Yes, MaxiFi software can help retirees make all kinds of decisions. By trying out different scenarios and comparing your living standard under each, you can see the consequences of many decisions such as:
- Downsizing your home
- Purchasing long-term care insurance
- Postponing Social Security
- Continuing to buy life insurance
- Paying off your mortgage
- Different investment and spending strategies
- Different ages of initiating retirement account withdrawals
- How much to spend each year
- How much to help with a child or grandchild's education or other needs
- Changing the order of withdrawal from retirement accounts (Roth vs. Regular IRA)
- Moving to a different state
- Annuitizing all or part of your 401(k)
- Evaluate the impact of Roth conversions.