(Salary - Deductible Contribution) * Tax Rate
Lifetime Planner Bug and Idea List - Make Yourself Heard!
Comments
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Adding a NEW IDEA to the original idea post. Have a look and vote!
TAX FREE ACCOUNT HANDLING ( ROTH IRA ) IMPROVEMENTS - added 09.05.21
- IDEA: Improve How ROTH IRAs are Displayed and Modelled in LTP - added 09.05.21
This new IDEA extends the ROTH IRA handling discussion earlier in this thread and replaces the IDEA link broken and lost when Quicken changed forum software....- If you want to see this IDEA implemented in LTP, please click the above link and vote to voice your support, and....
- If you want to see overall improvements made to LTP, please click on the vote button at the very top of this thread!
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Adding a NEW IDEA (new to this thread) to the original post. Have a look and vote!
TAX DEFERRED ACCOUNT (IRA and 401K) IMPROVEMENTS - updated 09.06.21
- IDEA: Update RMD Age to 72 for Tax Deferred Accounts - Secure Act - added 09.06.21
This popular idea, re: updating RMD age to 72 from 70, has been around for a while but never added to this consolidated/curated LTP improvement thread. Old RMD BUG links are now consolidated in the IDEA post and old broken links deleted....
NOTE: This RMD IDEA should extend to all applicable tax deferred account types that Quicken recognizes and not just T_IRAs and 401Ks !- If you want to see this IDEA implemented in LTP, please click the above link and vote to voice your support, and....
- If you want to see overall improvements made to LTP, please click on the vote button at the very top of this thread!
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Adding a REVISED IDEA to the original Lifetime Planner IDEA post. Have a look and vote!
TAX DEFERRED ACCOUNT (IRA and 401K) IMPROVEMENTS - updated 09.09.21
- IDEA: Improve How IRA and 401K Accounts are Modelled in LTP - added 09.09.21
Quicken LTP enforces certain modelling rules with respect to tax deferred account types such as IRAs and 401Ks. This IDEA extends a now unavailable (GetSat) post that seeks to improve modelling of these account types in LTP.- If you want to see this IDEA implemented in LTP, please click the above link and vote to voice your support, and....
- If you want to see overall improvements made to LTP, please click on the vote button at top of the first page of this thread!
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Adding a REVISED IDEA to the original Lifetime Planner BUG & IDEA list. The original idea had its illustrations stripped out...Have a look and vote!
TAX DEFERRED ACCOUNT (IRA and 401K) IMPROVEMENTS - updated 09.10.21
- IDEA: Fix IRA & 401K Owner Change From Account Setup to LTP - added 09.10.21
Account ownership for IRA and 401k accounts are not conveyed correctly from the selection made in account setup to the "Intended Use" assignment in Lifetime Planner Investments dialog.
If not caught and corrected by the user, IRA and 401K account balances, contributions and RMDs will be incorrectly attributed to the wrong spouse.- If you want to see this IDEA implemented in LTP, please click the above link and vote to voice your support, and....
- If you want to see overall improvements made to LTP, please click on the vote button at top of the first page of this thread!
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Adding a NEW IDEA to the original Lifetime Planner BUG & IDEA list.
Have a look and vote!
TAX MODELLING IMPROVEMENTS - added 09.26.21
- IDEA Salary Tax to Consider 401k or IRA Deductible Contributions - added 09.26.21
The current tax model in Quicken Lifetime Planner (LTP) does not calculate "tax on salary" based upon 401K or IRA deductible contributions. That is, LTP applies the tax rate setting to the "Total Salaries" amount, regardless of any tax-deferred, deductible contributions. For 401k and to a lessor degree IRA savers, this can result in a substantial under forecast of final plan balance.
The main focus of this change is to modify the current tax model in LTP to factor in 401K or IRA deductible contributions when calculating "tax on salaries".- If you want to see this IDEA implemented in LTP, click the above IDEA link and vote to voice your support, and....
- If you want to see overall improvements in LTP, click on the vote button, page one of this thread!
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LTP creates year wise income/expense summary that includes portfolio values in terms of taxable, your tax deferred and spouse tax deferred. Money is withdrawn from taxable during initial years. Needed taxes (including gains of taxable account) are included as expenses which is withdrawn from taxable portfolio. That is all great. However, there is another line item of taxes on gains of taxable portfolio. It seems tax on gains of taxable portfolio is being added twice. Any comments if I am missing something.0
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@Scooterlam I just found this thread...a little late to the game. Thanks for the great ideas. I sure hope Quicken folks are working on them. I've been a customer since the 90's and agree that LTP is due for some attention.1
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Never too late @pdq ! Make yourself heard!
