Downloadable tools for retirement planning and execution
We are proud to offer WealthProbe, a tool that allows you to analyze your retirement plan, giving you a picture of how your plan is working. An example of how WealthProbe might be used follows.
After several ‘what-if’ iterations (easily accomplished using the user-friendly interface) the couple found they could keep their other reasonable assumptions and simply postpone their retirement date for 4 years to January 2037. That resulted in their delaying taking social security, which increased their payments significantly when they started taking it.
The updated scenario is shown in the figure above, where the cursor has again been positioned at the month before retirement (December 2036). With this postponement of their retirement date, the couple has $78,092 on their Target Date. This money would allow them to continue to support themselves into April of 2053, if need be, giving them a small margin of error in case their assumptions are a little off. Notice the greatly increased slope downward starting in the Nursing Phase. For planning purposes, the couple has assumed their total expenses will roughly double, with one of them requiring assisted living during the 4-year Nursing phase.
If you’d like to investigate WealthProbe further, visit the WealthProbe website.