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Retirement Cash Planning Software
Old 07-12-2019, 11:31 AM   #1
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Retirement Cash Planning Software

Does anyone here would recommend a software that could automatically produce a draw-down plan based on the investment account types/balances to minimize overall tax and penalty over the entire retirement period?

A software that factors in federal/state tax rates, RMD, 72t, social security and other tax rules as effective today, and also have a flexibility allowing withdraw each year to be specified instead of a fixed amount/year would be perfect
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Old 07-12-2019, 02:51 PM   #2
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Originally Posted by DINKFIRE View Post
Does anyone here would recommend a software that could automatically produce a draw-down plan based on the investment account types/balances to minimize overall tax and penalty over the entire retirement period?

A software that factors in federal/state tax rates, RMD, 72t, social security and other tax rules as effective today, and also have a flexibility allowing withdraw each year to be specified instead of a fixed amount/year would be perfect
Not really but you can try https://www.i-orp.com/APenalty/extended.html

use the "extended form". Be careful with it as I believe it over estimates Roth conversions if you set it to allow up to highest tax rate

Its only a guide. Also I like this one https://www.bogleheads.org/wiki/Vari...age_withdrawal
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Old 07-12-2019, 02:59 PM   #3
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I'm not sure that anything exists that will give you all that, but I'm guessing that the extended version of I-ORP is as close as you'll come.

There are so many variables, including sequences of returns, and changes in tax rates, that I'm fairly convinced that judgement will be required, regardless.
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Old 07-12-2019, 03:22 PM   #4
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You can try this spreadsheet. Pretty in depth if you want. Free version but also a paid version.
https://pralanaretirementcalculator....l/get_prc.html
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Old 07-12-2019, 03:46 PM   #5
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Not really but you can try https://www.i-orp.com/APenalty/extended.html

use the "extended form". Be careful with it as I believe it over estimates Roth conversions if you set it to allow up to highest tax rate

Its only a guide. Also I like this one https://www.bogleheads.org/wiki/Vari...age_withdrawal
Great calculators, thank you for the info! Although it seems to overstate our retirement spending ability (or my own estimate is just too conservative), they do provide me with some assurance!
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Old 07-12-2019, 06:19 PM   #6
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Great calculators, thank you for the info! Although it seems to overstate our retirement spending ability (or my own estimate is just too conservative), they do provide me with some assurance!
Keep in mind that the Boglehead VPW withdrawal strategy is intended to spend the entire portfolio by age 100 vs. maintaining possibly an inflation adjusted start of retirement portfolio.
Thus typically larger withdrawal %'s.
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Old 07-13-2019, 02:48 AM   #7
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You can try this spreadsheet. Pretty in depth if you want. Free version but also a paid version.
https://pralanaretirementcalculator....l/get_prc.html
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Old 07-13-2019, 05:46 AM   #8
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There's a paid program called MaxiFi that's getting good reviews. Lots of reviews on the net including some people at Bogleheads. Haven't got around to trying it myself.
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Old 07-16-2019, 01:33 PM   #9
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There's a paid program called MaxiFi that's getting good reviews. Lots of reviews on the net including some people at Bogleheads. Haven't got around to trying it myself.
I checked out MaxiFi, and it seems to have a cost for sign-up and then annual renewal fee. It would be nice if they could provide a trial since it is quite expensive.
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Old 07-16-2019, 11:46 PM   #10
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I checked out MaxiFi, and it seems to have a cost for sign-up and then annual renewal fee. It would be nice if they could provide a trial since it is quite expensive.
IIRC MaxiFi was developed by Laurence Kotlikoff who has been involved in personal finance for quite some time. I haven't tried the software, but if I were to take a chance on anyone's financial software, I think I'd try this one on the strength of my reading of Kotlikoff's books. As always, YMMV.
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Old 07-18-2019, 10:11 AM   #11
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Here's a thread from bogleheads discussing a $20/month service that helps with how to take withdrawals most efficiently from tax-deferred accounts:

https://www.bogleheads.org/forum/viewtopic.php?t=236567
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