The median value on the Monte Carlo screen is less than the Investment Value at End of Plan number I see on the main screen. Why is that?

https://support.mywealthtrace.com/21145/kb/article/105917/how-monte-carlo-works" target="_blank Monte Carlo runs 1,000 scenarios on your investments where annual returns vary in every year. Every scenario has its own End of Plan value for investments. The median is the one in the middle of those values. The Investment Value at End of Plan on the main screen is the total value of all investments [...]

I won't pay state income taxes on my pension payments. How do I set this in the program?

The program will apply state tax rules based on the state in which you live. src="https://cdn.livehelpnow.net/clients/21145/kb/taxs1_6bdee6e7-ed55-4484-900a-8b189e87f38b.png" id="523cecda-f47f-4d0f-8c90-99c81c48b016" alt="taxs1" width="90%" height="auto" data-image="523cecda-f47f-4d0f-8c90-99c81c48b016 [...]

Does the program calculate my state income tax rate for me?

By default the program will calculate your state income tax rate based on your state's up-to-date tax laws. You can also enter your own state income tax rates. There is an option to tell the program that you will move in the future to a new state as well. src="https://cdn.livehelpnow.net/clients/21145/kb/statet1_8174c8e3-44c1-477c-97d9-0caf1022ccb5.png" id="17697d2e-b96a-47c7-9222-7fcd60f39f6d" [...]

I see shortfalls when I am 55, just after I retire. But I have plenty of money in my investment accounts. Why are there shortfalls?

Shortfalls very early on usually occur because you don't have access to your traditional IRAs or 401(k) plan before age 59.5. The program defaults to not allowing withdrawals from qualified retirement accounts before this age. However, you can https://support.mywealthtrace.com/21145/kb/article/111405/early-withdrawal-from-ira-or-401k" target="_blank change this. If you don't have enough [...]

Where do I enter my annual, recurring living expenses in retirement?

Enter this in the 'Annual Living Expenses in Retirement' input box as seen below. This entry is for annual, recurring expenses once retired. For expenses that will occur before retirement or will not happen every year, enter these in the https://support.mywealthtrace.com/21145/kb/article/107333/where-to-add-expenses-that-only-last-a-few-years" target="_blank Goals & Additional Expenses section. [...]