owlplanner 2025.2.15__tar.gz → 2025.2.20__tar.gz

{owlplanner-2025.2.15 → owlplanner-2025.2.20}/PKG-INFO

@@ -1,6 +1,6 @@
 Metadata-Version: 2.4
 Name: owlplanner
-Version: 2025.2.15
+Version: 2025.2.20
 Summary: Owl: Retirement planner with great wisdom
 Project-URL: HomePage, https://github.com/mdlacasse/owl
 Project-URL: Repository, https://github.com/mdlacasse/owl

{owlplanner-2025.2.15 → owlplanner-2025.2.20}/docs/owl.tex

@@ -160,7 +160,8 @@ Parameter values are either set by the user, historical data, or by the tax code
 		\gamma_n = \prod_{n' = 0}^{n-1} (1 + \tau_{3n'}),
 	\end{equation}
 	with $\gamma_0 := 1$, and where $n'$ is a dummy index.
-	As the time span of interest goes from the first year to the end of the last year,
+	As the time span of interest goes from the first year to the beginning
+        of the year following the last year,
         variable $\gamma_n$ will have $N_n + 1$ elements.
 	Parameters indexed for inflation will be indicated by a bar on top as in $\bar{\sigma}_n$.
 \item [$\sigma_n$]
@@ -218,7 +219,7 @@ Parameter values are either set by the user, historical data, or by the tax code
 	brackets are adjusted accordingly.
 \item [$\theta_{tn}$]
 	Tax rate for tax bracket $t$ in year $n$. Using $N_t$ time series allows to adjust income
-	tax rates in foreseeable future.
+	tax rates in the foreseeable future.
 	For example, in 2024 the rates (in decimal) are .10, .12, .22, .24, .32, .35, and .37.
 	It is speculated that the rates will revert back to 2017 rates in 2026 with
 	.10, .15, .25, .28, .33, .35, and .396. See Eq.~(\ref{Eq:IncTax0}) for its use.
@@ -286,8 +287,8 @@ or an s-curve as in
 	(e.g., sell a house, inheritance) or negative (e.g., buy a house, large gifts).
 \item [$\pi_{in}$]
 	Sum of pension benefits for individual $i$ in year $n$. These amounts are typically
-	specified along with the ages at which these benefits begin. Owl currently assumes
-	that pensions are not indexed for inflation, but that functionality can easily be added.
+	specified along with the ages at which these benefits begin. Pensions
+	can optionally be indexed for inflation.
 \item [$\zeta_{in}$]
 	Social security benefits for individual $i$ in year $n$. Starting age and the passing
 	of one individual for spouses will determine the time series. $\bar{\zeta}_{in}$ is
@@ -298,7 +299,8 @@ or an s-curve as in
 	for the heirs expressed in today's dollars. See parameter $\nu$ for the heirs tax rate.
 \item [$\kappa_{ijn}$]
 	Sum of contributions to savings account $j$ made by individual $i$ during year $n$.
-	We assume that contributions are made at half-year to balance regular contributions.
+	We assume that contributions are made at half-year to better represent periodic
+        contributions made throughout the year.
 	In practice, a contribution
 	amount $\kappa_{ijn}$ is specified in which case the contribution to each asset
 	class is
@@ -309,7 +311,7 @@ or an s-curve as in
 	Sum of wages obtained by individual $i$ during year $n$.
 	Do not confuse wages $\omega$ with withdrawals $w$.
 \item [$\mu$]
-	Dividend return rate in taxable accounts. Average is little above 2\% for S\&P 500.
+	Dividend return rate for equities in taxable accounts. Average is little above 2\% for S\&P 500.
 \item [$\nu$]
 	Heirs income tax rate to be applied on the tax-deferred portion of the estate. This is not an estate tax
 	but rather the federal income marginal tax rate for the heirs.
@@ -359,8 +361,8 @@ or an s-curve as in
 		\label{Eq:IRMAA}
 		\mathcal{M}_n = \sum_{iq} z_{iqn} \bar{C}_{qn}.
 	\end{equation}
-	If the plan does not have data from 2 years ago as Medicare starts,
-	it will use last year's or this year's MAGI instead, in that order.
+	If the plan needs data from 1 or 2 years ago as Medicare has already started or will in the next years,
+        values for years before current year need to be provided.
 
