Magazine article Medical Economics

Rich and Retired

Magazine article Medical Economics

Rich and Retired

Article excerpt

Rich and Retired (DataTech Software; about $60)

If you like to tinker under the hood of the car on your day off, you'll love Rich and Retired. A great vehicle for tuning up a tired or neglected portfolio, it allows you to make many more adjustments than the other retirement-planning programs.

For instance, Rich and Retired is detail-intensive when it comes to investments. It lets you enter a projected rate of return for each asset, or accept the program's best-guess return, based on trends over the past 20 years.

When it calculates how much cash you'll have available to cover your living expenses during retirement, Rich and Retired can also exclude the value of assets that you don't want to sell. It can factor in lesser-known income sources such as a reverse mortgage-an arrangement in which a lender pays you a monthly sum that's subtracted from the value of your house. (The program also lets you import asset data from Quicken and Managing Your Money, a product of MECA Software.)

Not enough detail for you? You can set individual inflation rates for each expense in your budget, from trash-removal costs to dentist visits. For example, grocery bills might go up 4 percent annually, car insurance 6 percent. While the minutiae are nice, they border on overkill, and excluding these extra projections probably won't affect your portfolio much. Put it this way: If you're worried about how much your root canal might cost in the year 2010, we can suggest a nice spa vacation for you. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.