IW Retirement Planner Features

A comprehensive, free retirement planning solution that accounts for taxes, income types, Social Security rules, and much more.

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

Tax-Smart

  • Factors in tax liabilities across your retirement plan
    Federal, State, Capital Gains, Net Investment Income, and FICA
  • Differentiates between Capital Gains, Dividends, and Interest Income
  • 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, 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

Healthcare

  • Calculates Medicare (Part A, B, and D) premiums and IRMAA surcharges
  • Supports Medicare out-of-pocket costs, pre-Medicare coverage, and long-term care expenses

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 COLA, Investment Account Fees, and much more

Stress Testing

  • Supports industry-standard Monte Carlo stress testing to assess retirement plan risk
  • Calculates your plan's Probability of Success by simulating 1,000 scenarios
  • AI-enabled investment growth, asset correlation, and other features for more realistic stress testing conditions
    Naturally factors in positive and negative investment years, including significant losses of 30 percent or more
  • Estimates final balance, expenses, and taxes paid through stress testing scenarios

Professional Reporting

  • Over a dozen user-friendly charts to help understand retirement plan outcomes
    Balances, Expenses, Income, Taxes, Cash Flow, Plan Confidence, Social Security Breakeven Year, and more
  • Dashboard style summary of total income & taxes, non-investment income, withdrawal rate, and 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

Support

  • Step-by-step How It Works guide and searchable FAQ with in-depth information
  • PennyWize AI Assistant for quick answers about Retirement Planner features and retirement-related questions
  • Direct support from IncomeWize for questions about IW Retirement Planner
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