When you first begin, the program will walk you through the process of entering your data and generating your "base" financial plan. The process is simple, and you can leave and come back later if you run out of time to work on your plan. Here's what to expect:
- First you'll provide some basic demographic information about the members of your family such as birthdates and marital status.
- Then you'll enter financial details for adults and general financial info for the household.
- Once your data is entered you can generate your first plan! You'll be able to revisit and manage the financial data and try different scenarios.
Creating a family profile is not a difficult task, though there are two time savers to keep in mind:
- Importing Social Security earnings history from your account at the Social Security Administration website is the quickest way to enter your earnings history, which in most cases is required for MaxiFi to calculate your family SS benefit.
- New users who have an active account at Maximize My Social Security (MMSS) can import their basic family data, including earnings history, but this needs to be done before setting up a family. In other words, the import will set up the family and if a family profile already exists, a second one cannot be added. If you have started creating a family profile and decide that you want to import your family data from MMSS, you would need to first delete your existing family.
You can learn more here about importing your SS earnings history.