VeriPlan Personal Financial Planning

DIY financial and retirement planning Excel calculator software

Income in Retirement Planning Calculator Software

VeriPlan software automates your retirement savings and income in retirement planning projections

VeriPlan is comprehensive and integrated income in retirement planning calculator software that helps you to plan your retirement much more easily. VeriPlan’s retirement income planning calculator tools automate the lifetime financial planning process for your retirement income, retirement pensions, retirement annuities, Social Security payments, retirement expense budget, retirement taxes, and tax-advantaged retirement plans.

VeriPlan’s integrated retirement planning tools enable you to set and adjust your intended retirement ages. You can vary the planned retirement ages of either earner and plan to retire simultaneously or in separate years, when each earner reaches his or her planned retirement age. The VeriPlan retirement income calculator also supports user-adjustable real dollar income assumptions for persons who choose to continue to work beyond the normal retirement age.

Automated tax-advantaged retirement account projections

VeriPlan has automated the development of your lifetime projections by incorporating current tax laws and rules associated with tax-advantaged retirement investment incentive programs such as traditional IRA, Roth, 401k, 403b, SEP, Keogh, and other retirement plans. While simultaneously providing powerful “what-if” user retirement planning controls, the VeriPlan’s IRA retirement calculator and 401k retirement calculator functionality hides the complexity of the tax laws that are associated with these various personal retirement plans and employer-sponsored retirement plans.

For example, the VeriPlan IRA retirement calculator has fully automated the projection of your IRA contributions, deductions, asset growth, withdrawals, and taxes, regarding both traditional IRA accounts and Roth IRA accounts. VeriPlan also automatically projects required minimum distributions from traditional tax-advantaged accounts after age 70 and 1/2. If your projections indicate that you would need to take early withdrawals before age 59 and 1/2, the VeriPlan early retirement calculator automatically projects and extracts both ordinary income taxes and any federal and state early withdrawal penalties due, net of your tax basis is these accounts.

This is a sample of the VeriPlan lifetime retirement calculator graphic that shows projected balances in taxable investment accounts, traditional tax-advantaged retirement accounts, and Roth retirement accounts. This graphic, as well as all the others, is automatically developed for every lifetime planning scenario that you develop with VeriPlan:

IRA Retirement Account Assets

Retirement pension and annuity projections

VeriPlan’s integrated retirement calculator with pension and retirement annuity calculator features will automatically track up to 10 pensions and annuities for you and your spouse across your lives. VeriPlan automatically projects for you the duration of your pension payments and annuity payments, whether your payments begin at you projected retirement date or a different age.

VeriPlan’s retirement annuity calculator and retirement pension calculator features automatically project taxes on your pension and annuity payments by integrating them into VeriPlan’s extensive federal, state, and local income tax projection functionality. Furthermore, the VeriPlan retirement spending calculator allows you to vary the purchasing power of your expected pension and annuity assets and payments relative to inflation both before and after payments begin.

VeriPlan’s comprehensive income in retirement planning calculator software automates the analysis of your retirement savings and Social Security income

With the VeriPlan retirement withdrawal calculator, you can adjust your expected ordinary living expense budget in retirement and set the growth rate of your retirement budgeting expenses. You can use VeriPlan’s Expense and Savings Tool to model additional retirement expenses that you might anticipate on a year-by-year basis. You can grow your budget for additional retirement expenses at rates that are below, above, or equal to expected rate of inflation. Furthermore, the integrated VeriPlan retirement investment calculator automatically projects your required annual lifetime investment portfolio asset withdrawal rates for you.

 
VeriPlan Features Highlight:

Income in Retirement Planning Calculator Software for Individuals

Best Income in Retirement Planning Calculator Software for Individuals Excel


The VeriPlan income in retirement planning calculator software for Microsoft Excel automatically forecasts lifetime and retirement income payments. In this retirement income planning graphic example:

  • One spouse intends to retire early at age 60.
  • The other spouse intends to work for an additional two years and earn $35,000 annually to wind down a self-employed business. (See the dark blue area with vertical stripes from age 60 to 62.)
  • They have a small “granny cottage” rental at the back of their property that is expected to net $9,000 in positive cash flow annually and keep pace with inflation through age 100. (See the light green area with backward diagonal lines.)
  • They also have a pension income annuity of $1,500 per month or $18,000 per year that will begin at age 65. This pension income annuity does not have an annual cost of living adjustment (COLA) rider, so the constant purchasing power, real dollar value of this pension income annuity retirement payment is expected to decline as the years go by. This decline in projected purchasing power is reflected in the shrinking height of the pink segment with a brick pattern.
  • Both spouses will receive a Social Security retirement income payment based upon their own earned income work records. VeriPlan supports flexible Social Security retirement benefits calculator and estimator projection features, and those values are displayed the dark green area with forward diagonal lines. In this example, one spouse will wait until age 70 to begin Social Security retirement income payments to maximize their largest Social Security retirement income check. The second spouse will begin social security retirement income benefits at full retirement age of 67. This difference in initial Social Security retirement payment age accounts for the notch from age 67 to 70 in the dark green area.
  • Beginning at age 72, the black dashed line with an upward, humped slope projects their required minimum distributions (RMDs) from their traditional IRA, 401k, and 403b traditional retirement accounts. The projected pre-income tax value of this couple’s required minimum distributions is displayed on the right hand vertical graph axis. RMDs from traditional retirement accounts are not strictly retirement income, but are instead a mechanism that withdraws pre-tax assets from traditional retirement accounts, so that federal, state, and sometimes local income taxes can be assessed on these distributions. Nevertheless, if this additional cash flow would be needed to meet expenses, this couple could spend some of all of the after-tax cash flow related from RMDs. VeriPlan will automatically calculate annual federal, state, and local income tax payment due on RMDs, cover any negative cash flow related to expenses, debts, and taxes, and they automatically reinvest whatever remaining annual projected positive cash flow into taxable investment accounts.
  • Note that for this couple, the lower income years before age 70 might a good opportunity to plan for an annual series of Roth IRA conversions at lower income tax rates. Doing this could bring down their projected RMDs from traditional retirement accounts. VeriPlan’s Roth conversion tax optimization Excel software features helps greatly with this analysis.
 

Concerning your Social Security retirement payments, with VeriPlan’s integrated Social Security retirement calculator, you can set current levels for those entitlements. You can adjust the age at which you would begin to receive Social Security payments, which could differ from the age that you actually stop working. Furthermore, VeriPlan allows you to scale back your Social Security payment expectations, given the significant uncertainty that surrounds the funding viability of the U.S. Social Security system.

Income in Retirement Planning Calculator Software
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