The settings here determine if and how Social Security is included in the analysis.
Include Social Security
Determines if Social Security is included in the illustration. (See the FAQ entry for Social Security for more information on how Social Security is calculated).
Social Security Starts
Select the method (either Retirement Age or No Penalty Age) for starting Social Security. Social Security will not start before age 62.
| Note: | The following prompts allow for the software to be conservative in estimating the Social Security value. |
Percent of Inflation that Social Security Increases (pre-retirement)
TRAK calculates Social Security income at retirement for each client by trending Social Security values for the last 20 years. A 100% value here will use the historical average. Decreasing this percentage (e.g. 90%) will result in a significant reduction in Social Security income at retirement for younger clients.
Percent of the Calculated Social Security Value to Use (at Retirement)
Enter the percent of the calculated Social Security to use for the projections. This allows for being conservative in the amount of income the client will receive from Social Security.
Maximum Inflation for Social Security During Retirement
Enter the maximum inflation that Social Security can have in retirement.
