MaxiFi provides two sample families for Professional users: SAMPLE-Single Family and SAMPLE -Married Family. These sample family profiles are intended to illustrate what a family profile might look like. They also include alternative profiles (what-if profiles) to illustrate how to use some of MaxiFi's basic features. Like any family, these samples can be deleted by choosing the profile and finding the "Delete Family" in the Manage Family area.
Jack age 63 and Jill age 59. They both plan to work a few more years and then retire. There are no children still in the home. They have a primary home and a vacation home.
By clicking on each menu item at the left, one can review each of the data entry items including housing, assets, special receipts and expenses, and the default assumptions used in the program.
Reading the Report
Begin by running the Base Plan report. This video will introduce the most important features of the report. Reading Reports
These profiles below are variations based on the Base Plan. Each alternative profile makes a change illustrating a "what-if" scenario. Typically an alternative profile is compared to the Base Plan. But sometimes an alt profile starts by copying or cloning another alt profile and is thus most useful in comparing to the alt profile it was cloned from.
Maximize Social Security Profile
This alternative plan was created by using the Maximization report feature but limiting in the setup the maximization options to Social Security only. After creating the report, it was saved as a new Alternative Profile by selecting to "Apply to New Alternative Profile" button at the bottom-left of the first page of the report.
This alternative profile began, like all alternative profiles, as a clone of the base plan. Next, by selecting the adult's name in the profile the "retirement date" came into view and was changed to age 60. This "retirement date" is a variable that can also be used to determine when contributions to retirement are discontinued.
Retire Early - Maximize SS
This alternative plan started by maximizing the Retire Early alternative profile above. Next, the maximized report was saved as a new Alternative Profile by using the "Apply to New Alternative Profile" button. It should be compared to the Retire Early plan or to the base plan This plan created a cash flow issue described as Cash Constraint.
Retire Early - Maximize SS - fix constraint
This alternative profile started as a clone of the Retire Early - Maximize SS profile above. Next, special withdrawals from retirement accounts were added in order to bring liquidity into the near term from the far term in order to address the cash constraint. This profile should should be compared to Retire Early - Maximize SS.