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Looking For An In-Depth Online Retirement Calculator
Posted on 1/26/21 at 3:15 pm
Posted on 1/26/21 at 3:15 pm
We have a business and a rental property that we will sell at some point, and I don’t see any retirement planning calculators that will take lump sums like that into account. Edward Jones’ program did that when we had our annual meeting, but I’ve fired those guys. Surely something similar is available online?
And I know this is a question for an accountant or tax attorney, but what is generally the best thing to do with a lump sum from the sale of a business? What about a rental property?
And I know this is a question for an accountant or tax attorney, but what is generally the best thing to do with a lump sum from the sale of a business? What about a rental property?
4
Posted on 1/26/21 at 3:17 pm to auwaterfowler
Personal Capital has a nice one that I have used. It creates some Monte Carlo scenarios to look at your likelihood to achieve goals. It’s an app that I got a while back. The downside is one a quarter or every six months they call wanting to manage my money.
Posted on 1/26/21 at 3:20 pm to auwaterfowler
Personal Capital is a good one. Can run sims for different cases (retire right before a recession, etc)
Posted on 1/26/21 at 4:03 pm to CaptainJ47
Thanks to both of you for the rec. I’ll check it out.
Posted on 1/26/21 at 8:49 pm to auwaterfowler
Take look at these two:
MaxiFi Planner
Pralana Retirement Calculator
I have spent a good bit of time looking at retirement calculators over the last couple of years and like both of these. The first one is a paid only subscription which does have the ability to deal with rental properties. Not sure on the business sale other than to guesstimate a lump sum on the sale.
The second calculator has a free and paid version - so far I've only played with the free one. It is very detailed and seems it could handle the the lump sum gain from the sale of your business and rental property. Both of these are much better than many of the more simple tools you have likely found online.
I looked a little at Personal Capital as it has rave reviews from what appear to be independent sources, but got a nagging sense of being looked at as a revenue source (beyond a simple license fee) with the accompanying string of emails and phone calls. Probably not what they do, but I was looking for tools to help me understand and manage my situation, not wander down the road of paying someone else to do it.
MaxiFi Planner
Pralana Retirement Calculator
I have spent a good bit of time looking at retirement calculators over the last couple of years and like both of these. The first one is a paid only subscription which does have the ability to deal with rental properties. Not sure on the business sale other than to guesstimate a lump sum on the sale.
The second calculator has a free and paid version - so far I've only played with the free one. It is very detailed and seems it could handle the the lump sum gain from the sale of your business and rental property. Both of these are much better than many of the more simple tools you have likely found online.
I looked a little at Personal Capital as it has rave reviews from what appear to be independent sources, but got a nagging sense of being looked at as a revenue source (beyond a simple license fee) with the accompanying string of emails and phone calls. Probably not what they do, but I was looking for tools to help me understand and manage my situation, not wander down the road of paying someone else to do it.
Posted on 1/26/21 at 8:58 pm to Phil09
I will say I enjoy Personal Capital as it has allowed me to track assets and liabilities in one spot for free. The calls get annoying at times but they are infrequent. The support is nice because if an account isn’t linking they help get it fixed. It has been really nice budget wise as I dissect what I spend money on in addition to my stocks.
Posted on 1/26/21 at 9:03 pm to Phil09
I must have notifications turned off because I never get emails or calls from PC
Posted on 1/26/21 at 10:50 pm to Phil09
quote:I use Pralana Gold. If you're a DIYer it's pretty nice.
Pralana Retirement Calculator
Posted on 1/26/21 at 11:11 pm to auwaterfowler
How big of lump sums are you talking about? I’m Working with a couple biz owners to eliminate the taxes from a greatly appreciated asset and business after the sale.
Posted on 1/27/21 at 9:54 am to wasteland
My business should bring $1-1.2MM in today’s dollars, at my current sales level. This is blue sky with no tangible assets. Just a book of business. I have an agreement with my main supplier (Mitsubishi Polyester Films) to buy it from me when I’m ready to sell.
The rental property in today’s dollars should bring $250k+.
The rental property in today’s dollars should bring $250k+.
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