What are the differences between ORP and Quicken?
The Quicken Retirement Planner is available on the Quicken web site. There is no charge for the basic planner. Some of the fundamental differences between ORP and Quicken are: • Quicken lacks illiquid asset modeling, • Quicken requires that you supply your estimate expenses in retirement; ORP computes the money available for spending in retirement, • Quicken requires that you supply your average Federal income tax rate; ORP computes your graduated incomes taxes. • Quicken does not provide for estate taxes. • Quicken does not reduce taxes by moving money from the Tax-deferred Account to the After-tax Account late in retirement. • Quicken uses separate life expectancies for a married couple; ORP uses the IRS method of a combined life expectancy. • Quicken does not provide for earned income during retirement. To illustrate comparison runs were made between the two systems. A typical ORP run was made that maximized the money available for spending with a fixed estate.
The Quicken Retirement Planner is available through the Quicken commerical product. Some of the fundamental differences between ORP and Quicken are: • Quicken lacks illiquid asset modeling, • Quicken requires that you supply your estimate expenses in retirement; ORP computes the money available for spending in retirement, • Quicken requires that you supply your average Federal income tax rate; ORP computes your graduated incomes taxes. • Quicken does not provide for estate taxes. • Quicken does not reduce taxes by moving money from the Tax-deferred Account to the After-tax Account late in retirement. • Quicken uses separate life expectancies for a married couple; ORP uses the IRS method of a combined life expectancy. • Quicken does not provide for earned income during retirement. To illustrate comparison runs were made between the two systems. A typical ORP run was made that maximized the money available for spending with a fixed estate. Only the parameters shared between ORP and Quick
