 |
Projected RMD calculator?
05-10-2019, 10:58 AM
|
#1
|
|
Recycles dryer sheets
Join Date: Aug 2018
Location: YUKON,OK
Posts: 255
|
Projected RMD calculator?
I've Googled everything. Trying to find a RMD calculator that will let me put in more than birthdate and savings. I need it to allow for withdraws from now (57.5) to 71.5. I've adjusted DOB, ROR etc and it just messes up the numbers. I'm trying to calculate future RMD's based on my current savings, minus WD's over the next 11 years plus interest.
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
|
05-10-2019, 11:03 AM
|
#2
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2013
Location: Les Bois
Posts: 5,761
|
do you have a spreadsheet software? you could bust that out yourself in excel, based on current law anyway
__________________
You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
|
|
|
|
|
05-10-2019, 11:04 AM
|
#3
|
|
Moderator
Join Date: Oct 2010
Posts: 10,718
|
i-orp
|
|
|
|
|
05-10-2019, 11:13 AM
|
#4
|
|
Recycles dryer sheets
Join Date: Aug 2018
Location: YUKON,OK
Posts: 255
|
I-orp indeed gives some details. Thanks. Gets me in the ballpark anyway.
|
|
|
|
|
05-10-2019, 11:24 AM
|
#5
|
|
Full time employment: Posting here.
Join Date: May 2014
Posts: 977
|
Vanguard has a nice RMD calculator that you can enter different variables and "what-ifs." Not sure if it is only for enrolled customers.
|
|
|
|
|
05-10-2019, 11:48 AM
|
#6
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,295
|
Fidelity also has a RMD column in their withdrawal details on their calculator.
__________________
TGIM
|
|
|
|
|
05-10-2019, 12:14 PM
|
#7
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2016
Location: Colorado
Posts: 8,971
|
 Quote:
Originally Posted by Dtail
Fidelity also has a RMD column in their withdrawal details on their calculator.
|
I thought about that too, but I don't think you can modify the withdrawal date before 70.5, can you?
|
|
|
|
|
05-10-2019, 12:46 PM
|
#8
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,295
|
Quote:
Originally Posted by COcheesehead
I thought about that too, but I don't think you can modify the withdrawal date before 70.5, can you?
|
Yeah you are probably right.
__________________
TGIM
|
|
|
|
|
05-10-2019, 12:49 PM
|
#9
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2014
Location: Huntsville, AL/Helen, GA
Posts: 6,002
|
You can get the information on the IRS.gov website for RMD percentages.
Unfortunately the year end balances on your IRA/401K's is a moving target--depending usually on how the stock market's doing. Makes future tax planning a little hit or miss.
|
|
|
|
|
05-10-2019, 01:21 PM
|
#10
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2016
Location: Colorado
Posts: 8,971
|
|
|
|
|
|
05-10-2019, 01:41 PM
|
#11
|
|
Full time employment: Posting here.
Join Date: Jul 2013
Posts: 953
|
Quote:
Originally Posted by Bamaman
You can get the information on the IRS.gov website for RMD percentages.
Unfortunately the year end balances on your IRA/401K's is a moving target--depending usually on how the stock market's doing. Makes future tax planning a little hit or miss.
|
I have tried to do some modeling on RMDs and the impact on taxes. What I came up with is a decent estimate of what our taxes will be in the future, including an estimate of the impact of a surviving spouse.
Then you have the big question mark on the possibility if the tax rates will revert back to where they were a few years ago. The current tax schedule is a 'temporary'.
Quote:
|
After December 31, 2025, the individual income tax rate schedule is set to revert to the pre-TCJA brackets and rates. Should this occur, many households would see their taxes go up significantly in 2026.
|
Top this off with a big slice of 'what do you think the market will do in the next 10-15 years'! I ended up with a philosophy that we will probably be in the 22% incremental tax bracket, it gets worse if one of us passes, and even worse if the tax tables revert. Therefore- ROTH convert as much as possible and just close your eyes, pinch your nose, and pay the taxes.
__________________
Well it's all right, we're heading to the end of the line...
|
|
|
|
|
05-10-2019, 02:05 PM
|
#12
|
|
Thinks s/he gets paid by the post
Join Date: Mar 2009
Posts: 2,984
|
IMHO there are many more considerations than a calculator can provide. For example DW and I have converted most of our equity holdings to our Roth accounts. Over 80% of our tIRA's in fixed income. This narrows the range for future RMD estimates. We simply take our current IRA balance and divide it by 27.4. Since it is pretty close to our current withdrawal of interest and dividends it is good enough currently at 7 years out.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
|
|
|
|
|
05-10-2019, 02:24 PM
|
#13
|
|
Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Texas
Posts: 3,024
|
This sounds like a fairly routine spreadsheet exercise... beginning IRA balances, plus market change at some RoR assumption, minus pre-RMD WDs, minus RMDs (using IRS factors), equals ending balance. One row for each year. For us, it would also include Roth conversions.
As others have mentioned, the much harder part is predicting growth and future tax rates and then optimizing all this with the rest of your withdrawal strategy and decisions (like when to take SS). After lots of analysis, and even considering the one-spouse-dies-early scenario, I've decided not to convert beyond the top of the 12% bracket.
So regarding RMDs, at this point... it is what it is. If the market is generous, I'll happily pay my tax. If the market is a trainwreck, I'll be happy I didn't convert into the 22% bracket. I'm happy either way.
__________________
Retired at 52 in July 2013. On to better things...
AA: 85/15 WR: 2.7% SI: 2 pensions, SS later
|
|
|
|
|
05-10-2019, 02:28 PM
|
#14
|
|
Thinks s/he gets paid by the post
Join Date: Dec 2015
Location: Santa Paula
Posts: 4,076
|
I have both mine and DW's in a spreadsheet. I downloaded the table from the IRS.
I use it to keep track of my withdrawals. I have it to calculate the total that are QCD, plus $ to our sons,, some to me, and some for taxes. Once set up it is painless year to year
__________________
Retired Jan 2009 Have not looked back.
AA 60/35/5 considering SS and pensions a SP annuity
WR 2% with 2SS & 2 Pensions
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
| Thread Tools |
|
|
| Display Modes |
 Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
