Projects combined savings and investment-fund value each August 1, 2026–2064 · all figures nominal (future dollars)
| Aug 1 | Money needed | Total income | Taxes | Surplus / shortfall | Savings balance | Fund value | Est. monthly dividend |
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Monthly figures (money needed, total income, taxes, surplus) are for that August; savings balance and fund value are as of Aug 1 (before that month's contribution).
Income each month = A & B work (flat, only between their start/stop dates) + Social Security (grows 3%/yr from each person's start) + B's pension + any additional pension (both grow with the pension COLA, default 2%/yr, from their start; federal-taxable but NY-exempt) + the fund distribution (yield × current fund value).
Deaths (entered as the age at death — A reaches it in July, B in December of the relevant year): the deceased's work income stops; combined Social Security resets to the higher of the two benefits (continuing to grow with COLA); if B dies the pension drops to the survivor amount, the additional pension and B's student-loan payment stop, and if A dies alone the pension is unchanged; if both have died all of the above go to zero. If a reduced after-death money-needed amount is entered, it replaces the base amount (still growing 4%/yr) from the first death onward.
Money needed grows 4%/yr from its 2026 value; during its active window B's student-loan payment is added on top (flat, not inflated), so the Money needed column shows total monthly outgo. Surplus = total income − taxes − money needed.
A chosen share of any surplus buys fund shares at the fixed share price; the rest goes to combined savings. A shortfall is drawn first from savings — but only down to the minimum cash reserve — then by selling fund shares; the reserve is breached only if the fund is fully exhausted.
Fund cash-ins: each April once A reaches the chosen age (72 → first cash-in April 2037), the set amount of fund shares is sold and moved to savings, until the lifetime maximum ($230,000) is reached. The proceeds are taxed as ordinary income (federal + NY) at that year's marginal rate, and that tax is paid out of the proceeds — so savings rises by the amount net of tax while the fund falls by the full amount. These cash-ins are balance-sheet events (reflected in the Aug 1 savings and fund balances), separate from the recurring monthly Taxes column.
Two-phase money needed: the phase-1 amount applies until the phase-2 start month, then the phase-2 amount takes over; both grow 4%/yr from 2026 and are still replaced by the reduced after-death amount when one is set. House sale: on the entered month the net proceeds (sale proceeds minus tax on the taxable gain) are added to savings, with an optional share redirected into the fund — a one-time balance-sheet event, like the fund cash-ins. House renovation: on the entered month the renovation cost is deducted from savings down to the minimum cash reserve, then by selling fund shares if savings can’t cover it — a one-time balance-sheet event with no tax effect.
Taxes use 2026 graduated brackets — married filing jointly while both are alive, switching to Head of Household (its own brackets, standard deduction, and Social Security provisional-income thresholds) once one person has died. Federal: standard deduction, with Social Security taxed under the provisional-income test (up to 85% taxable); work, pension and fund distributions are ordinary income. New York: Social Security and the pension are excluded; only work and fund distributions are taxed.
Brackets are held at 2026 levels (not re-indexed), consistent with applying the 4% inflation rate to money needed only — so taxes here are a modestly conservative estimate. This is a planning model, not tax advice.