How to reset lifetime planner
I am using Quicken 2017 Deluxe for windows.
The lifetime planner was a great tool prior to retirement. BUT, My wife and I retired over 5 years ago and many of my original entries are not producing valid results.
For example, retirement expenses were very accurate in the 1st year of retirement but since then life changes, inflation variances from original estimates, etc. have changed drastically such that when I look at cash flows for say 2018 the expenses and social security make no sense.
How can I start over?
(Please Preserve-Part of an active Idea)
The lifetime planner was a great tool prior to retirement. BUT, My wife and I retired over 5 years ago and many of my original entries are not producing valid results.
For example, retirement expenses were very accurate in the 1st year of retirement but since then life changes, inflation variances from original estimates, etc. have changed drastically such that when I look at cash flows for say 2018 the expenses and social security make no sense.
How can I start over?
(Please Preserve-Part of an active Idea)
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I usually do this about once per year to keep my plan current.
Questions? Check out the Quicken Windows FAQ list
Questions? Check out the Quicken Windows FAQ list
There does not appear to be a way of deleting an existing home once it
has been entered in the Current Homes & Assets screen. As you suggested, I had already tried to "Exclude from Plan" the home sale that was modeled and whose date has now passed.
I want to remove or delete it because I am trying to debug a new future home sale entry that is giving erroneous results.
Would you model a future sale and view the planning results for the year in which the sale is to occur. I entered a sale price of $475,000, 1/1/2012 purchase date, purchase price of $160,000 with no increases, primary residence, 3/31/2018 sale date, -0- cost of improvements, 6% commission, no taxes, and $250,000 exemption. I expected the sales proceeds to be $475k-$475k*6%=$446.5k. The planner results say the net proceeds will be $398.661k. Since I do not have access to the algorithm to see how Quicken calculates the sales proceeds, I am searching for possible causes for the erroneous results. Do you know how to access the calculations? Are they posted for users somewhere?
Any other ideas?
Thanks again for your response.
Thanks for your response.
It dawned on me that an asset account is created when the user enters an asset in the Planning tool's "Current Homes & Assets" window. I deleted the associated asset account.
Unfortunately this did not fix the erroneous sales proceeds that the Planner shows in its results. I will work on this more and post a new question if I cannot resolve it myself.
Thanks again.
Just testing this now, you can't "unexclude" it from the plan if the date is prior to 1/1/2017. But you can "delete" it from the plan.
I also tested adding a sample new asset (a house that would be my primary home) for $1,000,000 in 2054.
The Lifetime Planner did NOT add a new asset account for this into Quicken.
Perhaps because that 2054 date had not been achieved yet??? I don't know if that's the case.
But we did purchase a new home in 2016...I had it in the Lifetime Planner and I know that a new asset was never added in Quicken from the planner.