Each year we strive to enhance the capabilities of TCRP to maintain its leadership position in personal financial planning tools and to best fit the needs of our present and future customers. We are pleased to announce that The 2021 Complete Retirement Planner lives up to that goal. As always, this annual update includes the most current tax laws (including new I.R.S. divisors for RMD's), retirement account contribution limits, and Medicare costs, as well as several significant improvements that easily make this our most advanced planning tool to date:
• If married, Social Security spousal benefits now calculate automatically, with the planner using the greater of your own benefit or the spousal benefit.
• If married, a life expectancy age may be entered for either spouse, with Social Security survivor benefits and appropriate taxes calculating automatically. Easily see the long-term financial effect of losing a spouse.
• In any year when income is greater than expenses, you can specify how much of the excess income should be saved and applied to future expenses. No more "lost" income! The planner defaults to 25% (low risk), but you can enter up to 75% (aggressive) to save.
• Entries for non-retirement savings and investment interest/return rates have been divided into "before" and "after" retirement to help account for possible changes in investment strategy over time. Return rates for retirement savings can still be entered year by year to help model sequence of returns risk.
• For those wanting to plan Roth conversions, taxes on the conversions are now accounted for, making this process more accurate.
There is no other financial planning tool that offers such in-depth capabilities for anywhere near the price and we are committed to keeping it that way. Our goal is to keep this important planning tool as accessible as possible for the greatest number of people. There is no better way to gain a greater understanding of your finances and to take control of your financial future than with an individualized financial plan, and everyone deserves easy access to a tool that helps them to do that.
The strongest endorsement of TCRP is when users share its benefits with friends, family, and colleagues, as so many have. Our success across the country has largely been through word of mouth (we do not advertise, helping to maintain the low price) so if you find TCRP to be beneficial, please "pay that knowledge forward" by letting others know. Helping others to gain a greater understanding of their finances is what this is all about.
Stop guessing, start planning, retire with confidence.