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Пікірлер
@Kralnor 3 күн бұрын
Pretty useless test. You're cherry picking a single year.
@damienbates 23 күн бұрын
My state pension (AZ) offers a lump sum but it appears to not include my employer contributions and any growth. That’s with 20+ years and 100% vested. Yet the death payout (which is double the amount) seems to match what the lump sum should be. It’s very confusing. I’d consider taking the lump sum for the death benefit payout but not for the pension lump sum payout. To beat the annual pension benefit I’d have to get a guaranteed 12% every year. It has no COLA but expecting 12% returns every year would be ridiculous. The lump sum benefit just makes no sense.
@explorergal91 29 күн бұрын
This is really helpful, thank you for adding this
@explorergal91 29 күн бұрын
Fantastic option thank you for adding this
@scottrichardson3961 Ай бұрын
Fear mongering...cuts to ss won't happen.
@RetirementBudgetCalculator Ай бұрын
Did you watch the video? This cut is announced every year on your social security statement.
@DAVID-xe9yh Ай бұрын
This answered my question about when I can start putting in the catch up contributions. Thank you!
@DavidFarley-ex6wr 2 ай бұрын
You’re definitely credible, ignore the negativity. Good example that showed a lot of scenarios. Didn’t have the one time expenses like new/ used car purchase, big home repairs, etc but us viewers need to use our brains too. Thanks!
@bellafogelman5505 2 ай бұрын
Did not understand how to use Asset Conversion
@davidfolts5893 2 ай бұрын
Thanks for your great content and your strong desire to always do the right thing for your clients and viewership. Wisdom is indeed a blessing.
@uzieditzzzzz 2 ай бұрын
I really thought this was for the DIY app 😭
@GNolan2005 2 ай бұрын
Very unrealistic example. Come down to real people.
@RetirementBudgetCalculator 2 ай бұрын
Happy to do another video. What numbers would you like for me to use?
@kmdesign355 3 ай бұрын
Does this calculator support SEPP 72(t) withdrawals (five years of Substantially Equal Periodic Payments)? I'm two years into a 72(t), so not only do I need support for no-penalty early withdrawals (I'm 57), I need the tool to support back-dating (not just "today, forward" like most other tools), as I started the 72(t) in February of last year (2023). Look forward to following the development of this tool! Thanks.
@RetirementBudgetCalculator 3 ай бұрын
No, the Retirement Budget Calculator does not currently offer the functionality you are looking for.
@ralphsquire6047 3 ай бұрын
Does the retirement budget calculator calculate how much you should do in Roth conversions each year?
@RetirementBudgetCalculator 3 ай бұрын
The Retirement Budget Calculator includes a Roth conversion module that allows you to run scenarios to evaluate different strategies. Paired with the tax module, you can identify specific years when it may make sense to consider a Roth conversion. By using these two tools together, you can determine the potential amount to convert. The Retirement Budget Calculator does not make recommendations but rather empowers you to make more informed decisions based on your unique financial situation.
@jpravago 3 ай бұрын
Does this connect to your brokerage account to update your assets or do you have to input it manually? How often should you update your asset's current values?
@RetirementBudgetCalculator 3 ай бұрын
It does not connect to your brokerage account. I personally like to update my assets and liabilities once per month and I update my spending once per year.
@rubbermallett4396 3 ай бұрын
Thank you for all that you do. You are a blessing.
@jasonbroom7147 3 ай бұрын
"I want to democratize retirement..." Shows earnings and home value reflective of the top 3 percent of all Americans. Completely out of touch with what retirement looks like for people outside of select areas of CA, NY and other outrageously expensive locales.
@TitleWaive1 3 ай бұрын
You know your stuff, but you need to relate to the people that don't have $3M+ in assets for retirement. I believe the median saved for 55-64 is $185,000. A far cry from even a million.
@PH-dm8ew 3 ай бұрын
so i cannot figure out why social security income is not included in my "income" in the basic optimizer screen. Any suggestions?
@7SideWays 3 ай бұрын
Does this have other asset choices available like rental real estate? Some of our NW is only about 6% in the 'market'. Thank you.
@RetirementBudgetCalculator 3 ай бұрын
Yes you can enter real estate as well as the income associated with rentals.
@OchoVerde 3 ай бұрын
This is good stuff! We're looking at these decisions right now and figuring out the best path.
@RetirementBudgetCalculator 3 ай бұрын
You are going to love it.
@JohnDoe-ew3xt 3 ай бұрын
$3+mil net worth?? maybe think about another video that the other 96.3% of us can relate too.........
@RetirementBudgetCalculator 3 ай бұрын
Good point. What kind of numbers do you think I should use?
