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looking for advice on software for analysis
Old 04-01-2021, 04:13 PM   #1
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looking for advice on software for analysis

My husband and I need to make some decisions around timing of deferred comp payouts as well as timing of ROTH conversions. We will be juggling these variables along with how timing may impact ACA costs and IRMAA to ensure that we are being as cost/tax efficient as possible.

With that as the backdrop, what is the best software out there that can handle analyzing all of these moving parts? I am fairly adept at excel, but I dread building my own spreadsheet model for fear that I will miss something that could have significant financial consequences. And, yes, as my user name states, I am a cpa. However, I spent most of my career in corporate finance and know only enough to be dangerous in personal taxes

Thanks in advance for any information you can provide.
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Old 04-01-2021, 11:30 PM   #2
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It will be great if you find some, even if it answers only part of the question.
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Old 04-02-2021, 03:23 AM   #3
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Well - have a look at Retiree Portfolio Model from over at Bogleheads. I've only been playing around with it. It won't simply calculate the optimum for you, but based on your inputs it will give you the output.
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Old 04-02-2021, 05:50 AM   #4
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I've never found anything that handles deferred comp gracefully. I always have to hack things. Even the firm that houses my deferred comp and offers financial planning to go along with it doesn't have a calculator that properly deals with deferred comp!

Personally, I've just built up a variety of home grown models that I sanity check with other calculators and rules-of-thumb.
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Old 04-02-2021, 06:41 AM   #5
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If you’re a CPA, why not hire a CPA with expertise in that topic?
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Old 04-02-2021, 07:44 AM   #6
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If you've never tried i-orp, it might be worth a try. It runs an all-years optimization and includes the ability to Roth convert as well as income limit for the ACA. You will have to iterate on deferred compensation options, and might not be a way to input that. It's a web based tool, free. Look for the advanced link down nearer the bottom of the default page. Also, if you rebalance across all tax categories, put the same stock % in all 3 buckets.
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Old 04-06-2021, 07:24 PM   #7
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The Retiree Portfolio Model (RPM) on Bogleheads suggested by @clobber is the best tool I have come across. i-orp is not helpful for me. TIAA has a tool that is unhelpful.

I built my own model 25 years ago, and have been tweaking it for that amount of time. It has evolved to be similar to the RPM, although less fancy.
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Old 04-07-2021, 04:29 AM   #8
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I use a combination of my 10-year plan (one sheet summary), Flexible Retirement Planner, and TurboTax WhatIf worksheet. But I only have the Roth Conversion need in my model.

The aha moment for me was that with any of the tools I eventually had to take ownership of the problem, and understand the inputs and outputs. An app can give you an answer, but have you entered every variable correctly?

I would start with the RPM tool, but it is a challenge.
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