Where in Life Planner do I enter the distributions from my retirement accounts IRA and Roth IRAs?

BvW

Where in Life Planner do I enter the distributions from my retirement accounts IRA and Roth IRAs? Does this fall under other income?

Chris_QPW

You don't.  One of the limitations of the Lifetime planner is that it decides when, how much, and which accounts to take money out to pay for expenses.  You have no control over that.

Sherlock

We do not enter our retirement account distributions in the Lifetime Planner.  The account balances should be provided under Investments.  Quicken uses our birth date to estimate the RMDs. 

Note: The Lifetime Planner doesn't know how to handle inherited traditional IRAs with RMDs.

mshiggins

Curious. How do folks who are already taking RMDs that are for amounts different than Quicken's calculated distribution amount handle the difference? 

Rocket J Squirrel

mshiggins said:

Curious. How do folks who are already taking RMDs that are for amounts different than Quicken's calculated distribution amount handle the difference? 

I ignore it. Just another grain of salt with which to take LTP's results.

garysmith87

And Quicken Windows Lifetime Planner doesn't calculate the RMD start age correctly for those of us who qualify under the new rules...where the RMD start age is 72 instead of age 70 1/2.  

OY!

Rocket J Squirrel

garysmith87 said:

Quicken Windows Lifetime Planner doesn't calculate the RMD start age correctly for those of us who qualify under the new rules...where the RMD start age is 72 instead of age 70 1/2. 

True. Go here to vote to get this up-to-date:

https://community.quicken.com/discussion/7865450/update-lifetime-planner-to-reflect-rmd-changes-to-iras-due-to-secure-act