Great interview! This product may be just what I'm looking for. I'm a 58 year old CalPERS member with 25 years of service. I'm getting to that point of formulating a retirment plan. I have no savings, so my pension and social security is all I'll have. I do rent rooms in my home, but I don't earmark that for any expenses. I want to make sure I don't miss anything before heading into retirement. I need to have a rock-solid plan, so I know exactly what I need to do and when I need to do it. This product may meet my needs.
I’m so grateful to have New Retirement. I would love a few extra scenarios raised above 5. ALSO, has there been any talk about making this an education tool (for both high schools, and non-profits)? It would have to work with a management acct.
at 20 minutes: Don't look at total taxes paid, that is a misleading metric. Look at after taxed value of the money. I used that at age 85 to determine to optimum amount to convert. I derate the IRA by 27 percent to account for the taxes. Roth of course gets no derating because it is after tax money. The biggest advantage of roth conversions for me is that it keeps Social Security in a lower tax bracket. This is a bit of a sweet spot. If you have no other income other than Social Security it doesn't matter. If you have way too much income it won't make much difference either.
I tried the free version but, it was lacking simple inputs like I already start my pension at 49 y/o & my wife is still working for two more years. That's what we need a fee-only advisor to see if Roth conversions make sense with SS at 62 y/o. We can't find anybody who doesn't want to manage your money. Rob Thank you for your guess Mr.Chen.
Great interview! This product may be just what I'm looking for. I'm a 58 year old CalPERS member with 25 years of service. I'm getting to that point of formulating a retirment plan. I have no savings, so my pension and social security is all I'll have. I do rent rooms in my home, but I don't earmark that for any expenses. I want to make sure I don't miss anything before heading into retirement. I need to have a rock-solid plan, so I know exactly what I need to do and when I need to do it. This product may meet my needs.
I’m so grateful to have New Retirement. I would love a few extra scenarios raised above 5.
ALSO, has there been any talk about making this an education tool (for both high schools, and non-profits)? It would have to work with a management acct.
Maybe entering an example would help
This was really helpful to see what all this product can do. If you do a Roth Conversion, does it account for the decrease in amount paid in taxes?
at 20 minutes: Don't look at total taxes paid, that is a misleading metric. Look at after taxed value of the money. I used that at age 85 to determine to optimum amount to convert. I derate the IRA by 27 percent to account for the taxes. Roth of course gets no derating because it is after tax money. The biggest advantage of roth conversions for me is that it keeps Social Security in a lower tax bracket. This is a bit of a sweet spot. If you have no other income other than Social Security it doesn't matter. If you have way too much income it won't make much difference either.
I tried the free version but, it was lacking simple inputs like I already start my pension at 49 y/o & my wife is still working for two more years. That's what we need a fee-only advisor to see if Roth conversions make sense with SS at 62 y/o. We can't find anybody who doesn't want to manage your money. Rob Thank you for your guess Mr.Chen.
Great video and you asked the questions I was thinking of. Might check out the planner. Thanks for sharing!
Love the cocaine reference from Steve !
Maxifi seems like software that would be more effective at helping an individual plan and compare different scenarios.
Love this segment as a baby boomer getting ready to make the leap to retirement--This product "speaks to me". Thanks!
projection lab way better
What three index funds would you put into your Roth IRA?
If I were limited to 3, I'd still to the 3-fund portfolio: VIT, BND, VXUS. You could substitute other similar funds, of course.
Why would I put the most tax efficient funds (index funds) in an account that’s already tax deferred. ? Doesn’t make sense to me.