Lifetime Planner Changes

spaman

I upgraded from 2017 to Quicken 2020. My Lifetime Planner figures are now much higher in the outer years. I did not change anything in my plan other than just upgrading. Did something change in the way lifetime planner calculates future projections?:

Scooterlam

I searched in the release notes, QW 2017 to present, and could only find these (using Lifetime Planner keyword search):

Fixed: An issue in which Lifetime Planner was not calculating spouse Required Minimum Distributions properly.

Fixed: Incorrect IRA contribution limits in the Lifetime Planner.

Improved: Updated Required Minimum Distribution (RMD) calculation and IRA contribution limits in the Lifetime Planner.

Fixed: An issue with printing the Lifetime Planner report.

Fixed: An issue in which Lifetime Planner was not calculating spouse Required Minimum Distributions properly.

mshiggins

By any chance is the setting for Show Amounts in Today's/Future Value different in your QW2017 and QW2020?

Scooterlam

Off the top of my head, there were some changes to RMDs and contribution rates to tax deferred accounts.  RMD change bumped up my ending balance slightly - a few percent maybe? 

For perspective, how high us "much higher"?  50% , 25% , 5%, for example? 

My first step would be to make sure that all your planning assumptions are what you set in 2017.  It's also a good time to review them for beginning of year!  

Scooterlam

I searched in the release notes, QW 2017 to present, and could only find these (using Lifetime Planner keyword search):

Fixed: An issue in which Lifetime Planner was not calculating spouse Required Minimum Distributions properly.

Fixed: Incorrect IRA contribution limits in the Lifetime Planner.

Improved: Updated Required Minimum Distribution (RMD) calculation and IRA contribution limits in the Lifetime Planner.

Fixed: An issue with printing the Lifetime Planner report.

Fixed: An issue in which Lifetime Planner was not calculating spouse Required Minimum Distributions properly.

spaman

thanks so much for your help

Scooterlam

For others who might have this issue when they upgrade from 2017, could you share what you found to be the discrepancy?

spaman

i had a 10% total increase over 35 years or so.