Where do I enter my annual, recurring living expenses in retirement?

Enter this in the 'Annual Living Expenses in Retirement' input box as seen below. This entry is for annual, recurring expenses once retired. For expenses that will occur before retirement or will not happen every year, enter these in the https://support.mywealthtrace.com/21145/kb/article/107333/where-to-add-expenses-that-only-last-a-few-years" target="_blank Goals & Additional Expenses section. [...]

Are my Medicare premiums deduction from my Social Security payment automatically in the program?

WealthTrace does not deduct Medicare premiums from the Social Security payment. When entering your Social Security payment, you want to use the total payment. Do not deduct Medicare premiums. The program has an option to https://support.mywealthtrace.com/21145/kb/article/110695/medicare-premiums-and-cost-of-health-care-once-on-medicare" target="_blank calculate Medicare premiums for you as a [...]

I noticed that the income used for the IRMAA calculation is way higher and lower in some years compared to other income. Why is that?

The income used for https://support.mywealthtrace.com/21145/kb/article/110695/medicare-premiums-and-cost-of-health-care-once-on-medicare" target="_blank IRMAAis the modified adjusted gross income (MAGI) from two years prior if the program has the two year prior number for this. In other words, if today's year is 2024 then the two year lagged MAGI for IRMAA will be used starting in 2026 and [...]

I noticed when I turned on the setting for 'Rebalance Investments Annually" the value for Projected Investment Value at End of Plan went down. Why is that?

When the setting for https://support.mywealthtrace.com/21145/kb/article/111432/rebalance-setting" target="_blank Rebalance Investments Annually is off, the investments with the higher annual return will keep growing and compounding at the higher annual rate of return. That is why the total balance over time usually increases when this setting is turned [...]

Is investment growth used for expenses? If there is investment growth not used, where does it go?

Investment growth will be used for expenses if needed. You can read about the order of income sources used https://support.mywealthtrace.com/21145/kb/article/108286/what-is-the-order-of-how-income-and-investments-are-used-for-expenses" target="_blank here. If there is investment growth left over, it is reinvested back into the investment from which it [...]