IW Retirement Planner Features

Most conventional retirement calculators don't account for taxes and complex retirement account rules, both of which are essential for accurate forecasting.

The IncomeWize Retirement Planner incorporates federal and state taxes, different account types, required minimum distributions, Social Security rules, and much more to offer a comprehensive free retirement planning solution.
  • Factors in tax liabilities across your retirement plan
    Federal, State, Capital Gains, Net Investment Income, and FICA (Social Security and Medicare)
  • Differentiates between Capital Gains, Dividends, and Interest Income
  • Calculates Medicare IRMAA surtaxes
  • Built-in tax optimization features
Diverse Income Sources
  • Supports varied income types and associated rules
    Taxable, Tax-Deferred, and Tax-Free Accounts, plus Social Security, Pension, and Employment
  • Differentiates between you and spousal accounts and income
  • Supports one-time or recurring income events like inheritance, lump sum pension distributions, and royalties.
Flexible Expenses
  • Supports diverse spending strategies
  • Allows for recurring and non-recurring expenditures alongside everyday spending
    E.g. Child's Wedding or Tuition, Long-Term Care, Debt, Family Vacation, etc.
Social Security
  • Enables evaluation of Social Security scenarios to see how they impact your retirement plan
  • Helps maximize lifetime benefits with Social Security Maximizer
  • Estimates Social Security retirement, spousal, and survivor benefits
  • Covers major Social Security benefits rules
    Delayed Retirement Credits, Earnings Test, RIB LIM, Restricted Application and Deeming Rules
Sophisticated Modeling
  • Quickly determines potential exhaustion of retirement funds with tips to overcome shortfalls
  • Accounts for Required Minimum Distributions
  • Supports Roth conversion scenarios that let you stay under a specific tax bracket
  • Automatically calculates penalties including IRA withdrawals before 59 1/2
  • Allows for modifying a range of plan assumptions
    Inflation, Social Security and Pension cost-of-living adjustments (COLA), Investment Account Fees, etc.
Stress Testing
  • Supports Monte Carlo stress testing to assess retirement plan risk
    Factors in positive and negative investment years, including significant losses of 30 percent or more
  • Calculates your plan's Probability of Success over 1,000 scenarios
  • Estimates final balance, expenses, and taxes paid over stress testing scenarios
Professional Reporting
  • User-friendly charts to easily understand your retirement plan outcomes
  • Dashboard style summaries for plan expenses, taxes, non-investment income, and much more
  • Sophisticated tax charts to visualize years where tax optimization strategies can be applied
  • Comprehensive accounting of all actions taken, year by year, across your retirement plan

Empower yourself to achieve financial well-being.