owlplanner 2025.3.14__tar.gz → 2025.3.15__tar.gz

{owlplanner-2025.3.14 → owlplanner-2025.3.15}/PKG-INFO

@@ -1,6 +1,6 @@
 Metadata-Version: 2.4
 Name: owlplanner
-Version: 2025.3.14
+Version: 2025.3.15
 Summary: Owl: Retirement planner with great wisdom
 Project-URL: HomePage, https://github.com/mdlacasse/owl
 Project-URL: Repository, https://github.com/mdlacasse/owl

{owlplanner-2025.3.14 → owlplanner-2025.3.15}/docs/owl.tex

@@ -87,7 +87,7 @@ index name as a subscript, e.g., $N_i$ for index $i$.
 	More asset classes could be considered at the cost of increasing
 	the complexity of the problem while not generating much more insights.
 \item [$n$]
-	Year being modeled. Period being modeled runs from the beginning of year 0 to 
+	Index of year being modeled. Period being modeled runs from the beginning of year 0 to 
 	the end of year $N_n-1$, and therefore $N_n + 1$ years are considered.
 	Year $N_n$ is the first year following the passing of all
 	individuals in the plan. The time period for all decision variables is annual.
@@ -435,24 +435,32 @@ All intermediate variables are in uppercase letters.
 	the taxable savings account is being depleted slowly. An implementation keeping track
 	of stock purchases and sales is beyond the goal of providing a guide for retirement decisions.
 
+\item [$P_n$]
+	Amount of 10\% early withdrawal penalty in year $n$,
+	\begin{equation}
+		\label{Eq:PenTax0}
+		P_n = 0.10 \sum_{i, j\neq0} (1 - \mathcal{H}(n - n_{i,59})) w_{ijn}.
+	\end{equation}
+        Here, $H(n - n_{i, 59})$ is a Heavyside step function which is 0 or 1, depending on the sign of
+        its argument:
+	\begin{equation}
+	\mathcal{H}(x) :=
+	\begin{cases}
+         0 & x < 0 \\
+         1 & x \geq 0.
+	\end{cases}
+	\end{equation}
+        The variable $n_{i, 59}$ is the year index when individual $i$ turns 59,
+	or 0 if already 59 years old or older.
+
 \item [$T_n$]
 	Amount of income tax paid on taxable ordinary income $G_n$ in year $n$.
 	This is the taxes paid on ordinary income expressed as the sum of the amounts
 	paid in each tax bracket as
 	\begin{equation}
 		\label{Eq:IncTax0}
-		T_n = \sum_t f_{tn}\bar{\Delta}_{tn}\theta_{tn} + 0.10 \sum_i (1 - \mathcal{H}(n - n_{i,60})) w_{i1n},
+		T_n = \sum_t f_{tn}\bar{\Delta}_{tn}\theta_{tn}.
 	\end{equation}
-        where $H(n - n_{i, 60})$ is a Heavyside step function which is 0 or 1, depending on the sign of
-        its argument:
-        \[
-	\mathcal{H}(x) \def 	
-	\begin{cases}
-         0 & x < 0 \\
-         1 & x \geq 0. \\
-	\end{cases}
-         \]
-        Here, $n_{i, 60}$ is the year when individual $i$ will turn 60.
 	Notice that $G_n$ is also defined by Eq.~(\ref{Eq:Tx1}), and that optimal
 	values of $f_{tn}$ have to
 	minimize $T_n$ when either the bequest or the desired net spending are maximized.
@@ -463,8 +471,9 @@ All intermediate variables are in uppercase letters.
 	filling in the lower brackets first when optimizing. In that case
 	\begin{equation}
 		\label{Eq:IncTax1}
-		T_n = \sum_t \bar{F}_{tn} \theta_{tn}.
+		T_n = \sum_t \bar{F}_{tn} \theta_{tn}
 	\end{equation}
+
 \item [$U_n$]
 	Amount of income tax paid on long-term capital gains and qualified dividends in year $n$,
 	\begin{equation}
@@ -698,7 +707,7 @@ add the market returns to the savings balances.
 	\begin{eqnarray}
 		g_n = \sum_i [\omega_{in} + \bar{\zeta}_{in} + \pi_{in} ] 
 		+ \sum_{ij} w_{ijn} + \sum_i \Lambda^\pm_{in} - s_{n}
-		- T_n - U_n - \mathcal{M}^\ell_n.
+		- P_n - T_n - U_n - \mathcal{M}^\ell_n.
 	\end{eqnarray}
 	When both spouses are alive, surplus $s_n$ gets deposited in the taxable accounts
 	according to variable $\eta$ as described in Eq.~(\ref{Eq:eta}),
@@ -712,7 +721,7 @@ add the market returns to the savings balances.
 	Replacing intermediate variables and bringing all variables to the left-hand side, we get
 	\begin{eqnarray}
 		\label{Eq:C4}
-		g_n - \sum_{ij} w_{ijn} + s_{n}
+		g_n - \sum_{ij} w_{ijn} + 0.1 \sum_{i,j\neq0} (1-\mathcal{H}(n - n_{i, 59})) w_{ijn} + s_n
 		+ \sum_t \bar{F}_{tn} \theta_{t n} &&\nonumber \\
 		+ \psi\alpha_{i00n} \sum_{i} \left[\mu(b_{i0n} - w_{i0n} + d_{in})
 		+ w_{i0n}\max(0, \tau_{0n-1})\right] 
@@ -1020,7 +1029,7 @@ For the equality constraint on net spending expressed in Eq.~(\ref{Eq:C4}),
 we add $N_n$ more rows to $A_ey = v$ as
 \begin{eqnarray}
 	A_e[J_2(n), q_g(n)] &=& 1, \nonumber \\
-	A_e[J_2(n), q_w(i, j ,n)] &=& -1 + \delta(j, 0)\psi\alpha_{i00n}(\max(0, \tau_{0n-1}) - \mu), \nonumber \\
+	A_e[J_2(n), q_w(i, j ,n)] &=& -1 + .1(1-\delta(j, 0))(1-\mathcal{H}(n-n_{i, 59})) + \delta(j, 0)\psi\alpha_{i00n}(\max(0, \tau_{0n-1}) - \mu), \nonumber \\
 	A_e[J_2(n), q_d(i, n)] &=& 1 + \psi\mu\alpha_{i00n}, \nonumber \\
 	A_e[J_2(n), q_F(t, n)] &=& \theta_{t n}, \nonumber \\
 	A_e[J_2(n), q_b(i, 0, n)] &=& \psi\mu\alpha_{i00n}, \nonumber \\

