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No. of Recommendations: 1
So I tried using the retirement planner last night and it keeps telling me that my plan will fail. Not sure why it's doing this, but has anyone else done a successful plan in Q2007? If so did you run into any problems setting up the plan?

Mark
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Just did my plan again today in Q7 after converting from Q3 several months ago. Everything is working and the "what ifs" work too.

It depends on your assumptions, budget etc. The biggest mistake I've made is to NOT take out tax and home purchase expenses from my living expenses (you probably use them in your regular budget, but the retirement planner is different). Quicken adds them back in as you go through your home and tax assumptions.

Hope that helps/works. I really like the planner.

Hockeypop
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Hockeypop:

Please expound. Are you saying that I need to set up a seperate budget to use with the retirement planner. Specifically one that does not include expenses for income taxes or home purchase expenses? By home purchase do you mean mortgage interest or some other expense?

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Please expound. Are you saying that I need to set up a seperate budget to use with the retirement planner. Specifically one that does not include expenses for income taxes or home purchase expenses? By home purchase do you mean mortgage interest or some other expense?


Your planning categories include:

Income
Taxes and inflation
Savings and Investments
Home and Assets
Loans and Debts
Expenses

There are sub-categories under each.

So, if you figure taxes, you do not need to duplicate them in your living expenses.

Similarly, if you have completed the home and asset category assumptions (along with loans and even credit card debt category payoff assumptions), they shouldn't be in living expenses either (the planner figures when your loan will be paid off).

When you use the existing budget from outside the planner, you have the ability to take those categories out, so all you have are your present living expenses.

If you look at the results of your plan (that's the part that for you has said that your plan isn't working) and click on an individual year, you will get your revenue, expense and investment assumptions for each year, compensating for inflation, in today's dollars. That may also make some of this clearer for you.

Does that help?

Hockeypop
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Yes. I think that helps a lot.

I have tried the retirement planner many times in previous versions it will always tell me that my plan will fail miserably. But I never, "deselected" categories as you describe when using my budget.

Thanks for the information.



On a related note. Is there a good reference out there for Quicken that disscusses these types of issues?
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I've been using it since the DOS days, but I did buy a new book last year and will have to find it when I get back to the office.

Mainly I learned by "fiddling" with Quicken, but that book did help some. It'll be a couple of days before I get back.

Hockeypop
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