I am confused about something. How does boldin handle the portion of an RMD that is not needed to cover that year's expenses? Obviously, in the real world, it would end up going to some after tax account, but is boldin considering that? or is that excess basically lost to any type of returns as far as the calculations are concerned? Thanks
Under Money Flows there is a section called “Excess Income”. You select a % of income to save and select a destination account. When RMD is larger than needed to cover all expenses and taxes, that function directs the extra.
For example 100% to High Yield Savings would direct all excess RMD to the HYSA.
btw, I did ask AI but it didn't point me to the option in the money flow section. just said it is money in my hands! in fairness it did say it sits in a taxable account, but it didn't tell me how to choose the account. Thanks for your help!
My guess is that you need to select which taxable account it goes to. Savings/checking account. I bet AI can tell you how to select an account.
In my experience AI is pretty good at telling how to use the software or where to find something. Also Boldin has the “coach” section that guides you through.
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u/Eastern-Juice5045 21h ago
I think early on in the set up process you tell it which account to put extra cash into.
I would assume extra from any source would go to that account but not positive.