 	While this approach has been implemented and tested, the robustness of the {\em big M} approach
 	is not guaranteed. Moreover, the introduction of a large number ($5\times N_i\times N_m$,
@@ -409,7 +411,7 @@ All intermediate variables are in uppercase letters.
 
 \item [$Q_n$]
 	Qualified dividends and long-term capital gains obtained in year $n$.
-	They only involve gains occurring in taxable savings accounts $(j=0)$ that
+	They only involve dividends occurring in the taxable savings accounts $(j=0)$ that
 	were obtained from equities $(k=0)$, or sales of stocks due to withdrawals
 	from taxable savings accounts.
 	For simplicity, we assume that all equity sales only generate long-term capital gains and
@@ -422,10 +424,10 @@ All intermediate variables are in uppercase letters.
 	A formulation where only a fraction of dividends are qualified can easily be
 	implemented with the addition of another parameter.
 	Notice that we are using return rates from the previous year.
-	The first terms on the right-hand side represent the amount of equities $(k=0)$ in the $(j=0)$
-	taxable savings account plus
-	half the yearly contributions. The last terms account for withdrawals $w$ of equities assumed
-	to have been purchased a year ago. 
+	The first terms on the right-hand side represent dividends generated by
+        equities $(k=0)$ in the $(j=0)$ taxable savings account plus
+	half the yearly contributions. The second term account for withdrawals $w$
+        of equities assumed to have been purchased a year ago. 
 	It does not account for losses, but a market drop
 	would most likely result in stock purchase rather than sale.
 	For withdrawals, we make the assumption of

{owlplanner-2025.2.15 → owlplanner-2025.2.20}/pyproject.toml

@@ -4,7 +4,7 @@ build-backend = "hatchling.build"
 
 [project]
 name = "owlplanner"
-version = "2025.02.15"
+version = "2025.02.20"
 authors = [
   { name="Martin-D. Lacasse", email="martin.d.lacasse@gmail.com" },
 ]

{owlplanner-2025.2.15 → owlplanner-2025.2.20}/src/owlplanner/plan.py

@@ -306,10 +306,8 @@ class Plan(object):
             endyear = thisyear + self.horizons[i] - 1
             self.mylog.vprint(f"{self.inames[i]:>14}: life horizon from {thisyear} -> {endyear}.")
 
-        # Prepare income tax and RMD time series.
+        # Prepare RMD time series.
         self.rho_in = tx.rho_in(self.yobs, self.N_n)
-        self.sigma_n, self.theta_tn, self.Delta_tn = tx.taxParams(self.yobs, self.i_d, self.n_d,
-                                                                  self.N_n, self.yTCJA)
 
         # If none was given, default is to begin plan on today's date.
         self._setStartingDate(startDate)
@@ -452,6 +450,7 @@ class Plan(object):
         self.mylog.vprint(f"Setting TCJA expiration year to {yTCJA}.")
         self.yTCJA = yTCJA
         self.caseStatus = "modified"
+        self._adjustedParameters = False
 
     def setLongTermCapitalTaxRate(self, psi):
         """
@@ -990,11 +989,13 @@ class Plan(object):
 
         if not self._adjustedParameters:
             self.mylog.vprint("Adjusting parameters for inflation.")
+            self.sigma_n, self.theta_tn, self.Delta_tn = tx.taxParams(self.yobs, self.i_d, self.n_d,
+                                                                      self.N_n, self.yTCJA)
+            self.sigmaBar_n = self.sigma_n * self.gamma_n[:-1]
             self.DeltaBar_tn = self.Delta_tn * self.gamma_n[:-1]
             self.zetaBar_in = self.zeta_in * self.gamma_n[:-1]
-            self.sigmaBar_n = self.sigma_n * self.gamma_n[:-1]
             self.xiBar_n = self.xi_n * self.gamma_n[:-1]
-            self.piBar_in = self.pi_in
+            self.piBar_in = np.array(self.pi_in)
             for i in range(self.N_i):
                 if self.pensionIndexed[i]:
                     self.piBar_in[i] *= self.gamma_n[:-1]

owlplanner-2025.2.20/src/owlplanner/version.py

@@ -0,0 +1 @@
+__version__ = "2025.02.20"

