With new tax laws on the horizon, we are already preparing an updated version of The Complete Retirement Planner for 2018. Along with the tax changes, the 2018 planner will also contain all other updates made during 2017. Depending on when you purchased your planner during the year, you will benefit from some, or all, of the following improvements that were made along the way:
- Additional itemized expenses were added/expanded, with the ability to add a couple of your own.
- You can now enter 4 One Time events, instead of only 2.
- Worksheets were added on the income page to help you deduct pre-tax items withheld from wage income (so the amount you actually bring home is individualized, and more accurate than using total gross wages), and also to total multiple income streams. Click a button on the worksheet, and all the yearly totals are added into the planner for you!
- Roth IRA contributions were separated from cash savings to better track their growth. An exception process for entering "back door" Roth IRA conversions is also outlined.
- Cash/IRA amounts used for expenses was moved to the Results page to make it easier to see how much, and when, they are used vs. retirement savings withdrawals.
- A Standard Deduction for Federal taxes was added (it will be more important with the new laws), which will automatically be applied based on your tax filing status if the amount is more than your itemized deductions. There is a new column in the Tax section of the Results page to show when the Standard Deduction is applied.
- There were also a few formula updates (minor) to correct some bugs, and some cosmetic changes.
The best news................ to say Thank You for your trust, and support, during our first year offering this planner, the 2018 Complete Retirement Planner will be free of charge for all existing customers! We will contact you when the new version is ready, and provide details on how to download the 2018 planner. (In the future, the planner will be updated annually, and the updated version will be available for the nominal cost of $8.99.)
Thank you for a great year, and for all of your important feedback!
If you've enjoyed using The Complete Retirement Planner, please recommend it to your friends and associates to help them with planning for retirement as well!