FWIW, I'm presently updating the original IDEA post. I'm about half way through validating and updating the original ideas and bugs, where I can....and doing some reformatting / reorganizing along the way.
I also have another 9 or 10 new IDEAS ones to post. From there, Quicken product should have a good idea of what broken windows need to be fixed along with a laundry list to update and modernize LTP.
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Adding a NEW IDEA to the original Lifetime Planner BUG & IDEA list
Have a look and vote!
TAX FREE ACCOUNT ( ROTH IRA ) IMPROVEMENTS - updated 10.16.2021
- IDEA: Add Roth Conversion Modeling in LTP - added 10.16.2021
- If you want to see this IDEA implemented in LTP, click the above IDEA link and vote to voice your support, and...
- If you want to see overall improvements in LTP, click on the vote button, page one of this thread!
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Adding a NEW IDEA to the original Lifetime Planner BUG & IDEA list
Have a look and vote!
TAX DEFERRED ACCOUNT (IRA and 401K) IMPROVEMENTS - updated 10.26.21
- IDEA: Improve Account Assign. for Special, College, Home Expenses - added 10.26.21
- If you want to see this IDEA implemented in LTP, click the above IDEA link and vote to voice your support, and...
- If you want to see overall improvements in LTP, click on the vote button, page one of this thread!
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Adding a NEW IDEA to the original Lifetime Planner BUG & IDEA list
Have a look and vote!
HELP AND SUPPORT CONTENT IMPROVEMENT - added 10.27.21
- IDEA: Improve Help and Content in Lifetime Planner - added 10.27.21
- If you want to see this IDEA implemented in LTP, click the above IDEA link and vote to voice your support, and...
- If you want to see overall improvements in LTP, click on the vote button, page one of this thread!
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Adding a NEW IDEA to the original Lifetime Planner BUG & IDEA list
Have a look and vote!
MODERNIZATION - updated 10.29.21
- IDEA: Change Account Order of Withdrawal Sequence - added 10.29.21
- If you want to see this IDEA implemented in LTP, click the above IDEA link and vote to voice your support, and...
- If you want to see overall improvements in LTP, click on the vote button, page one of this thread!
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Adding a NEW IDEA to the original Lifetime Planner BUG & IDEA list
click on....
Add Participant Age(s) to Plan Summary Tables & Graphs
...to have a look, vote and comment!
In the OP, find this IDEA under....
REPORT, PRINT AND EXPORT PLAN RESULTS - updated 10.29.21
- If you want to see this IDEA implemented in LTP, click the above IDEA link and vote to voice your support, and...
- If you want to see overall improvements in LTP, click on the vote button, page one of this thread!
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Adding a NEW IDEA to the original Lifetime Planner BUG & IDEA list
click on....
Canada - Add Lifetime Planner to Quicken Canada Version
...to have a look, vote and comment!
- If you want to see this IDEA implemented in LTP, click the above IDEA link and vote to voice your support, and...
- If you want to see overall improvements in LTP, click on the vote button, page one of this thread!
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@pdq Thanks for the kind words.
I'll ask a moderator to breakout your idea into its own post, then I can add them as a link to the curated list. That way, they can be discussed, elaborated and voted on individually to help keep ideas focused for both user and product mgr.
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Adding a NEW IDEA to the original Lifetime Planner BUG & IDEA list
click on....
...to have a look, vote and comment!
- If you want to see this IDEA implemented in LTP, click the above IDEA link and vote to voice your support, and...
- If you want to see overall improvements in LTP, click on the vote button, page one of this thread!
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Adding a NEW IDEA to the original Lifetime Planner BUG & IDEA list
click on....
...to have a look, vote and comment!
Summary
Implement a user-selectable OPTION, in Lifetime Planner, to calculate federal and state tax expenses based on a comprehensive tax model (high fidelity tax model) similar to that used in Quicken's Tax Planner. Incorporate a simplified state tax model as part of this enhansement. The user should still retain the option of using the current average tax assumption v. new comprehensive model.- If you want to see this IDEA implemented in LTP, click the above IDEA link and vote to voice your support, and...
- If you want to see overall improvements in LTP, click on the vote button, page one of this thread!
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Adding a NEW IDEA to the original Lifetime Planner BUG & IDEA list
click on....
