Questions about I-ORP

[hnzw_rui]

Quote:

Originally Posted by orplanner hnzw_rui, you have embarrassed me. I totally forgot about assets built up by you young folks through savings contributions before retirement. Adjustments will be made. I appreciate you bringing this little piece of stupidity to my attention.

Cool. Thanks!

[orplanner]

Quote:

Originally Posted by hnzw_rui I tried an estate of 1 ($1,000) and even that gave me an error. Current Age: 31 Retirement Age: 55 All Current Account Balances: 0 Maximum Annual Contribution of All Types: 20 Pension Inflation Adjusted: 65 I think it's basing the assets on current account balances.

I have made the CGI script a little smarter; namely it will recognize contributions to savings before retirement as assets and not give out these bogus error messages.

Thanks for your quality assurance assistance, hnzw_rui.

[orplanner]

Quote:

Originally Posted by sengsational It goes against what i-orp is all about! The whole purpose is for it to optimize your actions so you can end with whatever ending balance you want, and spend the rest! I'd rather he spend his time modeling the ACA into the tax calculations. We already have a "cliff avoidance" , which is awesome.

Your wish is my command. i-orp.com/BetaPTC.html is a beta version of ORP with PTC stuffed into it. I leave it to you to judge the correctness of it and its relevance to reality.

[sengsational]

I'm just catching this post. Actually caught the change after helping a family member. They are not candidates for the new feature, and I've not had a chance yet to test. But I did notice that the glide path input seems to be missing some columns? Or am I missing something. I thought there were 2 values each for IRA, Roth, taxable. Phone browser here, so it might be that.

[orplanner]

Quote:

Originally Posted by sengsational I'm just catching this post. Actually caught the change after helping a family member. They are not candidates for the new feature, and I've not had a chance yet to test. But I did notice that the glide path input seems to be missing some columns? Or am I missing something. I thought there were 2 values each for IRA, Roth, taxable. Phone browser here, so it might be that.

The change is an attempt to fix some hot water I was getting into. Turns out it was a bit of a dumb idea. I have hatched a better scheme which will be installed in a day or so. Sorry for the inconvenience.

[sengsational]

Quote:

Originally Posted by orplanner Your wish is my command. i-orp.com/BetaPTC.html is a beta version of ORP with PTC stuffed into it. I leave it to you to judge the correctness of it and its relevance to reality.

This enhancement enabled this bit of analysis...the PTC is more than twice as valuable as Roth Conversions for my situation. It's percent of annual spend increase.

[gofan316]

@orplanner,

I may get something wrong here, or the software may have a bug. For the ACA/PTC line, my understanding is you enter the estimate credit amount there, for example 5 for $5000 Federal tax credit. By entering a number, it also enables the ORP to not generate too much taxable income (such as limiting Roth conversion), to keep O-MAGI from the "cliff".

When I enable Roth conversion, then enable ACA, the results are in line (however, the 42k Roth conversion and 26k income are a bit above the 62k cliff?)

But if I disable Roth conversion, but enable ACA by entering a number (I want to to see the effect of not doing any Roth conversion --- thus reduce taxes further, but still utilizing ACA credit), ORP increases spending level substantially, and withdrew from TaxDef account to supply spending, even though I have enough in the after-tax account, thus paying a lot of taxes at the beginning of the retirement (for age below 65). That does not seem correct.

I have also sent you email with the model ID.

[orplanner]

Quote:

Originally Posted by gofan316 @orplanner, I may get something wrong here, or the software may have a bug. For the ACA/PTC line, my understanding is you enter the estimate credit amount there, for example 5 for $5000 Federal tax credit. By entering a number, it also enables the ORP to not generate too much taxable income (such as limiting Roth conversion), to keep O-MAGI from the "cliff". When I enable Roth conversion, then enable ACA, the results are in line (however, the 42k Roth conversion and 26k income are a bit above the 62k cliff?) But if I disable Roth conversion, but enable ACA by entering a number (I want to to see the effect of not doing any Roth conversion --- thus reduce taxes further, but still utilizing ACA credit), ORP increases spending level substantially, and withdrew from TaxDef account to supply spending, even though I have enough in the after-tax account, thus paying a lot of taxes at the beginning of the retirement (for age below 65). That does not seem correct. I have also sent you email with the model ID.

I apologize for the delay in responding but your email, with the Model Id, never arrived. I would dearly love to see that run. The results you report do not seem correct. Disabling conversions should reduce spending a little.

Please re-transmit.