In response to suggestions from several of our readers, we have added cells to the AFP models to permit inputting of additional non-recurring income and expense items. These new cells will enable you to estimate present values of items such as:
- Social Security survivor benefits
- Survivor benefits under Joint and Survivor annuities
- Future home sales
- Possible future Social Security cuts, and
- Many types of expected future non-recurring expenses
Why is this important? Household income and expenses are typically not linear from year to year and can be front-loaded, back-loaded, or even middle-loaded. Successful planning should anticipate real-world income and spending patterns.
Check out the revised AFP spreadsheets and, as always, feel free to share your suggestions for possible improvements.
Remember to change items only in the designated cells in the Input section. Don’t change cells that use formulas.
Also remember to increase amounts inputted in Column E as necessary for any periods of expected deferred commencement.
Happy Planning!
