Hello,
I just discovered this website yesterday and have to say the Pralana Gold retirement calculator looks very impressive! I am considering making the purchase; however, I do have a question before I pull the trigger. I noticed in some other posts that a new Pralana web-based version of the calculator is going to be rolled out in early 2024 and the Excel version will be discontinued. Given that, does it make sense to purchase the Excel version now (Sept 2023) or should I just wait until the web-based version is released? I am hesitant to commit if the Excel version will soon be obsolete and not supported in the future. Appreciate any guidance as to how best to proceed. Thank you!
@anthonycapaldi It is true that a web version will be rolled out in mid-January and that we will no longer sell the Excel version. With that said, we will continue to support the Excel version (i.e., you can download new copies if and when necessary but there will be no more enhancements) and the new web version will import the data from the 2023 Excel version. If you purchase the Excel version now, you won't lose any of your work if you then decide to upgrade to the web version, but there will be an additional charge for that upgrade (though it will be discounted for PRC2023 users). One other thing: I typically give free upgrades to folks who do a full price purchase after October 1. This year, that upgrade won't be free but it will be discounted even more than if you went ahead with a purchase today.
Stuart
@smatthews51 Thanks Stuart for the prompt & helpful reply. Based on your feedback, I think I will purchase the Excel version after October 1st and consider the upgrade to the web version once I have loaded my data and assembled an exportable file ready to migrate over. Compliments on a great product! I have used Excel for decades as part of my career in Finance and have not encountered anything quite like your calculator - truly impressive.
@smatthews51 I am currently, with Bronze and am considering buying the Gold version. If I buy the Gold version now, how long will the Excel Gold 2023 version be supported? Will I be able to continue using Gold after the support ends (understand that Tax Bracket, etc. won't change)? I noticed there is a Kill Date... What is that?
@jsarpal PRC2023 will continue to operate indefinitely and if any major bugs are discovered, I'll fix them for another year or so.
@smatthews51 Thanks Stuart. Does the PRC 2023 Gold already have 2024 Tax Brackets and Medicare/SS updates? If not, when will it get those?
@jsarpal No, it does not and will not. Those are model-year-unique upgrade features and not maintenance changes. I may possibly release a 2024 version that contains 2024 tax brackets and other tax-related changes, but we're in the process of migrating the Pralana business to a web-based tool that will be released in January. If you were to purchase PRC2023 now, you'd receive a coupon for a discounted upgrade to the web version.
Stuart
Stuart - Any update on the the web version? When it might go live? Pricing for returning customers?
@nc-cpl We are continuing to make good progress and are trying to start beta testing by Dec 1. Our target for going live is mid to late January. I'll be sending out a newsletter with pricing and other information in the December timeframe but am not quite ready to announce it yet, but it will be higher because it's a better product, our costs are higher and competitive products are higher. It'll be sold via annual subscriptions rather than a one-time charge on a model year product.
Stuart
@smatthews51 Just wondering if web version release is still targeted for Jan? Looking to purchase Gold though prefer to start with the web version if expected to be available soon. Thanks
@archinal No, we will not be able to release the web version prior to late March, despite our best efforts; however, we will release PRC2024 Gold (Excel) within the next week or so. It'll use 2024 tax tables and the web version will import all the data from a PRC2024 file. If you purchase PRC2024, you'll receive a coupon that'll allow you to upgrade to the web version at a discounted price when it becomes available.
Stuart
Hi Stuart,
I like the current Excel product. I don’t like on-line applications and annual subscriptions. Did you consider keeping the Excel and just fixing major bugs and maintaining major compatibility? What about having a survey with the current customers to see their preference?
Thanks,
Gaby
@hecht790 Hi Gaby, what is your issue with on-line applications and annual subscriptions?
Thanks, Stuart
@smatthews51 I used Quicken for 18 years continuously upgrading every 2-3 years. Then they went to Cloud-only yearly paid option and I stopped using Quicken and never looked back. Same with TurboTax. I still use their desktop version. Once you are in the cloud, you compete with everyone out there. With NewRetirementPlanner.com RetirementBudgetCalculator.com MaxiFi.com or Fidelity.com (which has the best free Planner out there for Fidelity customers, the most comprehensive, I've seen).
@jsarpal I'm in the opposite camp. Quicken was a disaster for years -- its forums were crowded with angry users -- until it went to subscriptions, when it improved tremendously in stability and features. I'm quite happy with its current iteration.
@smatthews51 Hi Stuart, I've been using Gold for the past 2 years. Here is my issue with Online Pralana. I'm retired and live/travel fulltime in a 4x4 expedition camper. My internet access is via having cell service connection. 95% of the time I disperse camp on Forest Service or BLM land, where there is often no cell reception, and hence no internet connection. With the Excel-based product, I can still use Pralana Gold to do various analyses, even if I have no cell service. With Online Pralana I'll be out of luck in those situations.
Have you thought of making a Windows Desktop version that would not require an internet connection? It could still use a yearly subscription model. Kinda like TurboTax desktop.
Doug (sent via cell connection from top of a New Mexico mesa)
@d-ruthsbcglobal-net Hi Doug, thanks for your comments. We've thought of that and may get there at some point. For the time being, though, we'll be keeping the Excel version going and it sounds like that will work best for you.
Thanks again,
Stuart
Hi Stuart,
On-line application means that my data goes online. I am trying to minimize online access for security reasons. I know that you will have good security but many big companies with good security fail to secure their customers’ data.
Annual subscription usually means that if I don’t pay, the application is blocked or restricted. The current Excel application is not blocked even if I decide not to upgrade.
I like Excel since I can use it with my Excel programs and move data easily.
Thanks,
Gaby
@hecht790 Hi Gaby, thanks for the quick feedback. We plan to give the user the option of NOT saving their data on the web but, rather, to keep it on their local machine and just import it into the server's working memory at the start of the session and export back to the user at the end of the session.
Your experience with annual subscriptions is consistent with our plan.
Thanks,
Stuart
@hecht790 - Gaby, Keep in mind that for the Excel based PRC, some data used in calculations, such as tax tables, are "locked" (not User adjustable) and can become obsolete each year essentially forcing upgrade to keep related outputs accurate.
And FWIW, I'm also not a big fan of the annual subscription model for any software...
@hecht790 In addition to other replies, I'd point out that what Stuart is attempting here goes way beyond a few users of his retirement hobby. The calculator has great potential and needs to scale up to deal with the growing customer base and fierce competition from major finance players like Fidelity. Forcing people through MSFT's bloatware in order to use it makes no economic sense, while annual subscriptions provides a consistent revenue stream to pay developers. You can't do what he's doing without building a team and streamlining via economies of scale.
Will I need to pay each year to be able to access PRC?
@hecht790 Of course. We'll be rolling out new functionality fairly frequently and departing from the model year upgrades that I've always used with the Excel version. With the annual subscription business model it won't matter when you make your purchase; you'll always get 365 days of access including any and all changes that come along and you won't have to concern yourself with downloads, exports and imports. It'll all be transparent. But if you choose not to renew at the end of the 365 days, you'll lose access.
Stuart
