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Increasing Savings
Posted: Wed Dec 31, 2014 2:22 pm
by Deke
Under "Additional Inputs" is there a way to get around (or an explanation of) the inflation being greyed out for the savings items? I'm currently in my 20s and expect to increase my rate of savings beyond inflation up to a certain amount and am not sure how to account for this. I likewise expect my salary (and employer match) to correspondingly increase greater than inflation for the next few years.
Re: Increasing Savings
Posted: Wed Dec 31, 2014 4:04 pm
by jimr
Unfortunately, this is an oversight. When I added the Fixed COLA option, I didn't extend it to the savings cash flow types. I made a note to add this capability next time I'm in that code.
In the meantime, the best bet is probably to chunk up your savings cashflows into 5 or 10 year periods and manually reset the amount at the start of each period. It's not exact of course, but that's the nature of any retirement model and this should give you a decent approximation.
Jim
Re: Increasing Savings
Posted: Fri Jan 02, 2015 1:17 pm
by Deke
Thanks Jim, I'll do that.
Out of curiosity, how often do you update the code?
Re: Increasing Savings
Posted: Fri Jan 02, 2015 9:01 pm
by jimr
The software is getting pretty mature at this point, but I do updates right away when a serious issue is found. Otherwise, timing for updates is based on when I get inspired to add something new, which is often by user request.
You can check out the release notes under help for the full version history of the software.
Jim