Your Base Plan
A complete lifetime roadmap for your income, spending, savings and life insurance needs
Once you have input your data, the software will present your Base Plan—a complete lifetime roadmap for your income, spending, savings and life insurance needs.
You can return to this Base Plan at any time to update with new information or expectations, or to see how your plan is impacted when trying to make life-changing decisions—whether to take a new job, when to buy a new home—or everyday decisions like how much to budget for groceries or entertainment.
Minimal, easy online data entry:
- Current and expected earnings
- Account balances for savings, checking, investment, and retirement accounts
- Expected contributions to retirement accounts—your contributions and your employers’ contributions
- Account balances and expected withdrawals for 529 Education Savings Accounts
- Pensions
- Social Security covered earnings and current benefits (if any)
- Primary and vacation home expenses (rent, mortgage, condo fees, etc.)
- Real estate holdings, receipts, and expenses
- Other expected major expenses or receipts
Clear, detailed and comprehensive reports:
- Lifetime Balance Sheet showing Projected Lifetime Income and Projected Lifetime Spending
- Annual income
- Annual spending—fixed and discretionary
- Annual suggested savings and withdrawals from non-retirement accounts (stocks, bonds, mutual funds)
- Annual suggested withdrawals from retirement accounts
- Annual cash flow for income for each spouse if married
- Annual household net worth
- Annual taxes – Federal, State and FICA
- Annual Social Security benefits
Adjust and re-run your plan as often as you'd like
Export as PDF or Excel
Your Maximized Plan
Maximize your Base Plan to find ways to safely raise your annual discretionary spending
Once you’ve created your Base Plan, MaxiFi's optimization engine can analyze thousands of scenarios to find ways to safely raise your annual discretionary spending—potentially increasing it by hundreds of thousands of dollars over your lifetime.
- Finds the best Social Security filing strategy to get the highest benefits for you and your spouse
- Calculates tax efficient retirement account withdrawal start dates
- Shows tax efficient Roth versus non-Roth withdrawals
- Examines the benefit of additional retirement account contributions
- Shows the effects of annuitizing all or part of your retirement accounts
Your Progress Tracker
Stay on track with your plan's spending and saving targets
When you're happy with your Base Plan, set up your Progress Tracker for the year with a few clicks. This tool helps you keep on track to meet the key spending and savings numbers in your plan. It also allows you to make sure your income expectations for the year match your actual income.
- Set and update income, fixed spending, and savings targets for the year automatically from your Base Plan
- Create spending target categories based on a typical household budget or create your own
- Easily view and update your progress throughout the year at any time from any device
- Export categories and transactions to Excel
Your Risk Analysis
Assess risk with powerful Living Standard Monte Carlo™ analysis
MaxiFi's Living Standard Monte Carlo™ analysis feature shows the impact of different investment strategies and spending behaviors on your bottom line – your living standard.
- Our Monte Carlo analysis simulates hundreds of living standard trajectories you might experience given your investing strategies and spending behavior.
- Adjust your investment strategies and spending behavior to generate different sets of trajectories until you achieve the right balance of risk and reward.
- Use our pre-set common investment strategies, such as shifting from a stock-heavy to bond-heavy portfolio as you age, to quickly assess risk and reward.
- Use our pre-set common assets--with decades-long return histories--to define alternative investment strategies. You can also define your own assets.
Learn More: How Our Living Standard Monte Carlo™ Analysis Works
Our Calculations
MaxiFi puts the most powerful, accurate financial planning approach into your hands
Based on years of research and fine-tuning, MaxiFi’s Economic Security Computation Engine puts the most powerful, accurate financial planning approach into your hands. Find out what makes our software smarter and better. Our engine makes highly detailed annual Federal and State tax calculations and considers the full range of Social Security benefits.
We allow you control over dozens of settings so you can model different maximum ages, inflation rates, changes to Social Security benefits or tax rates, and many others.
Tax Considerations
Fully updated with Tax Cuts and Jobs Act of 2017 changes!
- Federal income taxes
- FICA taxes
- State income taxes
- The Alternative Minimum Tax
- Itemization decision
- Tax credits
- Deductions and exemptions
- Capital gains and dividends
- State-specific schedules
- Social Security benefit taxation
- Federal bracket indexation
- Capital gains on home sales
- Municipal bond preference
- Self-employment tax
Social Security Benefits
- Retirement benefits
- Spousal and divorced spousal benefits
- Child-in-care spousal benefits
- Widow(er) and divorced widow(er) benefits
- Mother (father) benefits
- Child and disabled child benefits
- Child survivor benefits
Social Security Rules and Provisions
- New Social Security law grandfathering rules
- Early benefit reductions
- Delayed retirement credits
- Deeming
- The earnings test
- Adjustment of the reduction factor
- Re-computation of benefits
- Family benefit maximum
- Disabled family benefit maximum
- RIB-LIM formula
- Windfall Elimination Provision
- Government Pension Offset
