Firecalc Questions

[Engineer]

I'm 47 and according to Firecalc, Social Security is important to my Portfolio succeeding. For those roughly my age and that decide to enter values for Social Security, do you use what your SSA Statement provides? If not, what percentage of that do you feel is realistic?

Also, in Firecalc, do you also enter *Annual* pension values, like Social Security?

Thanks,
Greg

 

[Rich_by_the_Bay]

Use the numbers from your SS statement. The Other Income tab has a place for other pensions - careful with your entries there since the same line is used for additional (nonroutine) expenses.

 

[Behan]

Greg, I'm about your age and a since a lot can (and probably will) change with social security in the next 20+ years I do not include anything for it in my plan. Realistically I believe we will get something, but since it is not in my control I am not planning on it.

I think the SS Statement assumes you keep earning at your current rate until 'retirement age', so if you plan on RE then you need to adjust the numbers down. You can use the SS estimator at http://www.ssa.gov/estimator/