RMD in Lifetime Planner?

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DLS
DLS Member ✭✭
edited March 2021 in Budgeting and Planning Tools (Windows)
How is the RMD handled in the retirement planner?
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  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    Answer ✓
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    Not particularly well.
    To see what happens, click on a bar in the bar chart. That will show taxable and tax-deferred withdrawals.
    As far as I can tell, the planner has not yet been updated to change the start of RMDs from 70 ½ to 72.
    Also, inherited IRAs with RMDs starting before the beneficiary's own RMD start are not properly accounted for.

    Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    Answer ✓
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    You can read up on how Quicken's LTP calculates cash flow which also takes into account the RMD at https://help.quicken.com/pages/viewpage.action?pageId=3216790.
    You can also do a search on the Support Help page of Quicken.com (https://www.quicken.com/support#windows) for required minimum distribution. This will bring up several other articles regarding how LTP accounts for RMDs in the calculations.
    As a final comment:  Quicken still assumes that RMDs start at age 70.5, instead of the current law of starting at age 72.  Since the IRS tables for the new RMD start age just recently got updated I hope that Quicken's LTP will get updated soon.  You can read more about this at
    Update Lifetime Planner to Reflect Changes to IRA Handling due to SECURE Act.  This product improvement idea is currently under consideration.  Please vote for it by clicking on the button that is shown directly beneath the first post of that thread...it looks like this. 
    Also, if you want to be kept updated on this proposed product improvement idea, you can bookmark it by clicking on the star to the right of the thread title.

    (Quicken Classic Premier Subscription: R55.26 on Windows 11)

Answers

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    Answer ✓
    Options
    Not particularly well.
    To see what happens, click on a bar in the bar chart. That will show taxable and tax-deferred withdrawals.
    As far as I can tell, the planner has not yet been updated to change the start of RMDs from 70 ½ to 72.
    Also, inherited IRAs with RMDs starting before the beneficiary's own RMD start are not properly accounted for.

    Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    Answer ✓
    Options
    You can read up on how Quicken's LTP calculates cash flow which also takes into account the RMD at https://help.quicken.com/pages/viewpage.action?pageId=3216790.
    You can also do a search on the Support Help page of Quicken.com (https://www.quicken.com/support#windows) for required minimum distribution. This will bring up several other articles regarding how LTP accounts for RMDs in the calculations.
    As a final comment:  Quicken still assumes that RMDs start at age 70.5, instead of the current law of starting at age 72.  Since the IRS tables for the new RMD start age just recently got updated I hope that Quicken's LTP will get updated soon.  You can read more about this at
    Update Lifetime Planner to Reflect Changes to IRA Handling due to SECURE Act.  This product improvement idea is currently under consideration.  Please vote for it by clicking on the button that is shown directly beneath the first post of that thread...it looks like this. 
    Also, if you want to be kept updated on this proposed product improvement idea, you can bookmark it by clicking on the star to the right of the thread title.

    (Quicken Classic Premier Subscription: R55.26 on Windows 11)

This discussion has been closed.

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