Hi. New user. I created an output report. The attached JPG is a screenshot from my report, page 7, from the Accounts Summary section, of my Tax-Deferred Accounts.
I have 2 questions:
1) The personal contribution is my annual after-tax IRA contribution of $7500 (includes 50+ catchup). I'd like that to remain at $7,500 each year, as it's the max contrib (obv it will go up w COLA indexing every couple years, but I'm willing to forgo that for simplicity). My question on this is a) Is there a way to straight line this to $7500, and b) in this scenario it's going down ($7,282 in year 2, etc..). I'm assuming that's the future value of $7500 after 3% inflation. But w COLA increases, that limit will go up every couple years based on IRS recalculating... due to inflation. Is there a way to change how this contribution is indexed in subsequent years?
2) If you look at the ending balance on any year, then the starting balance on the subsequent year, these numbers don't match. They are going down by approx 3%. Why is that happening? Is this inflation too?
Thank you!
@kpress Hi Ken, there's no way to change the way the contributions are indexed. They are indexed at the Annual % Increase specified for the associated income stream. On the summary report, yes, the ending balance for year n and the starting balance for year n+1 are different due to inflation when you're looking at the report in terms of today's dollars.
Stuart