{owlplanner-2025.3.14 → owlplanner-2025.3.15}/pyproject.toml

@@ -4,7 +4,7 @@ build-backend = "hatchling.build"
 
 [project]
 name = "owlplanner"
-version = "2025.03.14"
+version = "2025.03.15"
 authors = [
   { name="Martin-D. Lacasse", email="martin.d.lacasse@gmail.com" },
 ]

{owlplanner-2025.3.14 → owlplanner-2025.3.15}/src/owlplanner/plan.py

@@ -1284,19 +1284,15 @@ class Plan(object):
                 # Minus capital gains on taxable withdrawals using last year's rate if >=0.
                 # Plus taxable account withdrawals, and all other withdrawals.
                 row.addElem(_q3(Cw, i, 0, n, Ni, Nj, Nn), fac * (tau_0prev[n] - self.mu) - 1)
-                row.addElem(_q3(Cw, i, 1, n, Ni, Nj, Nn), -1)
-                row.addElem(_q3(Cw, i, 2, n, Ni, Nj, Nn), -1)
+                penalty = 0.1 if n < self.n59[i] else 0
+                row.addElem(_q3(Cw, i, 1, n, Ni, Nj, Nn), -1 + penalty)
+                row.addElem(_q3(Cw, i, 2, n, Ni, Nj, Nn), -1 + penalty)
                 row.addElem(_q2(Cd, i, n, Ni, Nn), fac * self.mu)
 
             # Minus tax on ordinary income, T_n.
             for t in range(Nt):
                 row.addElem(_q2(CF, t, n, Nt, Nn), self.theta_tn[t, n])
 
-            # Minus 10% penalty on early withdrawals.
-            if n < self.n59[i]:
-                row.addElem(_q3(Cw, i, 1, n, Ni, Nj, Nn), 0.1)
-                row.addElem(_q3(Cw, i, 2, n, Ni, Nj, Nn), 0.1)
-
             A.addRow(row, rhs, rhs)
 
         # Impose income profile.
@@ -1978,12 +1974,12 @@ class Plan(object):
         self.G_n = np.sum(self.F_tn, axis=0)
         self.T_tn = self.F_tn * self.theta_tn
         self.T_n = np.sum(self.T_tn, axis=0)
-        self.penalty_n = np.zeros(Nn)
-        # Add early withdrawal penalties if any.
+        self.P_n = np.zeros(Nn)
+        # Add early withdrawal penalty if any.
         for i in range(Ni):
-            self.penalty_n[0:self.n59[i]] += 0.1*(self.w_ijn[i, 1, 0:self.n59[i]] + self.w_ijn[i, 2, 0:self.n59[i]])
+            self.P_n[0:self.n59[i]] += 0.1*(self.w_ijn[i, 1, 0:self.n59[i]] + self.w_ijn[i, 2, 0:self.n59[i]])
 
-        self.T_n += self.penalty_n
+        self.T_n += self.P_n
 
         tau_0 = np.array(self.tau_kn[0, :])
         tau_0[tau_0 < 0] = 0
@@ -2126,8 +2122,8 @@ class Plan(object):
             dic[f"-- Subtotal in tax bracket {tname}"] = f"{u.d(taxPaidNow)}"
             dic[f"-- [Subtotal in tax bracket {tname}]"] = f"{u.d(taxPaid)}"
 
-        penaltyPaid = np.sum(self.penalty_n, axis=0)
-        penaltyPaidNow = np.sum(self.penalty_n / self.gamma_n[:-1], axis=0)
+        penaltyPaid = np.sum(self.P_n, axis=0)
+        penaltyPaidNow = np.sum(self.P_n / self.gamma_n[:-1], axis=0)
         dic["-- Subtotal in early withdrawal penalty"] = f"{u.d(penaltyPaidNow)}"
         dic["-- [Subtotal in early withdrawal penalty]"] = f"{u.d(penaltyPaid)}"
 

owlplanner-2025.3.15/src/owlplanner/version.py

@@ -0,0 +1 @@
+__version__ = "2025.03.15"

{owlplanner-2025.3.14 → owlplanner-2025.3.15}/ui/requirements.txt

@@ -7,4 +7,4 @@ scipy
 streamlit
 toml
 # --extra-index-url https://test.pypi.org/simple
-owlplanner >= 2025.03.14
+owlplanner >= 2025.03.15

owlplanner-2025.3.14/src/owlplanner/version.py

@@ -1 +0,0 @@
-__version__ = "2025.03.14"