{owlplanner-2025.2.15 → owlplanner-2025.2.20}/tests/test_repro.py

@@ -36,7 +36,7 @@ def test_case1():
     p = createJackAndJillPlan('case1')
     p.setRates('historical', 1969)
     p.solve('maxSpending', options={'maxRothConversion': 100, 'bequest': 500})
-    assert p.basis == pytest.approx(81918.4, abs=0.5)
+    assert p.basis == pytest.approx(81978.0, abs=0.5)
     assert p.bequest == pytest.approx(500000, abs=0.5)
 
 
@@ -45,7 +45,7 @@ def test_case2():
     p.setRates('historical', 1969)
     p.solve('maxBequest', options={'maxRothConversion': 100, 'netSpending': 80})
     assert p.basis == pytest.approx(80000, abs=0.5)
-    assert p.bequest == pytest.approx(592543, abs=0.5)
+    assert p.bequest == pytest.approx(595407.5, abs=0.5)
 
 
 def test_config1():
@@ -54,7 +54,7 @@ def test_config1():
     p.setRates('historical', 1969)
     p.solve('maxBequest', options={'maxRothConversion': 100, 'netSpending': 80})
     assert p.basis == pytest.approx(80000, abs=0.5)
-    assert p.bequest == pytest.approx(592543, abs=0.5)
+    assert p.bequest == pytest.approx(595407.5, abs=0.5)
     p.saveConfig()
     base_filename = 'case_' + name
     full_filename = 'case_' + name + '.toml'
@@ -62,11 +62,11 @@ def test_config1():
     p2 = owl.readConfig(base_filename)
     p2.solve('maxBequest', options={'maxRothConversion': 100, 'netSpending': 80})
     assert p2.basis == pytest.approx(80000, abs=0.5)
-    assert p2.bequest == pytest.approx(592543, abs=0.5)
+    assert p2.bequest == pytest.approx(595407.5, abs=0.5)
     p3 = owl.readConfig(full_filename)
     p3.solve('maxBequest', options={'maxRothConversion': 100, 'netSpending': 80})
     assert p3.basis == pytest.approx(80000, abs=0.5)
-    assert p3.bequest == pytest.approx(592543, abs=0.5)
+    assert p3.bequest == pytest.approx(595407.5, abs=0.5)
     os.remove(full_filename)
 
 
@@ -76,14 +76,14 @@ def test_config2():
     p.setRates('historical', 1969)
     p.solve('maxBequest', options={'maxRothConversion': 100, 'netSpending': 80})
     assert p.basis == pytest.approx(80000, abs=0.5)
-    assert p.bequest == pytest.approx(592543, abs=0.5)
+    assert p.bequest == pytest.approx(595407.5, abs=0.5)
     iostring = StringIO()
     p.saveConfig(iostring)
     # print('iostream:', iostream.getvalue())
     p2 = owl.readConfig(iostring)
     p2.solve('maxBequest', options={'maxRothConversion': 100, 'netSpending': 80})
     assert p2.basis == pytest.approx(80000, abs=0.5)
-    assert p2.bequest == pytest.approx(592543, abs=0.5)
+    assert p2.bequest == pytest.approx(595407.5, abs=0.5)
 
 
 def test_clone1():
@@ -92,12 +92,12 @@ def test_clone1():
     p.setRates('historical', 1969)
     p.solve('maxBequest', options={'maxRothConversion': 100, 'netSpending': 80})
     assert p.basis == pytest.approx(80000, abs=0.5)
-    assert p.bequest == pytest.approx(592543, abs=0.5)
+    assert p.bequest == pytest.approx(595407.5, abs=0.5)
     name2 = 'testclone2'
     p2 = owl.clone(p, name2)
     p2.solve('maxBequest', options={'maxRothConversion': 100, 'netSpending': 80})
     assert p2.basis == pytest.approx(80000, abs=0.5)
-    assert p2.bequest == pytest.approx(592543, abs=0.5)
+    assert p2.bequest == pytest.approx(595407.5, abs=0.5)
 
