A Brief History of VeriPlan
* Under development since 2003
* Core functionality has been complete and robust since 2006
* First released for software licensing by the general public in 2006
* Annual enhancement releases that update tax and investment information since 2007
* Parameters have always been user updatable, so that upgrade purchases and support contracts are not required
A customer comment from the sidebar: "VeriPlan is a big help. I'm in my mid 50's and have been a diligent saver and passable investor for many years. I am going through a work transition from salaried corporate employee to independent consultant, and my aging parents are needing financial help. Financial planning is particularly important to me and my family now. Thanks for making your product available. I've recommended it to a number of folks and will continue to do so." J.H. in Portland, OR
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A customer comment from the sidebar: "VeriPlan has been a very flexible home financial planning tool. It took me a few hours on a weekend to understand what VeriPlan could do and to enter our financial data. Our family financial affairs were scattered all over, and we lacked a comprehensive picture of what the future might hold for us. I wanted a clear understanding of our projected lifetime and retirement income, expenses, taxes, debts, real estate, financial assets, college investments, retirement investments, and everything else all together." S. L. in Altadena, CA
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A customer comment from the sidebar: "You have done a great job of including the necessary instructions in VeriPlan, located close to where the modeling is happening. The thing I like about the VeriPlan User Guide is that it adds substantial additional commentary that I personally find very valuable. I was hunting for a capable and reasonably priced financial planning package, and VeriPlan is an awesome tool. The more I play around with it, the more valuable I find it. Your free user guide was what made me decide to get VeriPlan." C. A. in North Royalton, OH
Financial Planning Software for Individuals
A customer comment from the sidebar: "One of the stories that VeriPlan tells me is how much of my money could be lost to excessive investment costs. I just switched to some lower cost funds in my 401k. I loved updating VeriPlan with the new cost values just to see the red bar on the Total Assets chart get significantly thinner - quite a shocking difference." M. W. in Tulsa, OK
The Best DIY Retirement Planning Software
A customer comment from the sidebar: "I am extremely impressed with the depth of information that VeriPlan asks for and provides. VeriPlan seems much more detailed than one would expect for the very reasonable price. Although I am not a financial professional, I consider myself more financially educated than the most people of my age (62). I find that VeriPlan's depth to be just what we need for our retirement planning. I am glad I purchased it. Thanks." J. W. in Gainsville, FL
Financial Planning Software for Consumers
A customer comment from the sidebar: "I have been very happy with this software. I will put VeriPlan to work to help optimize our IRA to Roth conversions, while avoiding the IRMAA penalties if we can. We are in an opportunistic window for the next several years. I have been appalled by the lack of professional knowledge available with respect to the tax burden that will fall upon us when RMDs take effect. Most of the information I have found suggests that it isn't a problem. Luckily, this software will be of great benefit to chart our course." J. S. in Louisville, KY
Family Financial Planning Software
A customer comment from the sidebar: "I am a recently retired engineer, and I created a cash flow Excel spreadsheet for 25 years of retirement. So, I fully appreciate the data and potential variances that must be accounted for. Yet, mine is so very simple compared to VeriPlan. I love VeriPlan's concept of total control over inputs and parameters. Veriplan's objectives are very much like mine, but it has many, many more input and control options, and the price is spot on." L. G. in Southbridge, VA
Family Financial Planning Software for Consumers
A customer comment from the sidebar: "I've been using VeriPlan for a few weeks now, and it is everything I was looking for plus a whole lot more of what I didn't even know I needed. By simply switching VeriPlan to a state that does not have a state income tax, I can see how much I could save on traditional IRA distributions in retirement by moving to a state without income taxes. It is a real education in personal finance, and I think just about everyone would benefit from using this tool." T. H. in Silicon Valley CA
Financial Planning and Retirement Software for Home Use
* Streamlined product released in 2012 — more functionality with greater ease-of-use
* A major product release in 2016 significantly enhanced residential real estate, rental real estate, other property, and debt functionality
* The 2018 release included federal tax reforms and added new functionality for future gifts and inheritances, including traditional and Roth beneficiary retirement accounts
* Has been the most sophisticated, low price lifetime financial planning software available for home use since 2006