@JohnDoe-ew3xt 3 ай бұрын
@@RetirementBudgetCalculator from all of the "research" I have been doing, I think I'm doing a bit better than most, but still nowhere close to the numbers you are using. maybe because of my modest beginnings, with $3mil+ I wouldn't be watching ANY youtube retirement videos... even with what I do have, I stopped watching your video when you got to the over $3mil net worth part. I simply can't relate. again, I think I'm a bit above average with $720k in 401ks, $150k cash. I do not own a home, but also have zero debt. will also have a modest pension of +/- $2,600 per month, and estimating (from ss website) +/-$3,200 ss for me and my wife together. wife has no other accounts to speak of. I plan to retire in 3 years at 62.5 yrs of age, (hopefully with a bit more than I have today) and try to use the cash for downpayment on fixed mortgage. even still, I think MOST are more like $500k in 401's, and SS. (if that) you will probably get more views in this range, as that's where "most" of us are. if I want to learn about the numbers you're talking about to figure out if I want my second retirement home to be in palm beach or aspen, I will simply look up some robin leach videos.... I mean, good grief! most of us are here looking for help and advice, not fantasy vidoes..... hope you appreciate the constructive criticism. maybe I will watch one of your more helpful videos in the future, but if I had $3mil dollars, I wouldn't need your advice or help...... thanks!
@JohnDoe-ew3xt 3 ай бұрын
@@RetirementBudgetCalculator google, are you serious??? I take the time to write this guy a 150 word response to try to help him improve his videos, and you won't post it??? 🤦♂
@JohnDoe-ew3xt 3 ай бұрын
@@RetirementBudgetCalculator anyway, google won't let me help you..... the gist was if you want people to watch your videos, work with numbers that MOST of us would use... if I had $3mil+, I wouldn't be watching youtube videos for help/advice. I would be deciding if I by a second retirement home outside of aspen, or a 60ft yacht in the florida keys....
@JohnDoe-ew3xt 3 ай бұрын
@@RetirementBudgetCalculator how about a couple trying to retire halfway early at 62, $750k 401ks, and SS. no debt and will have a modest pension as well. and I think this is above average. but most people looking on here for help/advice for retirement can't begin relate to being a multi-millionaire......
@davidfolts5893 3 ай бұрын
Thanks for your outstanding content and contributions to educating folks to improve their financial lives!
@LB-ty6ks 3 ай бұрын
Thank you. I'm always looking for the "Shocking Truth".
@hijackedmemes888 4 ай бұрын
I have a feeling that very soon, the i-robot movie will be removed from every platform online.
@Smitty300 4 ай бұрын
In only a couple generations, people will be astounded that we used to operate motor vehicles manually.
@jkimo11 4 ай бұрын
Next stop - find a Tesla showroom and take a test ride using Teslas FSD (full self driving).
@michaelkillilea2592 4 ай бұрын
Been looking for something like this for years! It is so easy to formulate and these videos on your You Tube videos are excellent!
@RetirementBudgetCalculator 4 ай бұрын
@@michaelkillilea2592 thank you
@stewartlafave9797 5 ай бұрын
Paying the mortgage down over 3-4 years would allow tax bracket management. Large sudden IRA withdrawals are seldom a good answer. You wouldn’t convert $400K to a Roth in one year.
@rhondavigil795 5 ай бұрын
Your mortgage should be paid before retirement not with retirement funds. It isn't a math question it is a peace of mind question. Living a debt free and mortgage free lifestyle is freedom.
@donnymac575 5 ай бұрын
I'd rather keep my money and have a small mortgage, with a low interest rate.
@rhondavigil795 5 ай бұрын
@@donnymac575 you can keep your money when you have no payments.
@jintz2 5 ай бұрын
Great video! Short and to the point, no fluff.
@Carolina-w1d 5 ай бұрын
Thanks for the reassurance that we need to stay the course.
@pfa1963 5 ай бұрын
Thanks, these are great updates
@marantz747 5 ай бұрын
This is a great thing
@rcooper4164 5 ай бұрын
Awesome 👏 Thanks Jason!!!
@cordeg6724 5 ай бұрын
what if your income does NOT have a shortfall relative to your expenses -- can the calculator tell you how much you can elect to withdraw from tax-deferred accounts to reduce future RMDs while staying within specific tax brackets? Do you just have to artificially increase your expenses each year to force a withdrawal and then check the tax display to see if you exceed the bracket and do this year by year?
@RetirementBudgetCalculator 5 ай бұрын
The Retirement Budget Calculator determines your portfolio withdrawals based on your expenses. To ensure a specific withdrawal is taken, simply create an expense and set your IRA as the first option in the withdrawal order. Then you can use the tax section to determine your tax bracket.
@rcooper4164 5 ай бұрын
Thank you, Jason! God give you the skills and talents to make a big difference in the life of retirees who can’t afford to hire a financial planner. May God continue to bless you and your family 🙏🙏🙏
@davidfolts5893 6 ай бұрын
Thanks for the interesting video, Retirement Budget Calculator! I have followed you for a long time through your early days of podcasting. I always enjoyed your friendliness, prayer, and jokes. The tech evolution is exciting to watch.
@davidjensen8090 6 ай бұрын
Where is Future View? I asked Finn and he referenced old screen tabs (from prior version) that are no longer applicable in the Pro version.