 
 def test_clone2():
@@ -105,10 +105,10 @@ def test_clone2():
     p = createJackAndJillPlan(name)
     p.setRates('historical', 1969)
     p.solve('maxSpending', options={'maxRothConversion': 100, 'bequest': 0})
-    assert p.basis == pytest.approx(92258, abs=0.5)
+    assert p.basis == pytest.approx(92317.5, abs=0.5)
     assert p.bequest == pytest.approx(0, abs=0.5)
     name2 = 'testclone2'
     p2 = owl.clone(p, name2)
     p2.solve('maxSpending', options={'maxRothConversion': 100, 'bequest': 0})
-    assert p2.basis == pytest.approx(92258, abs=0.5)
+    assert p2.basis == pytest.approx(92317.5, abs=0.5)
     assert p2.bequest == pytest.approx(0, abs=0.5)

{owlplanner-2025.2.15 → owlplanner-2025.2.20}/ui/Quick_Start.py

@@ -24,8 +24,9 @@ This file is in *toml* format which is editable with a simple text editor.
 time table with anticipated wages, future contributions
 to savings accounts, and anticipated big-ticket items, which can be either expenses or income.
 This file is in Excel or LibreOffice format, and has one tab per individual in the plan.
+If no file is provided, values will default to zero, but these values can be edited in the app.
 
-With these two files, a scenario can be created and solved in only a few steps. We will use the case
+With these two files, a scenario can be created and solved with only a few steps. We will use the case
 of Jack and Jill provided here as an example:
 1) Download these two files from the GitHub repository
  (right-click on the link and select `Save link as...`):
@@ -46,7 +47,7 @@ experiment with different parameters.
 
 For creating your own cases, you can start
 from scratch by selecting `New Case...` in the selection box while on the **Create Case** page,
-and fill in the information needed on each page of the `Case Setup` section.
+and fill in the information needed on each page in the `Case Setup` section.
 Once a case has been fully parameterized and successfully optimized,
 its parameters can be saved by using the `Download case file...` button on the `Output Files` page.
 

{owlplanner-2025.2.15 → owlplanner-2025.2.20}/ui/Rates_Selection.py

@@ -210,23 +210,24 @@ else:
 
     st.divider()
     st.write("### Other rates")
-    col1, col2 = st.columns(2, gap="large", vertical_alignment="top")
+    col1, col2, col3 = st.columns(3, gap="large", vertical_alignment="top")
     with col1:
         kz.initKey("divRate", 2)
         helpmsg = "Average annual (qualified) dividend return rate on stock portfolio for income tax purposes."
         ret = kz.getNum("Dividend rate (%)", "divRate", max_value=100.0, format="%.2f", help=helpmsg, step=1.0)
 
     st.write("#### Income taxes")
-    col1, col2 = st.columns(2, gap="large", vertical_alignment="top")
+    col1, col2, col3 = st.columns(3, gap="large", vertical_alignment="top")
     with col1:
         kz.initKey("gainTx", 15)
         ret = kz.getNum("Long-term capital gains tax rate (%)", "gainTx", max_value=100.0, step=1.0)
 
-        kz.initKey("yTCJA", 2026)
-        helpmsg = "Year at which the Tax Cut And Job Act tax rates are speculated to expire."
-        ret = kz.getIntNum("TCJA expiration year", "yTCJA", help=helpmsg)
-
     with col2:
         kz.initKey("heirsTx", 30)
         helpmsg = "Marginal tax rate that heirs would have to pay on inherited tax-deferred balance."
         ret = kz.getNum("Heirs marginal tax rate (%)", "heirsTx", max_value=100.0, help=helpmsg, step=1.0)
+
+    with col3:
+        kz.initKey("yTCJA", 2026)
+        helpmsg = "Year at which the Tax Cut And Job Act tax rates are speculated to expire."
+        ret = kz.getIntNum("TCJA expiration year", "yTCJA", help=helpmsg)

{owlplanner-2025.2.15 → owlplanner-2025.2.20}/ui/requirements.txt

@@ -7,4 +7,4 @@ scipy
 streamlit
 toml
 # --extra-index-url https://test.pypi.org/simple
-owlplanner >= 2025.02.15
+owlplanner >= 2025.02.20

owlplanner-2025.2.15/src/owlplanner/version.py

@@ -1 +0,0 @@
-__version__ = "2025.02.15"