The Best DIY Retirement Planning Tool
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Moran Wealth Management, LLC is a registered investment adviser. This content or the content on this channel prior to February 26, 2024 was published by Secure Your Retirement Now LLC and not by Moran Wealth Management, LLC. Trent Grzegorczyk was the owner of Secure Your Retirement Now LLC. Mr. Grzegorczyk was also the owner of Resilient Financial Planning, LLC, a Michigan registered investment adviser and any advisory services were provided by Resilient Financial Planning, LLC. As of February 26, 2024, the content is provided by Moran Wealth Management, LLC and any reference to advisory services would be provided by Moran Wealth Management, LLC. Moran Wealth Management, LLC is not responsible for the content created prior to February 26, 2024.
The content on this page and/or video is for educational purposes only and should not be construed as investment advice. Specifically, the content is intended to provide education and tools for individuals looking to handle their retirement planning on their own. Should you need personalized investment advice, you should consult with a registered investment adviser. Any communications on this page with other individuals that are not associated with Moran Wealth Management, LLC are done voluntarily by users and are unsupervised and unaffiliated with Moran Wealth Management, LLC and Moran Wealth Management, LLC has no responsibility or liability over any discussions or advice that may be given. Moran Wealth Management, LLC is a registered investment adviser and can provide investment advice. If you are interested in Moran Wealth Management, LLC’s advisory services, you can contact us at 239-920-4440 or info@moranwm.com.
#retirement #planning #DIY #newretirement #personalcapital #fintech #rothconversions #taxplanning #investing #theretirementplanningcoach #theretirementplanningclub #2022
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@rachealhubert74 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@rachealhubert74 I will give this a look, thanks a bunch for sharing.
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In the simplest sense, retirement planning is what one does to be prepared for life after paid work ends. This isn't just financially but in all aspects of life.
Yeah, where to live, and when to quit working altogether, among other things. A holistic approach to retirement planning considers all these areas.
I think the emphasis one puts on retirement planning changes at different stages of life.
Early in a person’s working life, retirement planning is about setting aside enough money for retirement. Bianca harley doran, An expert financial advisor always emphasizes on the importance of investments while retired.
Regardless of where you are in life, there are several key steps that apply to almost everyone during their retirement planning.
@@zenithtradeinvestor3735 Thats right, Bianca Harley doran will always advise you to check on your investments from time to time and make periodic adjustments. I love her intriguing methods of achieving great financial returns.
Not sure why the comparison between Personal Capital and New Retirement; the former is merely an account aggregator, while the latter is a retirement planner. 🤷 I actually use both; Personal Capital for a real-time snapshot of my net worth, and New Retirement for all my what-if’s. New Retirement will be helpful for when I eventually meet with a retirement/tax planner.
I cover all of that here > th-cam.com/video/Ar3LtLHqPBQ/w-d-xo.htmlfeature=shared
The best DIY planner I have used and still do is Flexible retirement planner, also great forum and support. I
Looks like it hasn't been updated since 1999 ;) heh
Love NewRetirement. I've tried using diy tools from Schwab and Fidelity, but their ability to incorporate things like planning for one-time outlays was limited. Although the free version of NewRetirement lacks some features I'd be willing to pay for, I'm still happier with what I was able to produce. with it.
Thanks for sharing and following along! :)
In general
If you want to perform a Roth conversion because your RMDs will be very high and almost all our 12:55 retirement monies are in an IRA so you will have to pay the taxes out of your IRA account. However my future tax rates will be much higher once the tcja expires and you will not. Increase your Irma Medicare rates. Does this Roth conversion make sense?
I wish the NR program was more intuitive. When you use the percentage rate draw and then add additional disbursements or one time expenses those added draws are deducted from the fixed rate draw in most of the tables (such as in the insights charts). I dont think most people who use this know that is the case. Am i missing something.
I tried the free trial. I loved the program. However, I found one disturbing aspect. In the program, when I retired, the program estimated my taxes in the first year of retirement based on my last year of working and deducted that amount from my designated account. Then in the next year when the program realizes that I paid too much tax, it refunded the amount of tax overpaid. I don't understand why the program can't just calculate taxable income by year, and calculate taxes based on that. Based on that, I decided not to pay for the software.
NR also has many workshops and advisor plans. Very good. Why not get advice directly from the primary source New Retirement?
NR has lots of resources for every type of service need. Great company!
Because we like Trent's chill approach with no sales push. Why do financial planning experts need to behave like used car salesmen???
❤️
I find it weak on real estate modeling. It has an entry for rental property values. But if you want to sell, they tell you to instead model the property as a taxable account. Then. You can enter a cost basis. What I don't like is that doing it that way, the house value is displayed as part of retirement savings.
Do you know of a better self-directed planning tool for DIYers? I haven't... Check out this workaround for selling a business or any asset in the future: th-cam.com/video/9DUwe6bCWLw/w-d-xo.html
@@RetirementPlanningClub - the video link is private
Thank you.
Is this Canadian or USA?
Will NewRetirement allow you to figure out the best way to do distributions once you retire??? Thanks.
Yes but you have to determine your exact plan execution.
How about the software from Root Financial? I have NR, but it is weak in real estate modeling. The one from Route Financial looks better, but I have yet to purchase it.
I use RightCapital with many clients, which is what Root uses too. Great tool.
@@RetirementPlanningClubThanks!
is this downloadable? why give all your info to just any entity on the cloud and also link your accounts? your thoughts?
You can manually enter account values to NR instead of syncing with Plaid if you're concerned about security.
@@RetirementPlanningClub - I'm assuming this is not downloadable software, right? I'm looking for info on what type of personal info I'd be inputting and how secure it is on New Retirement. Thanks!
It's cloud based and not downloadable. Easy to go incognito though... Simply give a fake name, create a vague email and manually input account values.
Please stop saying they should charge $100 per month, lol. They might be listening.
This is US only correct
NewRetirement is US only. If you are looking for a tool that is broader, check out Projection Lab > projectionlab.com/
@@RetirementPlanningClub Wow. Great app and just what I needed
Regrettably... Useless for us Canadian customers.
Dang!