Unlike conventional retirement planning tools, IncomeWize incorporates taxes, complex Social Security rules, and real-world withdrawal planning.
50
States and DC modeled for taxes
9
Income & benefit types with category-specific treatment
12+
Interactive income, expense, and tax charts
Tax-Smart
Factors in tax liabilities across your retirement plan Federal, State, Capital Gains, Net Investment Income, and FICA
Includes Roth conversions and other tax optimization features
Differentiates between capital gains, dividends, and interest income
Sophisticated tax charts highlight opportunities for tax optimization throughout retirement
Accounts for Required Minimum Distributions (RMDs) and early withdrawal penalties Including IRA withdrawals before age 59½
Diverse Income Sources
Supports varied income types and associated tax and withdrawal rules Taxable, Tax-Deferred, and Tax-Free Accounts, plus Social Security, HSA, Pension, Passive Income, and Employment
Differentiates between primary and spousal income and benefits
Supports one-time and recurring income events like inheritance and lump sum pension distributions
Healthcare
Calculates Medicare Part A, B, and D premiums, including IRMAA surcharges
Models Medicare out-of-pocket expenses and pre-Medicare healthcare coverage
Supports Health Savings Accounts (HSAs) for medical expenses
Supports long-term care expenses
Support
Step-by-step "How It Works" guide and searchable in-depth FAQ
Contextual help tooltips throughout the Retirement Planner
PennyWize AI assistant for Retirement Planner and retirement-related questions
Direct support for Retirement Planner questions
Social Security
Enables exploring Social Security claiming decisions alongside your retirement plan
Helps maximize lifetime benefits with Social Security Maximizer
Estimates Social Security retirement, spousal, and survivor benefits
Covers major Social Security benefit rules Delayed Retirement Credits, Earnings Test, RIB LIM, Restricted Application and Deeming Rules
Flexible Expenses
Includes diverse research driven fixed and flexible spending strategies
Supports recurring and one-time expenses alongside everyday spending E.g. Child's Wedding or Tuition, Debt, Family Vacation
Stress Testing
Supports Monte Carlo stress testing to assess retirement plan risk
Estimates Probability of Success across 1,000 simulated retirement scenarios
AI-enabled investment growth and asset correlation modeling for more realistic stress testing Naturally factors in positive and negative investment years, including significant losses of 30 percent or more
Personalized Reports
User-friendly charts to visualize retirement plan outcomes Balances, Expenses, Income, Taxes, Cash Flow, Plan Confidence, Social Security Breakeven Year, and more
Dashboard-style summaries of income, taxes, non-investment income, withdrawal rates, and more
Comprehensive year-by-year view of modeled actions throughout your retirement plan