Modify Tax Model on Social Security Benefit Income
...to have a look, vote and comment!
Summary
Change the Social Security benefit tax model in LTP to align with SSA tax rules. Specifically implement Social Security Administration (SSA) "combined income" calculation and apply this against the published rate tables to determine how much of the SS benefit is subject to taxes. This new model would replace LTP's current, simplified, flat-rate of 85% of benefits subject to tax.- If you want to see this IDEA implemented in LTP, click the above IDEA link and vote to voice your support, and...
- If you want to see overall improvements in LTP, click on the vote button, page one of this thread!
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Adding a NEW IDEA to the Original Lifetime Planner BUG & IDEA list
click on....
Update Social Security Retirement Earnings Test Thresholds
...to have a look, vote and comment!
SUMMARY
The Social Security Administration (SSA) uses a Retirement Earnings Test to determine how much to reduce benefits when the beneficiary is also working.
Update and maintain Social Security Retirement Earnings Test (RET) thresholds in Lifetime Planner. In LTP, these thresholds are out of date and appear to use a simplified RET model with a higher than expected threshold amount and reduction factor. The correct earning thresholds and reduction amounts are progressive.- If you want to see this IDEA implemented in LTP, click the above IDEA link and vote to voice your support, and...
- If you want to see overall improvements in LTP, click on the vote button, page one of this thread!
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Adding a NEW IDEA to the Original Lifetime Planner BUG & IDEA list
click on....
Add HSA Account Type as a Selectable Investment Account
...to have a look, comment and VOTE!
SUMMARY
Health Savings Account (HSA) account type and related features are "under consideration" by the Quicken product team. This IDEA post requests that the HSA account type is also selectable in Lifetime Planner. This allows the HSA account to be used for future, major medical "special" expenses common in retirement. Click on the above link for more details!- If you want to see this IDEA implemented in LTP, click the above IDEA link, scroll to the bottom and VOTE, and...
- If you want to see overall improvements in LTP, click on the VOTE button, in the first post on page one of this thread!
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Adding a NEW IDEA to the Original Lifetime Planner BUG & IDEA list
click on....
Automate and Optimize Social Security Filing Dates in LTP
...to have a look, vote and comment!
SUMMARY
Add feature to automate and optimize Social Security filing dates to maximize LTP end-of-plan balance. Incorporate optional, user-entered constraints in the optimization process such as minimum yearly cashflow balance, minimum end-of-plan balance and/or minimum account-type (taxable) balance.For example: Calculate and maximize, for all permutations of SS filing dates for singles or couples age 62 to 70, LTP end-of-plan-balance while ensuring a minimum: yearly cashflow balance of $ xxxx, end-of-plan balance of $ yyyy and/or a yearly taxable account balance of $ zzzz.- If you want to see this IDEA implemented in LTP, click the above IDEA link, scroll to the bottom and VOTE, and...
- If you want to see overall improvements in LTP, click on the VOTE button, in the first post on page one of this thread!
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The optimum SS filing dates depend on a variety of factors. Looking at SS by itself, the tool at https://opensocialsecurity.com/ covers everything.
If one wants to include other things such as Roth conversion timing and amounts, the problem becomes much more complex. E.g., see https://i-orp.com/Plans/extended.html.
Speaking of I-ORP - if Quicken were to incorporate and improve that tool (I believe the developer is over 90 years old now), that could be very useful. All the starting balances, etc., would be in Quicken already.0 -
Adding a NEW IDEA to the Original Lifetime Planner BUG & IDEA list
click on....
Add Lifetime Planner Card to New Homepage Dashboard
...to have a look, vote and comment!
SUMMARY
While the new Homepage Dashboard is currently geared toward more tactical views, please consider adding a Lifetime Planner card to this new feature. Or alternately, add Lifetime Planner as a selectable card in the Classic Dashboard.- If you want to see this IDEA implemented in LTP, click the above IDEA link, scroll to the bottom and VOTE, and...
- If you want to see overall improvements in LTP, click on the VOTE button, in the first post on page one of this thread!
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Adding a NEW IDEA to the Original Lifetime Planner BUG & IDEA list
click on....
Spouse Social Security Assumption Does Not Change
...to have a look, vote and comment!
SUMMARY:In LTP, when the user changes the spouse Social Security amount in the underlying dialogs, the change is not reflected in the higher level Assumptions: Retirement Benefits dialog. This appears to affect some users but not others. Please investigate and correct this behavior.
