Secure Act

[klrjaa]

Hi Jim

If the Secure Act passes as expected, how will be handle the change to the RMD age change? Hardcoded as this will require another version change if it changes say in 5 years? Or configurable so we can change it and no new version required if it were to change again in 5 years? I certainly vote for the later approach. Which kinda raises a larger issue in terms of what will happen if you were unable to continue making changes? That will become the case at some point and I don't see anything that comes close to the capabilities FRP offers. Happy holidays to all !!!

[jimr]

I'm watching this and will definitely do an update once we know how it'll work.

As things stand, there's not very much US tax-code specific logic in the planner and I'm hoping to be able to make any changes needed for this in a way that's flexible for the future.

[klrjaa]

good to hear Jim thanks

[target2019]

RMD would be better as configurable. Some have started RMD, and some will start RMD at 72.

I thought I could over-ride things, by setting Min IRA/401k Withdrawal Age to 72, but that is not the case.

[jimr]

Yeah, the min IRA setting was actually put in there to support folks outside the US in countries with different rules around the age where penalty free withdrawals start. Also, that setting can be helpful when the deferred or tax free account is being used for something like an education fund where there is no age restriction on it. This setting is very often misunderstood and I probably need a better label or a popup or something on it.

If I had it to do again, I'd make this all more configurable and generic rather than tying it to current US law.

I think in the redo to cover these upcoming changes, I'll likely try to push things in that direction.

[jimr]

fyi, there's a new version of the planner that changes the default RMD start age to 72 and also allows the start age to be configured in settings.

This new version number is 4.03.01 and it's available for download here:
https://www.flexibleretirementplanner.com/wp/download/

(you can check your current version by clicking help->release notes from the menu bar at the top of the program window)

[elvisimprsntr]

fyi, there's a new version of the planner that changes the default RMD start age to 72 and also allows the start age to be configured in settings.

This new version number is 4.03.01 and it's available for download here:
https://www.flexibleretirementplanner.com/wp/download/

(you can check your current version by clicking help->release notes from the menu bar at the top of the program window)

Recently discovered and started using this analysis tool. Came to the forum for this exact question, which you already solved.

@jimr Thanks a bunch!

[jimr]

You're welcome. I'm glad you found this thread and got your question answered.

[klrjaa]

awesome thanks Jim !!!!

[target2019]

fyi, there's a new version of the planner that changes the default RMD start age to 72 and also allows the start age to be configured in settings.

This new version number is 4.03.01 and it's available for download here:
https://www.flexibleretirementplanner.com/wp/download/

(you can check your current version by clicking help->release notes from the menu bar at the top of the program window)

Much appreciated!