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Social Security

Posted: Sat Apr 26, 2014 9:50 am
by chick
Where and how is social security handled? I am 80 wife is 78 on SS, retired, on SS since age 65.

Re: Social Security

Posted: Sat Apr 26, 2014 11:01 am
by jimr

Thanks for posting a question.

You could just add in any social security payments to the income entry that's shown in the main planner window. However, if you'd like to enter each SS cash flow for each spouse, starting at different times, and with different income tax handling, it's probably best to use the additional inputs feature of the planner.

To access this, click on the "Additional Inputs" button on the right hand side of the screen. A new Additional Inputs window should pop up with a top and bottom section. Income and expense cash flows are entered in the bottom of this new window.

On the lower left side, there should be a cashflow type called social security. Depending on your exact situation, it probably makes sense to make two entries, one for each spouse, assuming they each receive SS.

Please don't hesitate to post again if that's not clear or you have other questions,