RETIRE HAPPY
Simply enter your retirement plans (age when you would like to retires , etc) add financial information (assets,spending,income,loans) and Retire Happy will calculate if your retirement plans are sound!
Enter your data:
Just select relevant tab and then enter (or modify) your data right into the fields.
Use right mouse click to delete a row, insert a new row, or duplicate a row
SetUp
Entire Information about you and your retirement plans
Fields:
"Inflation Rate": rate at which asset values depreciate
"Inflation SD": Standard Deviationfor inflation rate
"Default SD": Standard Deviation to be used if not set in rates tab
"Default ROI": Return on Investment to be used if not set in rates tab
"Calculate Spending From Budget": Select this option to auto add entries to the “spending” tab calculated from budget entries
"Current Year": Enter year you would like to use as “current year” for calculation purposes.
"DOB": Date-of-birth
"Life Expectancy": Age at which you would like the retirement planning to end
"Monte Carlo runs": Number of runs for Monte Carlo Simulation
"Retire Age": Age you will retire.
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Assets Types
All assets (pension funds, savings accounts, investment accounts etc.) can be grouped together based on expected return, taxation status etc.
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By default there are 3 asset types:
Tax Deferred
Tax Free
Taxable
But you can set up others as required by your portfolio.
This screen just identifies the asset types and the order they should be drawn upon. See ‘rates’ section below for how other attributes are setup.
Rates
An important factor for your retirement plans is the expected
- Rate of return on your assets
- Inflation rate
- Likely variations from the average (standard deviation of these rates
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This section allows you to set these rates. This can be done for all assets or each individual asset
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Note:
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If you set a value for both "all" and for a specific asset then the rate for the specific asset will be used
You can use 'startyear' and 'end year' to have multiple rates for the same asset through time
Assets
Fields:
name: Type or Name of Asset
Asset Type: Drop down of Asset Types
Value: Value of Asset
Order: Order in which asset should be used to finance net spending (enter “0” if asset should not be used for this – for example if it is a non-liquid asset like a house
Start: Your age when the asset comes into your possession – enter “0” if you own it at start of plan
Exclude: Check this box to exclude this asset from future Monte Carlo Runs
Budget
Just fill in values for budgeted items , or right click to delete, insert or copy the line.
Income
Fields:
Type: Type or Name of Income Stream
From: Age that income starts
To: Age that income ends
Amount: Value of income
Exclude: Exclude this income stream from plan
Spending
Savings
MonteCarlo Run
This button calculates if your plan will succeed based on for Monte Carlo techniques. See “setup” tab for details of how to set this up.
Save
Save your current plan
Save As
Save your plan under a new name
Load Plan
Load a previously saved plan
New Plan
Create a new plan from scratch
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Utilities
Various useful features.
Edit Params
Customize currency, font size, foreground and background color , initial screen and other useful features.
Export
Export montecarlo run to CSV format
Delete Plan
Delete Existing Plan
Import/Export to FlexibleRetirement Planner
Flexble Retirement Planner is an excellent Retirement Planning tool. These options allow importing and exporting of data with that tool.
Configure Chart
Select which columns appear in chart on Monte Carlo Run(Beta feature)
Configure Report
Select which columns appear in Report on Monte Carlo Run(Beta feature)