Pending more detail

:speech_balloon:

Create a section or sibling standalone application for execution vs planning

First and foremost would be creating very flexible decision-tree optimizers to help create the most efficient drawdown orders. That is asked for many times (https://changemap.co/projectifi/projectifi/task/7640-enhance-the-drawdowns-to-be/). But I would say that should just be the starting point.

I know Kyle is transitioning from a 1 man coding project. PL is great, and continuing development is very important. That said, how many of your users are close to retirement? Once you have grown the company into a model that can handle more, I would like to see this:

I think once we get to retirement age, we need a shift from planning to EXECUTION. The entire interface is for planning - and it’s great! But for actual execution, its confusing and does not help with important decisions to make.

If we can switch to a mode (or perhaps a sister application that links to your PL data). One that: - zeros in on the next few years and helps optimize what to liquidate, what to roth convert, what to transfer.
- Not just taxable vs. retirement – but helping to identify assets to liquidate within a taxable account to manage gains.
- As the years turn values tied to inflation should automatically (system-guided) increase to match inflation.

^ just for starting the discussion. If there seems to be interest, we can spend more time digging into how this can really work.

1 vote

Tagged as Suggestion

Suggested 17 February by user kt

Moved into Pending more detail 24 February

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  • 17 February kt suggested this task

  • avatar
    Shawn @PL

    This sounds to me like you’re describing a highly focused budgeting / cash flow app for the retirement phase.

    I fear that at this level, it would likely require a lot more information about and your finances than we currently track. A CPA-grade tax framework (effectively implementing a full tax return), finer detail on individual investments across accounts, and possibly a daily simulation granularity to inform on the exact timing of all of these actions.

    You never know what we might take on in the future, but this has a lot of prerequisites but is likely out of scope for now.

    Thank you for the idea though!

    24 February

  • 24 February Shawn @PL approved this task

  • 24 February Shawn @PL moved this task into Pending more detail

  • avatar
    kt

    @Shawn. Thank you for responding. OK. Yeah that was a big undertaking. And the complexities you describe are real. So, lets dial it back a little. And try to make PL something that can be used DURING retirement as well as just for planning.

    Just proposing some ideas. Hopefully it gains some traction. If you feel we should split this to multiple entries that might make sense. Your call.

    First and foremost this would be more rubust planning in Drawdown order (I think this may have already been suggested?). Perhaps the ability to choose specific accounts and assign (choice) amount or percentage to withdraw while using either a specific cost basis or the percentage baked into the current balance/cost.

    Perhaps the ability to use this drawdown order for select years and create others for different years.

    I would like some sort of yearly review process that walks us through (and automates some inputs) - updating balances (this already exists but should be in the ‘process’) - updating/confirming values in real estate. - increasing values tied to inflation - some sort of ‘snapshot’ saving to compare the planned year vs the actual year - for starters, just for the previous year would be good. (we can expand on some choice charts for this, but I dont think to needs to go crazy. Just some key YoY charts of income, expenses, returns, and maybe taxes.

    Still a big undertaking, I know. But I think this will go a long way towards keeping your clients DURING retirement. :-)

    25 February