Just want to make sure I have this all straight --
Income is the total income from all sources (wages, investments, SS, Real Estate)
Spending is the total of spending from all source (Housing, Taxes, Medicare..including expenses identified in the special expense entry) but does not include discretionary spending such as vacations or Green Fees
Until recently, I’ve always used the default settings for the SOL index (ie, a constant 100% SOL for my & my wife’s early retirement at age 58 through 100). However, after a lot of thinking and reading (1 – see note below), I’m now firmly convinced I get a more realistic model by changing the SOL index as follows:
Age band 58-64: 100% SOL
Age band 65-74: -2% decrease per year (ie, SOL index of 98%, 96%, 94% etc thru age 80 when SOL is 80%)
Age band 75-84: drop to 75% SOL and maintained at 75% thru age 84
I've Retired early and I'm income constrained for a few years until Social Security begins. Is there a way that I can have ESP increase withdrawals from my IRA's for a few years to increase (and smooth) income. I tried changing Std of Living to a number greater than 100% for these years with no change that I can see in the PDF report. I also tried decreasing Std of Living for my remaining years after this period with no apparent change either. Should this method work and is something broken, and/or is there a better way to accomplish this?
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