IW Retirement Planner Features

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 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 Tax-Free Social Security HSA Pension Passive Income 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

Personalized Reports

  • User-friendly charts to visualize retirement plan outcomes Balances Expenses Income Taxes Cash Flow Plan Confidence SS Breakeven Year and more
  • Dashboard-style summaries of income, taxes, non-investment income, withdrawal rates, and more
  • Risk Radar to highlight retirement plan areas that may need attention Withdrawal Pace Tax Spikes Healthcare Costs Savings Longevity and more
  • Comprehensive year-by-year view of modeled actions throughout your retirement plan

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 Deeming Rules

Flexible Expenses

  • Includes diverse research driven fixed and flexible spending strategies
  • Supports recurring and one-time expenses alongside everyday spending Child's Wedding 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

What-If Explorer

  • Explore changes to retirement dates, expenses, Social Security, investment assumptions, healthcare costs, and more
  • Compare your current and proposed plans side by side to understand the financial impact and apply the scenario to your retirement plan

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

Empower yourself to achieve financial well-being.

Build a detailed, year-by-year retirement plan in about 30 minutes. Free, and no signup required.

Start Your Retirement Plan How it Works