The Income and Benefits screen asks you to enter a retirement age and a maximum age.
- Retirement age refers to your last year with earnings, not the age you take Social Security.
- Maximum age refers to the oldest age you might possibly live to.
- The retirement age you enter can be used on other screens as a variable when you enter when your labor earnings stop or when you stop contributing to retirement accounts.
- Maximum age should be used to remove longevity risk from your model. Avoid using your family history age of death or your probable age of death.
- This video shows how to use the retirement date variable: The Retirement Date