructions
Replies: 1
Views: 7652

Roth Set Up Instructions

Hey Jim - Thank you for putting Roth conversions into FRP. This tool just keeps getting better. Do you have any instructions written up regarding the proper use of the Roth Conversions input? I'm playing around with it but unsure of how to set it up correctly. I'm assuming the taxable amount should ...
by Old Mike
Thu Jul 15, 2021 3:05 pm
Forum: General questions and comments
Topic: Correct Entry Amount for Social Security
Replies: 4
Views: 10416

Re: Correct Entry Amount for Social Security

Yeah... I ran it both ways. I like running it better through the Additional Inputs window since it gives the ability to tweak it the taxes.

Thank you Jim for the great support and incredible software.
by Old Mike
Thu Jul 15, 2021 2:00 pm
Forum: General questions and comments
Topic: Correct Entry Amount for Social Security
Replies: 4
Views: 10416

Re: Correct Entry Amount for Social Security

Thanks Jim. I'm actually going to reduce the SS cash flow by 25% which seems to be a decent fail-safe percentage based on what I've read. Not sure how SS will handle future COLA's though. You wrote "and entering as a "Tracks Inflation" cash flow should be right" ... I'm entering ...
by Old Mike
Thu Jul 15, 2021 11:03 am
Forum: General questions and comments
Topic: Correct Entry Amount for Social Security
Replies: 4
Views: 10416

Correct Entry Amount for Social Security

Let's say I'm 52 and my most recent SS statement says that if I retire at 52 and collect SS at 62, then my monthly payment will be $1,493. I think this amount in today's dollars (not dollars 10 years from now). For FRP, I am guessing that I should just enter $17,916 (12 x $1,493) into the Annual Ret...
by Old Mike
Sun Feb 28, 2021 7:03 pm
Forum: General questions and comments
Topic: Including a Future Sale of Vacation Home
Replies: 3
Views: 9135

Re: Including a Future Sale of Vacation Home

Hey Jim,

Yup. Just checked it by messing with inflation and yeah... we get $500k if inflation is the same as the COLA on the house.

Thank you for the support and for this incredible program.

Mike