Two basic approaches to retirement income management are:
- If your spending needs are uncertain then the Optimal Retirement Planner (ORP) can project a plan to maximize your retirement disposable income.
- If you think you know your retirement spending needs then consult FIRECalc.com to estimate when your savings may be depleted.
Withdrawals from your Tax-deferred retirement savings account (401K, IRA, SEP, etc.) and other sources of income (Social Security income, pensions, etc.) are subject to the Federal progressive personal income tax. The order and magnitude in which you make withdrawals from your Tax-deferred, Roth IRA, and After-tax accounts affects your total retirement disposable income.
The Optimal Retirement Planner (ORP) computes your tax-efficient schedule of retirement savings withdrawals for your entire planned retirement.
The essential ORP narrative:
- Asks for your facts, in thousands of dollars ($000):
To change these assumptions, go to ORP's input-parameter long form.