A customer comment from the sidebar: "VeriPlan's financial projection graphics simply lay out what the future might hold for my family. Also, VeriPlan is a very fast and automated financial investment calculator that allows me to change anything and to test alternate investment decisions rapidly. Its integrated documentation explains clearly how it works, and it also includes a wealth of well-researched personal finance and investment information that has been very helpful." T. F. in Muncie, IN
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A customer comment from the sidebar: "I do most of my own financial modeling, and I like the way VeriPlan generates “what if” scenarios that I like to compare, such as possibly buying a rental property, selling my house and renting, moving social security retirement age payment timing, and pulling out IRA money after taxes. Plus, I like VeriPlan for its automated projection of detailed investment costs. Thanks for making a great product." K. W. in Naperville, IL
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A customer comment from the sidebar: "I am 10 years out from retirement, and I needed to start thinking more seriously about having enough to retire on. I'm following the suggestions of you and others in opting for more hands-on retirement planning. I am also using lower cost index investing. There are too many wealth management companies out there, all ready to charge an arm and leg for what should be straightforward financial planning work." G. B. in Smith Mountain Lake, VA
Financial Planning Software for Individuals
A customer comment from the sidebar: "Larry, Hello again! I've continued to work with VeriPlan, and the more I work with it the more I'm amazed at how much it does. It's an incredible decision support tool for my financial planning. Since I have already built a model of my lifetime finances, it is easy to test new ideas as they come to me. Thanks again." M. W. R. in Austin, TX
Family Financial Planning Software
A customer comment from the sidebar: "I first learned about the zero federal taxes on long term capital gains when under the 25% marginal income tax rate from working with VeriPlan a number of years ago. I’m no longer working but not yet receiving RMD’s or social security so my ordinary income is relatively low. So I’ve been taking full advantage of zero federal capital gains taxes by selling off my high expense ratio mutual funds which have a lot of capital gains built in since I’ve held them a long time and then I reinvest them in index mutual funds which don’t generate as much capital gains distributions. So the education that you and VeriPlan provide has saved me thousands in taxes, not to mention the expenses on high cost mutual funds. Thanks again." M. D. in El Paso, TX
Family Financial Planning Software for Consumers
* Used by the software architect, who is also a California Registered Investment Adviser, to develop comprehensive financial and investment plans for local Pasadena, CA area clients and other clients across the U.S. since 2008
* The 2021 release added a VeriPlan Comparison Tool to improve the ease of comparing financial plans with different data and parameters.
* The 2021 release enhanced the ability to plan much more easily for tax-optimal, year-by-year conversions of traditional retirement accounts into Roth retirement accounts. This improved Roth conversion feature projects specific yearly dollar amounts that could be converted within each federal income tax rate bracket. When this new Roth conversion feature is combined with the new the VeriPlan Comparison Tool, a user can quickly develop an optimal, minimum income tax, lifetime Roth conversion plan.
* The 2023 version of the VeriPlan financial planning Excel worksheet software:
1) enhanced retirement functionality regarding employee and employer contributions up to legal maximums into 401(k), 403(b), 457, Thrift Savings, SIMPLE-IRA, and/or SEP-IRA plans. Directs pre-tax and after-tax contributions into traditional retirement accounts and/or Roth retirement accounts. Similarly, controls lifetime personal and spousal IRA contributions into traditional and/or Roth retirement accounts.
2) added a new Medicare worksheet that projects retirement healthcare costs, including Medicare Parts A, B, C, and D. Added the automatic projection of Medicare IRMAA insurance subsidy reductions during higher retirement income years.
3) expanded the analysis of year-by-year Roth conversions informed by: A) projected federal marginal income tax rates, B) Social Security retirement benefit income taxation, C) Medicare IRMAA premium reductions, and D) asset tax location optimization. It also explains the lifetime economic and investment tradeoffs between traditional and Roth retirement account assets.
4) added a new worksheet that allows you to plan a future move from your current state of residence to another state, while automatically switching taxation.
5) enhanced the projection of up to ten different pension, annuity, and/or deferred compensation retirement payouts, while controlling taxation and directing deposits into taxable, traditional retirement, and/or Roth retirement accounts.
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
6) implemented the SECURE Act 2.0 delay of initial RMD ages to 73 in 2023 and age 75 in 2033 with differentiation of spousal RMDs by age and asset ownership.
7) enhanced the analysis of Social Security income benefits including automatically determining the highest spousal benefit based on the individual’s work record or the spousal benefit, including early claiming reductions. Added Social Security disability benefit functionality for one or both persons who are disabled and are receiving disability benefits at any age.
