Lifetime Planner 2017 Premier r4 "What if" changes cannot possbly be right on Win10 PC



  • mistertheplaguemistertheplague Member ✭✭
    edited March 2017

    The RMD rates for 401K/IRA accounts are too high in Quicken 2015, and I assume 2017.  This causes the planner to remove money, and pay taxes, much sooner than actually required.

    I'm not sure if the Lifetime Planner has been updated in years.


    I've also worked with a CFP for years. He seems to think my PFM/planner addiction is amusing. In some ways, it makes his job a lot easier. In other ways, it probably makes it harder. Anyway:

    The Flexible Retirement Planner is free:

    (FRP's developer also provides a great free portfolio rebalancing spreadsheet that's designed to be populated with data from Quicken's Portfolio Value and Cost Basis report: Portfolio Asset Allocation Tool. I've recommended it to other Q users for whom Quicken's rebalancing tool doesn't quite cut it). 

    OnTrajectory (which I'm a beta tester for) is $3 per month or $30 per year. OT offers a limited free trial, and you can switch from a monthly to yearly subscription if you like the service:

    OT's killer concept is the ability to chart your actual "trajectory" against the one initially modeled using your inputs. Every month or so, I plug in the dollar total from my bank and investments accounts from Quicken's  Account Balances report into OT and the graph updates to show where I am relative to my original projection.

    Not only is it (a little too much) fun, it's a great teaching tool; over time, you learn a lot about your assumptions and how your saving and spending choices affect your financial position.

    (As an aside, I also mentioned OT in the data lockout thread as an example of subscription fintech I wholeheartedly support. The OT guys are innovative, transparent, and very responsive, plus they're constantly adding features. And even if I cancel, I can export all of my financial data in CSV format).

    The Pralana Retirement Calculator Gold edition is $99:

    Given the price, I only offer a qualified recommendation of Pralana, for a few reasons: 
    1. The program's aforementioned demand for asset class returns going back so far means you have to a.) give up on the program doing any historical or MC modeling or b.) you use asset class data that does go back to 1928 like Treasuries and S&P 500, which probably don't correlate with your actual portfolio. I've corresponded with the developer about this frustrating quirk, and though he's polite and responsive, he's quite unwilling to reprogram Pralana to make it less picky.
    2. The aforementioned modeling of home equity in future dollars only. This is especially jarring since views in today's dollars are available everywhere else in the program.
    3. Much of what Pralana really excels at -- calculating, say, the year-to-year effect of a Roth conversion in 2036 -- can be modeled in OT. 
    Though not all of it. As I indicated upthread, Pralana will map out a thoroughly comprehensive version of your future financial life in remarkably microscopic detail. And it does support the broadest array of retirement spending models: flex spending, consumption smoothing, etc. It even offers recommendations on life insurance coverage. 
  • Pat in KCPat in KC Member
    edited March 2017
    Pat in KC said:

    Thanks so much, this info is disturbing,,,, been using Quicken for 20 years and only have 10 left till retirement, maybe. I could create a spreadsheet to project future vales in savings and retirement accounts then use the other projections from Quicken provided they are accurate. Are you aware of any other issues/bugs related to the planner and/or what if sections of Quicken?

    Isolation in progress: no changes EXCEPT - increasing 401(k) in $4k increments up to $16k results $0 withdrawals prior to retirement. Increasing 401(k) in $4k increments to $20k per yr results no withdrawals from 2017-2020 but withdrawals begin in the 2021 to 2025. I then removed all IRA contributions, resulted in no withdrawals 2017-2021 and withdrawals beginning in 2022 to 2025. I gained 1 yr by removing 10 years of IRA contributions. Is something is maxing out?
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