How you coming with your 'still working' data input? I'm about to give up trying to model the few years I have left of pre-retirement working. I can't figure out how to allocate properly to retirement accounts or input company matching. It's too much trouble for me to force RPM into this role.Not sure if there is a separate help thread or I should ask in a separate thread but I'm having trouble making the spreadsheet spit out believable results. For one thing when it estimates my taxes for this year around K262, my AGI is way higher than expected:
- because I'm modeling more years of contribution, it's using my current income to calculate my AGI, not taking into account the fact that I am contributing to a 401(k) and my wife to a pre-tax spousal IRA. I had expected IRA contributions to be removed from my AGI (an not capped at tIRA levels since it looks like 401(k)s are modeled as IRAs)
- it seems to assume the growth in my taxable account is taxable this year, but I invest in low-dividends ETFs like VTI, so I get very little taxable income (and most of it qualified) but it looks like L263 assumes the growth in the taxable account is taxable now?
so the AGI shown in L270 is on the order of 50% too high
I'm obviously not understanding something about how to input my data into the model
I decided to use my own spreadsheets and Pralana Bronze to predict where everything will be when I retire, then told RPM I was retiring this year using my forecast data. That turned out very well for me after I learned how everything worked (several hours this week). No errors, Roth conversion looked good. I'm still fine tuning the taxes, but that's low on my priority list at the moment. Bottom line: I'll keep updating RPM every year with forecast data for practice until I'm ready for the real launch in 20xx. It is a monster of an Excel achievement and I like using it
Statistics: Posted by skipper — Fri Jan 26, 2024 12:13 am — Replies 1755 — Views 519939