@RetirementBudgetCalculator 6 ай бұрын
@@davidjensen8090 retirement optimizer.
@kevinbeardsley3618 6 ай бұрын
I like this little video because it shows how you click thru the model and ask/answer questions. I have the new pro version....and I am clicking thru......and I have not used Finn yet....and I am able to ask/answer questions.....but a little video like this with the Pro version would be nice. Specifically how create/save base model and the use the scenario and save other models would be helpful. I think that I got a little ahead of myself and did not work hard enough on my base models before doing scenario things.......and things got confusing. This video helped me with the pro version....now I am going back and doing things better. Seems like in your older model you make changes and click on "Future View" to see the results. With the Pro....you click on "Retirement Optimizer"....and that is not crystal clear...and then you need to make sure that the "Strategy eyeballs" are turned off to see the conservative strategy estimates of the model (which is very helpful).That is not crystal clear. I think that I am now going to go back and ask Finn what to do. Just some feedback! OK...Finn is very helpful....I still think that a short video like this ...only using Pro....would be helpful.
@robertoswald3926 6 ай бұрын
Just tried this, but my Assets & Liabilities info did not transfer. Hope I did not lose my historical data. I did try all the AI suggestion offered. Okay, I did not have the correct model setected. :(
@davidjensen8090 6 ай бұрын
Is plaid account integratio n planned for a future release?
@kevinbeardsley3618 6 ай бұрын
I got an error triangle in Timeline making it impossible for me to go to Dashboard, Assets and Liabilities, etc.. Also, when I click on Community and I enter my account email and pass it says "wrong email and password
@kevinbeardsley3618 6 ай бұрын
by the way I am on a new iMac with latest El Capitan software and running Safari browser
@RetirementBudgetCalculator 6 ай бұрын
@kevinbeardsley3618 I'm unable to duplicate this reported error and we have not had anyone else share this error. Can you email support with screenshots of what you are seeing?
@kevinbeardsley3618 6 ай бұрын
@@RetirementBudgetCalculator no problem
@joekeitel4704 6 ай бұрын
Thank You! These updates look awesome. I can't wait to get in and update my plan and see the results. This helps to give me the confidence to retire earlier instead of continuing to work when I already have enough to retire on.
@scottmuessig1819 6 ай бұрын
I'm not able to sign into my account? And the website says it doesn't recognize my email?? What happened?
@RetirementBudgetCalculator 6 ай бұрын
Is this now resolved?
@scottmuessig1819 6 ай бұрын
@@RetirementBudgetCalculator all fixed a few days ago, thanks!
@rcooper4164 6 ай бұрын
Wow wow 🤩 thank you so much Jason for the upstates!!! You’re the Best!!! God bless you a thousand fold for sharing your great work to us who retiring and can’t afford to hire a professional/certified financial adviser.
@RetirementBudgetCalculator 6 ай бұрын
Thank you 😀
@wkreps 6 ай бұрын
Numbers are not adding up correctly. $1250 weekly income multiplied by 52 is $65,000 but is showing $66,250 income total (multiplied by 53). I see this everywhere in weekly and biweekly numbers. Is there a support email for v4.0?
@RetirementBudgetCalculator 6 ай бұрын
@wkreps if a weekly income starts on Monday January 1, 2024 there are 53 mondays (and Tuesdays) in 2024. The old RBC did not handle this level of specificity. 2024 is a leap year so there are 366 days. The calculations in the RBC are correct.
@wkreps 6 ай бұрын
@@RetirementBudgetCalculator is it the same with biweekly calculations?
@RetirementBudgetCalculator 6 ай бұрын
@@wkreps If you create a bi-weekly income that starts on January 1, 2024 the calculator will create 27 pay periods. It is probably unlikely that your first pay period of the year was January 1st 2024. If you were to make the first pay period January 8th, 2024 the calculator would assume 26 pay periods.
@PersonalMoneyTeam 6 ай бұрын
My folks retired 5 years ago with about $500K in savings. Their monthly income is about $5K (SS and a small pension). They take 2-3 nice vacations every year, drive a nice car, etc. They have never taken a penny from their savings! So essentially their savings is a BIG emergency fund that will keep growing every year. How do they do it! Simple, they have ZERO DEBT! With no mortgage, no car payment, no credit cards, etc. so they have an amazing retirement! BTW, their investments generate about $30k/yr. in dividends which they reinvest! They could start taking their dividends in cash any time they like to increase their monthly income even more!!!
@tomreitz4628 7 ай бұрын
I'd like to know the income types displayed in the Gross Income column of the example. Maximum social security for two does not add up to $84k+ per year. These people are not working part-time until their late 70s, are they? Does this column reflect withdrawals from retirement accounts in addition to traditional income?
@karenruhlig3329 7 ай бұрын
suggestions on how to handle separate accounts (IRA, etc.) when we file taxes together. How can we get 2 future view spreadsheets.
@Beadgcfb 7 ай бұрын
Videos like this are helping us prepare for retirement in the 3-4 yrs leading up to it.