The 2025 version of The Complete Retirement Planner (TCRP 2025) has just been released!
As always, this update includes the most recent tax code changes, 401k/IRA and HSA contribution limits,
and Medicare premiums. Several new features have also been added that will further solidify TCRP's reputation
as being one of the most comprehensive retirement planning tools available (and still at an unbeatable price!).
But don't let the low price fool you - it is not because TCRP is lacking in any way, we do it because we CAN,
and because it makes a significant difference for households across the country. Our one goal is to help people to
plan for their future, not to charge as much as the market will bear. This is why we do not advertise (keeping the price
as low as possible), and why even with significant inflation over the past several years, the price of TCRP always remains at $89.99 (and annual updates at only $12.99 for existing customers!). We are obviously not in this for
the profit, we are here only to make it as easy as possible for anyone to create a comprehensive financial plan
for their future. The combination of a feature rich planning tool, an unbeatable price, and excellent customer service
is what makes us unique. No one else does what we do.
New for 2025:
• Designated entries for Inherited IRA's have been added. Whether you have an older Inherited IRA that offers annual distributions over a lifetime, or you are required to follow the "10 year rule" for distributions, desired amounts may be entered by year, they will be taxed, and the net amount will be added to your Non-Retirement savings automatically. Easy!
• The upper limit of the entry for what percentage of excess income can be "auto-saved" has been raised to 95%.
When you receive a large bonus from work, have annuity payments that are not all needed for expenses, or otherwise generate more income than is needed for expenses, it is important to be able to retain as much of that excess as possible (believe it or not, some planning tools (like Fidelity!), just ignore it. Ouch!). While this is a small increase from the current 90% maximum, the more excess income that you might have, the larger the difference it will make. Why not allow 100% of excess income to be saved? Because it just isn't reasonable to expect that anyone (even super-savers) will be able to save every penny of excess income, every year, for decades. A reliable plan always has at least a small margin of error built in.
• Non-Retirement Savings has been split into 3 buckets - Cash, Short-Term Invested, and Long-Term Invested.
Cash (e.g., checking accounts, basic savings accounts) and Short-Term Invested savings (e.g., higher yield money market accounts, taxable dividends, short-term stocks/mutual funds/CD's, etc.) are the same as the existing entries. These are savings that are always fairly liquid. Interest and returns on these savings are taxed annually.
The new Long-Term Invested savings is for savings that are expected to remain invested, and that have been owned
for more than 1 year. Enter a cost basis (the % of the current balance that was originally paid for the investments), along with expected future returns, so that when a distribution occurs, it will be taxed as a Long-Term Capital Gain,
not as ordinary income. If you do not know the cost basis, the planner will default to using an assumed cost basis based on 75% of the prior 10 year S&P 500 average return. We've got you covered!
• Currently, all Non-Retirement savings have entries for what interest/returns are expected for those savings for both before and after retirement time frames. For Long-Term Invested savings you can do the same, or, an option has been added so that you can apply the annual expected returns entered for Retirement Savings to Long-Term Invested savings. This provides more return flexibility for those savings that may have larger balances and that may be invested similarly to Retirement savings.
• A column has been added to the Income Worksheets on the Income page so that you can designate if income from wages should have FICA tax (Medicare and Social Security taxes) applied. This is a common payroll deduction but it doesn't apply to everyone. If you check the box next to an entered amount, FICA taxes will be added to the Total Taxes column on the Results page. If left unchecked, FICA will not be applied, allowing you to use the same column for both wage, and/or other, income.
• The Set Up and Income pages currently have a section at the bottom to add notes about your entries. But have you ever wanted to add a note next to a specific entry? While it is a basic Excel feature, it couldn't be done on the planner's protected pages. Until now! On the FAQ page we explain how to add a note (that can be moved, but that has a thin line going back to the cell being referenced), or how to add a text box (without any lines going to a particular cell, but that can be moved anywhere). Keep important information right next to where you need it!
• A graph has been added to the Results page to show Income tax, Capital Gains tax, Total Federal tax, and State tax
for a better visual reference of total tax liability. There are also notes above the graph explaining important information about the taxes.
There is no better way to gain a greater understanding of your finances than with a comprehensive financial plan.
We are committed to making it easy for anyone, even with limited (or even, no) planning experience, to create an individualized, comprehensive financial plan for their future.
The strongest endorsement of TCRP is when users share its benefits with friends, family, and colleagues, as so many households have done in every state from coast to coast. Since we do not advertise, our success has been achieved completely through word of mouth. If you find TCRP to be beneficial, please "pay that knowledge forward" by letting others know. Helping others to gain a greater understanding of their finances is what this is all about.
Stop guessing, start planning, retire with confidence.