A customer comment from the sidebar: "I am a recently retired engineer, and I created a cash flow Excel spreadsheet for 25 years of retirement. So, I fully appreciate the data and potential variances that must be accounted for. Yet, mine is so very simple compared to VeriPlan. I love VeriPlan's concept of total control over inputs and parameters. Veriplan's objectives are very much like mine, but it has many, many more input and control options, and the price is spot on." L. G. in Southbridge, VA
Find Home Financial Planning Software
A customer comment from the sidebar: "Thanks for developing a great product. I have looked at Money Tree, Money Guide Pro, and some other FP software, and I have used Right Capital (a good product also, but still $100 per month). Yours is just as robust for a much more affordable price. I also extensively use Quicken for my finances, but the planning tool in it is kind of basic, so VeriPlan will complement Quicken very well." E. Z. in San Mateo, CA
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A customer comment from the sidebar: "I spent parts of the past several days entering data into the VeriPlan workbook while digesting as much of the methodology as possible. My takeaway is that VeriPlan is an extraordinary tool, especially in its ability to generate projections based on detailed alternate scenarios. During the learning process, I also found it to be a wonderful financial education in its own right." S. N. in Sammamish, WA
Financial Planning Software for Individuals
A customer comment from the sidebar: "Previously I used some consumer retirement planners like New Retirement. What they offer is a projection of your financial situation that is wildly generalized. A generalized projection is probably better than having no projection at all and could very well be used for rough, long-term planning. However, for fine grained planning, such a system is wholly inadequate. VeriPlan is vastly superior in comprehensiveness and flexibility." T. D. in Edison, NJ
Family Financial Planning Software
A customer comment from the sidebar: "I purchased VeriPlan for the Roth conversion features. I enjoy VeriPlan and appreciate the thoroughness of the design and excellent commentary. I now work for (financial company name redacted) since retiring from (computer company name redacted) in a Retirement and Workplace Planning role. The accuracy, conciseness, and utility of the information presented by VeriPlan is great." M. S. in White Plains, NY
Family Financial Planning Software for Home Use
A customer comment from the sidebar: "I've been using VeriPlan for a few weeks now, and it is everything I was looking for plus a whole lot more of what I didn't even know I needed. By simply switching VeriPlan to a state that does not have a state income tax, I can see how much I could save on traditional IRA distributions in retirement by moving to a state without income taxes. It is a real education in personal finance, and I think just about everyone would benefit from using this tool. I am going to tell everyone I know about VeriPlan. Thank you very much for creating it. Your web sites are great, too." T. H. in Silicon Valley CA
Financial Planning and Retirement Software for Home Use
A customer comment from the sidebar: "I thought I would let you know that VeriPlan was the primary decision support tool in my decision to retire early, which was about 4 years ago now. And it has worked out really well. Since then I got married, and we have traveled to 10 countries -- some on mission trips. I had used the lifetime planners in Microsoft Money and Quicken but they were not robust enough to make a major decision with. In retrospect they are toys compared to VeriPlan. So VeriPlan has been a very big help to me. Also, I recently read your Lowest Cost Mutual Funds book, which was great. It brought a few things to my attention that I need to work on." Email update from T. H. in Silicon Valley
Family Financial Planning and Retirement Software
8) A new Retirement Planning worksheet discusses: A) participation in IRAs and in Employer Defined Contribution Plans, B) health care expenses in retirement, C) how each of the 50 states and DC tax Social Security and traditional retirement withdrawals, D) the longevity challenge in lifetime financial planning, E) safe investment portfolio withdrawals to fund retirement, F) the origin of the 4% retirement withdrawals rule-of-thumb, G) sequence of returns risk in retirement portfolios, and H) portfolio growth potential during retirement.
9) A new Optimizations worksheet discusses: A) lifelong tax savings from investment portfolio asset tax location, B) early retirement health care expenses and ACA tax subsidies before Medicare, C) Social Security retirement claiming age considerations, D) spending traditional retirement assets, while delaying Social Security payments, E) compound growth factors, F) tax-exempt municipal securities and VeriPlan’s return assumptions, and G) VeriPlan’s design and discounted cash flow modeling.
The 2024 version of the VeriPlan DIY home financial planning spreadsheet software:
1) added the ability to plan for over age 70 Qualified Charitable Distributions (QCDs) from traditional IRA accounts
2) integrated a new “painless” Monte Carlo investment performance variance facility that allows you to develop projections with long-term historical investment performance parameters that systematically vary below or above the compounded returns of the centerline projection model. The user can select any historical return integer percentile from 1 (worst) to 99 (best) with 50 as the centerline index.
3) allowed for the apportionment of your projected bond returns between US Treasury and AAA bonds.
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