Access This ToolFinancial Planning Calculator
The goal of a planning calculator should be to match your personal situation as closely as possible. This requires that the calculator have a maximum amount of flexibility in order to mimic your finances. To achieve this goal I have provided for 23 different accounts with the ability to separately control each account regarding:
- the starting value of each account
- the investment growth rate of each account
- the starting value of additional annual contribution to that account if any
- the annual increasing rate of additional contribution to that account if any
- the date when additional contribution end to each account
- the date when withdrawals begin from each account
- the starting value of withdrawals from each account
- the annual increasing rate of withdrawals from each account
The various types of investment account, fixed income, growth, municipal bond, traditional IRA, Roth IRA, 401k, annuity, and others are taxed appropriately. Plus, you are allowed to enter you personal assumption regarding:
- State tax rate
- Federal ordinary tax rate
- Long term capital gains tax rate
- Qualified dividend tax rate
- Percent of fixed income accounts that is qualified dividends
- Percent of growth account gains that is long term
It is also important that a planning calculator be easy to use. Many other planning calculators require you to go through many pages of questions to capture your personal information. With this planning calculator, all of your financial information is entered on a single page. One additional page is required to enter your six assumptions regarding taxation. The chart reports and tables are color-coded and easy to follow. This simplified format makes the calculator very easy to use.
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