Hello. Fairly new user. Believe I have entered my data correctly, but there are some finer details to still figure out. Question is, when I run the projection for earliest retirement date, it says "Congratulations. You can retire at start of plan." I'm 54 with a pretty basic portfolio. Under one million liquid assets, No debt. Has anyone else received this result? Have I made a basic error in data entry? Thanks very much.
@ofredwyahoo-com I took a quick look at your plan and the issue is that you haven't associated any of your income streams with your retirement date. Therefore, the earliest retirement date being calculated has no bearing on your income. To make this work correctly, you need to specify the end of your employment income with your retirement date by entering an "R" in the stop date and the start of your pension(s) with your retirement date by entering an "R" in the start date. You can read more about this in the user manual.
Stuart
@smatthews51 Thanks very much for your quick reply. I will investigate that tomorrow when i'm off work. I do admit, Pralana is maybe the most detailed (complicated) retirement planning software I've seen. Still lots to learn. I will continue to look through the forums and the manual. Thanks again.
@smatthews51 Hello Stuart. I appreciate you taking the time to offer suggestions. I've tried various permutations, using R, using specific dates, using age. It always comes back with retirement at start of plan. I do have a weird little pension. I got hired right before it was eliminated as a benefit. I believe I've modeled that correctly. And I believe my wife's income is modeled correctly. I did read the manual. I'll look through the forum again, but I'm wondering if you have any other tips. It's ok if you don't. Thanks.
