Glossary

Glossary of terms used in MaxiFi

Annuity Income
Annuity Income represents the annual amount of payouts you should receive from the company you purchase an annuity from.
Tue, 29 Mar, 2022 at 8:10 AM
Bequest
A bequest is money intended to be given upon death to a person or entity other than the surviving spouse. A bequest is entered in Settings > EstateĀ 
Tue, 17 May, 2022 at 5:29 PM
Discretionary Spending
Discretionary spending includes all spending other than taxes and Fixed Spending. It is money available to spend on food, travel, clothes, entertainment, etc.
Tue, 29 Mar, 2022 at 8:11 AM
FICA Taxes
The Federal Insurance Contributions Act (FICA) is a federal law requiring employers to withhold three separate taxes from your wages: a 6.2% Social Security...
Tue, 29 Mar, 2022 at 8:16 AM
Fixed Spending
Fixed spending, sometimes referred to as "off-the-top" spending, includes housing expenses, special expenses, retirement account contributions, an...
Tue, 29 Mar, 2022 at 8:12 AM
Housing Equity
Equity reflects the difference between the value of the home and the outstanding amount owed on the mortgage. If your home is valued at $200,000 and you hav...
Tue, 29 Mar, 2022 at 8:10 AM
Non-Asset Income
Income from labor, pensions, annuities purchased apart from retirement accounts, and Social Security.
Tue, 29 Mar, 2022 at 8:04 AM
Per Adult Living Standard
Per Adult Living Standard is the annual amount of discretionary spending for each adult equivalent in the household. For more information about how this num...
Tue, 29 Mar, 2022 at 8:13 AM
Regular Asset Interest
Interest income earned on Regular Assets. You can adjust the rate of return on Regular Assets under 'Settings and Assumptions.'
Tue, 29 Mar, 2022 at 8:05 AM
Regular Assets
The money you've saved or invested in checking, savings, and investment accounts. Regular Assets do not include money in Retirement Accounts.
Tue, 29 Mar, 2022 at 8:04 AM