Documentation for Detailed Table and what the headers mean

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joerob58
Posts: 6
Joined: Fri May 03, 2019 8:17 am

Documentation for Detailed Table and what the headers mean

Post by joerob58 » Sun May 05, 2019 1:01 am

Jim, just came across a question and reply in the forum about the Detailed Table columns from 2016. I am having an awful time trying to learn the "accounting" in the detail table - where is money going/moving to and when. I have slowly/painfully picked up on some columns, but, is there a "paper" or other write up to read and keep close by to help with determining where all the money is going and when?
Thanks for the planner software and your maintaining this forum.

jimr
Posts: 495
Joined: Thu Feb 28, 2008 6:48 pm

Re: Documentation for Detailed Table and what the headers mean

Post by jimr » Sun May 05, 2019 6:44 am

While it doesn't provide column by column descriptions for the detailed view table, the information on the "Planner Output" docs page might be helpful:
https://www.flexibleretirementplanner.c ... er-output/

Aside from that, there isn't a complete column-by-column description of the items in that table. Many of the columns are at least somewhat self explanatory, but I agree it'd be nice to have a cheat sheet and that's a good item for my to-do list.

In the meantime, I'm happy to answer any questions you have about any of the columns to fill in the blanks for you.

Jim

joerob58
Posts: 6
Joined: Fri May 03, 2019 8:17 am

Re: Documentation for Detailed Table and what the headers mean

Post by joerob58 » Sun May 05, 2019 8:36 am

Yes - a cheat sheet! :D
Thanks again for your replies.

One additional question: Is there a way to set up the software to block money going to the Taxable account and go to a Roth only?

Using the software to plan - My plan is/was to create a Roth IRA, do periodic withdrawals (monthly) over each year, and drain the Traditional IRA to zero balance, building the Roth balance. As the balance of the Traditional IRA lowers and the Roth balance rises, I would begin to change the distributions, balancing the withdrawals to eventually go completely to the Roth as the sole source of distributions.

I did not plan on a "Taxable" account to receive any transfer funds from the Traditional IRA because there is additional taxes to be paid even if I do not take any money from the taxable/brokerage account.
So, on the Settings Page where the "Configure the order for portfolio withdrawals and RMDs" bullet list is, I have to choose an option that doesn't fit my plan which then throws out the whole desired plan...


I thought for a moment to take the Taxable account and feed the Roth - but that won't work as it would be a contribution to the Roth - and I don't think I am allowed any IRA contributions with my "type" of income. Pension and SS - not earned income.

The software is very helpful even with my issue of not wanting to use a taxable account.

Thanks again.

jimr
Posts: 495
Joined: Thu Feb 28, 2008 6:48 pm

Re: Documentation for Detailed Table and what the headers mean

Post by jimr » Sun May 05, 2019 8:52 am

The challenge with blocking extra money from going into taxable is that the money has to go somewhere and in most circumstances, depositing extra money into a Roth or tax deferred account will trigger excessive contribution penalties from the IRS.

Putting any extra money, either from RMDs or because income was higher than expenses, into the taxable account is the only action that we know for sure won't trigger IRS penalties.

Does that make sense or am I missing something?

Jim

joerob58
Posts: 6
Joined: Fri May 03, 2019 8:17 am

Re: Documentation for Detailed Table and what the headers mean

Post by joerob58 » Sun May 05, 2019 11:15 am

I think you are correct. Thanks again.

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