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Q: I
downloaded the Retirement Calculator and see a variety of .class files,
but no executable.
A: You do
not need to unpack the file you downloaded from this site. The .class
files are the various components of the Retirement Calculator. If your
computer does not recognize the file you downloaded as an executable,
you need to install the
Java Runtime
Environment. Once it is installed, double clicking on the
RetirementCalculator.jar file will launch the calculator.
Q: I downloaded the Retirement Calculator, but the
file has a .zip extension rather than a .jar extension.
A: Save the
.zip file to disk and rename it .jar. If a Java Runtime Environment is
installed, it should now be executable. We are working to resolve this
problems. It seems to affect only certain versions of IE.
Q: How can
I add a Roth IRA to the list of assets?
A:
Currently there is no functionality to handle Roth IRAs. We recommend
entering it as a regular IRA, which results in withdrawals being taxed.
While this is incorrect, it puts a pessimistic bias into the simulation.
In reality you would have more assets to spend than the simulation
assumes. For most users the effect will be small since Roth IRAs are
likely to only be a small potion of their retirement assets.
Q: How can
I include a note payable in the simulation?
A: Enter
the monthly payments you receive from the note on the cash flows tab. If
there is a lump sum payment to you when the note expires, enter that on
the cash flow tab as well as a cash flow that happens only that one
year.
Q: Why does
the Monte Carlo Retirement Calculator ignore end dates for mortgages and
other loans?
A: The
Retirement Calculator computes the loan balance each year based on the
interest rate and your monthly payment. The end date of the loan is a
result of this calculation. Only for interest-only loans does the end
date make any difference. It is the year in which the principal must be
returned to the lender.
Q: Why
doesn't the calculator give an option to fund retirement accounts?
A: The
Monte Carlo Retirement Calculator books all excess cash into a taxable
account which is invested in stocks. Currently there is no way to change
this default. The size of the maximum contribution to a retirement
account depends very significantly on the individual's situation and it
is practically impossible to forecast contribution limits. For
simplicity we assume that all future investments are made in taxable
accounts. This understates the amounts available for consumption during
retirement and gives the forecasts a conservative bias.
Q: Some
costs seem to go up faster than general inflation. How can I incorporate
this?
A: For each
of these costs you can enter additional entries, but make them start in
the future. For example, your health insurance may be $100 per month and
you expect it to increase 10% per year rather than the overall inflation
rate of 5%. You could enter an expense of $5 per month starting one year
from now, and another for $5 per month starting in two years. The $5 per
month reflect the 5% inflation in health care premiums over and above
the normal inflation of 5%.
Q: How
do I export the results?
A:
Currently there is no export function available in the free version.
Q: The
Monte Carlo Retirement Calculator opens, but the boxes for the inputs
are too small and the layout looks strange.
A: Most
likely you have aftermarket fonts installed on your computer. The
Symbols font tends to be the source of the problem. Find the Windows
standard True Type symbols font (Usually C:\WINDOWS\Fonts\SYMBOL.TTF)
and copy it into the fonts directory of your Java Runtime Environment
(Usually ....\jre\lib\fonts). This should fix the problem. If you have
several JREs on your computer, make sure that you copy the font into the
version you are using.
Please don't hesitate to
contact us with suggestions for how to improve the calculator, error
reports, or questions.
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