Funded/Years of Life
0
0
LIFETIME TAX RATE
0%
0%
TOTAL TAX
$0
$0
TOTAL Spendable
$0
$0
FINAL WEALTH
$0
$0
Saved Scenarios
How to Use
π Some pithy insights will appear here. Right now they are not implemented. Insights shall
include observations like: which strategy seems most effective, what the net withdrawal rate will be for the given After-Tax Spend
Where is the Code
This might be useful to know: you can run this locally (download the *.html and *.js and *.css files from GitHub) https://github.com/nightskyguy/retirement_assets. The charts require the ability to load this file remotely: cdn.jsdelivr.net/npm/chart.js.And you can also take a look at the source, make comments, or even open a pull request to propose changes. Just follow the link above. You can directly run the code from GitHub: nightskyguy.github.io/retirement_assets/retirement_optimizer.html
Other Tools
There is a standalone tool to determine what IRA balances (with RMDs) cause IRMAA taxation: nightskyguy.github.io/retirement_assets/irmaa_and_rmds.htmlIf you're wondering whether you're being tracked, the answer is no. There is no logic (currently) to do any kind of tracking or telemetry. You can read the code if you're skeptical. And by the way, you SHOULD be skeptical. Sooner or later I am going to want to know how many users are using it and from (approximately) where. Mostly for self edification, but also to know if, for example, lots of Idaho users are loading it... it would be a clue to add state taxes for Idaho.
Change Log
For the most details, please consult the README.md.- 7g Found one source of over-withdrawal: the tax rate on capital gains should be proportional to the basis. Another problem was that the pension was not included in the total so it over-withdrew to make up for the excluded pension. Another error was that the cash gains were not included (interest and dividends) in the initial withdrawal, but were added at the end - above and beyond what was actually needed. BUGUnfortunately, there are still scenarios where under-withdrawal occurs (though not over-withdrawals anymore!). The mass of columns have been tamed somewhat with live selectable options, including suppressing columns that have only zeros, grouping by association.
- 7f Fixed HTML cautions. Fixed error in calculating what to do with surplus. It was putting some surplus into Roth even though no IRA withdrawals had occurred. CapitalGains calculation was wrong, and the tax burden for Brokerage withdrawals was also incorrect. However it is still significantly over-withdrawing.
- 7e Fixed more bugs, added much more information (See the README.md). And added a new standalone tool.
- 7d Updated taxation calculations to use a more thorough calculator.
- 7c Prior update(s) broke the save/load functionality due to case changes. Adjust IRMAA calculations to account for different growth rate of the tax from the CPI rate. IRMAA is tied to Medicare which annually increases by 5.6% over the last 20 years. The rate is encoded in the TAXdata table - not user adjustable. Began UI change to move the top tabs into a new location: Documentation.
- 7b More state rates. Fixed most calculations. Minor UI changes. Changed the defaults to something "more common" - . See the README.md.
- 7a Now has various state rates. Fixed most calculations. See README.md for details.
- 6v Implemented Save/Load/Export/Delete Scenarios.
- 6u Implemented SS Fail. More UI fixes. Moved all strategy items to the top.
- 6t Solved a math issue causing NaN to occur. Cleaned up the visuals.
- 6s Some more fancy highlighting of the tables. Fixed broken strategy changer. Tests moved into separate file, too.
- 6r Moved the heavy text (top drawers) into a separate file.
- 6q Beautifications and hover notes. More self tests with an indicator on screen if they fail. Started the Social Security "meltdown" implementation. Added (empty) Insights tab.
- 6p Corrected instructions for Single filer usage. Fixed error in brokerage tracking. Added brokerage dividend rate. Dividends automatically accrue to Cash.
- 6n Calculation fixes. WARNING: detailed calculations not done - but current calcs are accurate.
- 6m More self tests, some rework.
- 6k Reworked tax brackets for sanity ease of update. Added more instructions.
- 6j Move style sheet out for readability.
- 6i Remove the Recalculate and Optimize buttons. Use the similarly named tabs as the buttons.
- 5hp Integrated Federal SS "Tax Torpedo" logic, California HSA add-backs, and IRMAA cliff surcharges. This logic is present, but not yet being used. The older logic is "close".
- 5h Added change log and instructions
- 4g Do rate limit lookups based on inflation. Add suggested values.
- 4f Use cpi% to adjust taxation (brackets)
- 4e Use calculated birthyear for correct RMDs