- If you want to see this IDEA implemented in LTP, click the above IDEA link, scroll to the bottom and VOTE, and...
- If you want to see overall improvements in LTP, click on the VOTE button, in the first post on page one of this thread!
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Adding a NEW IDEA to the Original Lifetime Planner BUG & IDEA list
click on....
Enable Full Export of Plan Data - Create "Portfolio" DAT File
...to have a look, vote and comment!
SUMMARY:Enable full export of LTP plan data by creating a "Portfolio.DAT" file in the AppData directory. Doing this enables user access to all necessary LTP plan data (income, expense, assumptions, and portfolio). Users can then efficiently import and format their entire LTP plan in Excel. Do this until more industrialized features are built to better access and interact with LTP plan data.
- If you want to see this IDEA implemented in LTP, click the above IDEA link, scroll to the bottom and VOTE, and...
- If you want to see overall improvements in LTP, click on the VOTE button, in the first post on page one of this thread!
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NEW IDEA Added to the Original Lifetime Planner BUG & IDEA List
click on....
Show All User Assumptions in Plan Assumptions Window and Report
...to have a look, vote and comment!
SUMMARY:
<edited> The "Plan Assumptions" summary shown on the screen as well as in the "Print Lifetime Planner..." report does not show the "Rate of Return". Also, it does not show "Retirement Benefits" in the summary screen nor the report. Show ALL the details/assumptions exactly as entered and shown in the Change Assumptions dialog so that that the plan can be reviewed in detail with others. The printable report should not hide any of these essential details.
- If you want to see this IDEA implemented in LTP, click the above IDEA link, scroll to the bottom and VOTE, and...
- If you want to see overall improvements in LTP, click on the VOTE button, in the first post on page one of this thread!
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NEW IDEA Added to the Original Lifetime Planner BUG & IDEA List
click on....
Add a Pension Lump-Sum Distribution Option
...to have a look, vote and comment!
SUMMARY:
In the Retirement Benefits>Edit Pension dialog, allow the user to select a lump-sum distribution option and rollover to a tax-deferred account. Having this feature allows the user to determine, based upon their own particular situation (their personal financial model in LTP), the best pension distribution option to take (annuity or lump-sum). Currently, LTP allows a user to define and model a pension annuity only.
- If you want to see this IDEA implemented in LTP, click the above IDEA link, scroll to the bottom and VOTE, and...
- If you want to see overall improvements in LTP, click on the VOTE button, in the first post on page one of this thread!
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Everyone of your URLs for bugs are not accessible to the average forum user.
And another general comment. I doubt the usefulness of such threads.
The whole point of an idea posting is to allow people to vote on an individual idea so that Quicken Inc can judge which ones the users want the most. When you combine them like this that is lost. This might as well be a long winded "complaint thread".
Have they fixed any of these bugs?
Have they implemented any of the features?Signature:
This is my website: http://www.quicknperlwiz.com/-1 -
NEW IDEA Added to the Original Lifetime Planner BUG & IDEA List
click on....
Lifetime Planner IDEA: Set Rate of Return by Account Using 3/5 Year Account Return
...to have a look, vote and comment!
SUMMARY:
Allow an option to designate Rate of Return for each LTP included account found in the Investment and Savings assumption. Integrate use of the Investment Portfolio account return data to populate the new account level rate of return assumption.
- If you want to see this IDEA implemented in LTP, click the above IDEA link, scroll to the bottom and VOTE, and...
- If you want to see overall improvements in LTP, click on the VOTE button, in the first post on page one of this thread!
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NEW IDEA Added to the Original Lifetime Planner BUG & IDEA List
click on....
...to have a look, vote and comment!
SUMMARY:
Setting up the living expenses portion of the Lifetime Planner can be challenging. It is category-based, so the default is to get all of a category's expenses included or manually adjust those expenses. There are one-time expenses which could be more easily excluded. For example, my Medical:Doctors category might be unusually large due to an emergency appendectomy. Given that probably won't happen again next year, I'd like to tag the appendectomy-related transactions (and all other transactions which won't apply in the future) with an "ExcludeFromLTP" tag and have them be automatically excluded from the expenses list.- If you want to see this IDEA implemented in LTP, click the above link, scroll to the bottom and VOTE, and...
- If you want to see overall improvements in LTP, click on the VOTE button, in the first post on page one of this thread!
- If you want to see an updated, curated and categorized list of all known LTP Ideas. Have a look at the list in the first post and vote on those that interest you!
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