Why does my Monte Carlo simulation show a 0% success probability when I still have money in my retirement accounts?

WealthTrace can show a 0% Monte Carlo success probability when your taxable funds run out before you can access your qualified, tax-deferred retirement accounts. For example, if you retire before age 59½ and your taxable accounts are depleted, WealthTrace considers your plan unsuccessful even if you have significant funds remaining in your IRA or 401(k). A 0% success probability does not mean [...]

Why is my income or expense amount lower than what I entered for the current year?

WealthTrace uses the full annual income and expense amounts you enter in your plan. However, for the current year, only the amount remaining for the year is displayed in your projections. For example, if you enter $36,000 in annual Social Security income, WealthTrace uses the full $36,000 for the current year but only displays the prorated amount expected for the remaining months. Your full [...]

Should I enter my Social Security estimate in today’s dollars or future dollars?

When entering Social Security income in WealthTrace, enter your estimated benefit in today's dollars. This is the amount currently shown on your Social Security benefit estimate. Why Social Security Is Entered in Today's Dollars The Social Security Administration generally presents estimated future retirement benefits in today's dollars. That means the estimate reflects the purchasing power of [...]

Should I enter my pension benefit in today’s dollars or future dollars?

When entering pension income in WealthTrace, enter the future dollar amount you expect to receive when the pension begins. Why Pension Income Is Entered in Future Dollars Pension benefit estimates are typically presented as the actual dollar amount that will be paid at the future retirement date. For example, if your pension statement says you will receive $4,000 per month beginning at age 65, [...]

Where can I change my personal information such as retirement date or life expectancy?

You can update your personal and retirement information from the Personal Information section in Plan Settings. To make changes: Click on Plan Settings in the navigation menu. Select the Personal Information tab.Review or update your: First and Last nameDate of birthRetirement dateSalaryAnnual raise Life expectancyAdd or remove a spouse, if needed.Your changes will automatically save. Keeping [...]