New retirement planner I'm working on

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surprising

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I'd like to introduce my new retirement planner that I have been working on. If you're familiar with i-orp, it uses the same linear programming techniques to build a retirement withdrawal strategy across your accounts to maximize spending (withdrawals minus taxes). It has a rich understanding of the tax code, including standard deduction, long term cap gains brackets including 0%, federal and state taxes, and early withdrawal penalties for ROTH and IRA accounts. It supports the common account types such as after-tax brokerage, Traditional IRA, ROTH, as well as rental properties and social security. New account types can easily be added. It supports any number of account types.

Attached is a screenshot of the web interface work in progress. If anyone is interested in trying it out, let me know. If there is enough interest I can look into getting it hosted.

planner.png
 
I can give it a shot if you'd like. I can compare to what Pralana spits out.
 
Thank you for sharing.

Given the democratization of programming with the current generation of digital natives approaching retirement, I am not surprised to see many applications popping here and there. This is not to account for coding agents which lower the barrier even more.

I am curious to play with it. I also have a few questions:

There are a few open-source projects that surfaced over the last 2 years and are using a similar approach:
- Wayne Scott's fplan (GitHub - wscott/fplan: Early retirement financial calculator) extended Jim Welch's i-orp for more FIRE capabilities.
- hubcity's drawdowncalc (https://drawdowncalc.com/) using PuLP and excellent for considering state taxes.
- Owl (Optimal Wealth Lab) using MILP (https://owlplanner.streamlit.app) and extending previous approaches by fully optimizing Medicare. (full disclosure - I'm the main author of this one).

Given these choices, and the fact that commercial products (Boldin, ProjectionLab, etc.) will soon jump on this bandwagon once this technology has demonstrated its full potential, what are your long-term goals? In particular, are you planning to turn this into a (yet another) commercial offering? Crowd sourcing? Open-source?

- What are the privacy policies with respect to user data?

Thanks again for sharing.
 
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I really liked i-ORP and found it particularly useful because it told you the optimal drawdown along with optimal tax placement. I recall some people pointed out shortcomings with respect to NIIT and IRMAA (or maybe it was something else that was supposedly non-linear).
 
SnowyOwl said:
Thank you for sharing.

Given the democratization of programming with the current generation of digital natives approaching retirement, I am not surprised to see many applications popping here and there. This is not to account for coding agents which lower the barrier even more.

I am curious to play with it. I also have a few questions:

There are a few open-source projects that surfaced over the last 2 years and are using a similar approach:
- Wayne Scott's fplan (GitHub - wscott/fplan: Early retirement financial calculator) extended Jim Welch's i-orp for more FIRE capabilities.
- hubcity's drawdowncalc (https://drawdowncalc.com/) using PuLP and excellent for considering state taxes.
- Owl (Optimal Wealth Lab) using MILP (https://owlplanner.streamlit.app) and extending previous approaches by fully optimizing Medicare. (full disclosure - I'm the main author of this one).

Given these choices, and the fact that commercial products (Boldin, ProjectionLab, etc.) will soon jump on this bandwagon once this technology has demonstrated its full potential, what are your long-term goals? In particular, are you planning to turn this into a (yet another) commercial offering? Crowd sourcing? Open-source?

- What are the privacy policies with respect to user data?

Thanks again for sharing.
Click to expand...
It's a bit of a passion project mostly. I was a big fan of i-orp, and credit it for giving me the confidence to retire early at 51. It was the only planner I found at the time that took into account pre 59.5 issues when computing max spending. When the site shut down it sparked an idea to develop something similar some day and build out the pre 59.5 needs even further as well as features I need like managing rental income. It's turned out even better than I thought so I figured I'd put it out there for feedback to see if it's something that could be useful to others.

As far as privacy, currently the user data is cached browser-side and nothing is stored on the server.
 
SnowballCamper said:
I really liked i-ORP and found it particularly useful because it told you the optimal drawdown along with optimal tax placement. I recall some people pointed out shortcomings with respect to NIIT and IRMAA (or maybe it was something else that was supposedly non-linear).
Click to expand...
When I was young and just starting to think about retiring, I hired an FA and gave him a bunch of money to manage. I also started reading a lot about retiring and trying various planners. I remember asking the FA when I can retire and he said "right now!" At the time I didn't have much money saved outside of 401k and I was many many years from 59.5, so it made no sense to me. I asked for a breakdown on where the money is going to come from and he said "Oh our software doesn't give that level of detail." Hmm I did not walk away with any confidence to actually retire.

Eventually I came across i-orp and it was eye opening. Actual detailed yearly withdrawals across accounts for every year of retirement! Playing with various strategies gave me a playbook on what to do before retiring. I fired that FA and then retired at 51.
 
I have always thought that Quicken Lifetime Planner was a great retirement planner that covered a lot of bases in easy to use screens. The principal flaw with QLP was that it was deterministic rather than stochastic. You may want to look at QLP if you have access to it for inputs.

If you had something with the inputs of QLP but with stochastic analysis based on AA like FIRECalc, tax calculations and Roth conversion that would be a killer app/website.
 
Raises hand and says "me". Looks interesting good luck with the ongoing development.
 
Just saw this thread - for sure interested. I miss iORP and could use guidance on how much to push the Roth conversion envelope.
 
SnowyOwl said:
Given the democratization of programming with the current generation of digital natives approaching retirement, I am not surprised to see many applications popping here and there. This is not to account for coding agents which lower the barrier even more.
Click to expand...
Yes, there now several options, which is nice for those of us analytical types that don't mind taking the time to understand how to operate the calculators.

The way I see it, because a good calculator will require many inputs, and it takes time to align the inputs with what the model expects, people will find one that works for them, and stick with it. So having a tool that looks like it will not disappear or get converted into a fee product or worse, used to market paid retirement planning advice are all important. I suspect our members will have the smarts to spot the tools that are just trying to do good without hidden motives.
 
One should be careful with the myriad of tools. What is the background of a developer and how committed are they to improving the tool?

That's general advice.
 
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