In this article:

  • How to Add a Social Security Cash Flow onto an Asset-Map
  • How the Social Security Cash Flow Financial Affects a Target-Map
  • Additional Resources

How to Add a Social Security Cash Flow onto an Asset-Map

  • Click Add Cash Flow on the map menu.
  • Select Cash Flow Type: Social Security

Fill in the rest of the Edit Cash Flow form (see image below)

  • Enter the Reference Name and Source/Purpose fields.
  • Enter the annual amount into the Annual Amount field.
  • Use the "Future Value" checkbox if the value is an already inflated value. Please determine if you prefer to use an inflated value or present value. Applying Future Value on a financial means that the value on the financial has already been inflated up to the age that it becomes available. If the annual amount is a Present Value you may choose to leave the box unchecked. How this influences a Target-Map is discussed below. It is the responsibility of the advisor to know which is appropriate to use.
  • Decide at which age Social Security will start. (example: 67)
  • Enter age of Availability (Start Age/Date field) and enter the age of estimated mortality (End Age/Date field). (example: Start: 67, End: 100).
  • Then Save Changes.

The tile will appear on the map with gray text and a colored border if the Start Age/Date entered is in the future. The value will not be calculated as part of the current income stream.

How the Social Security Cash Flow Financial Affects a Target-Map

The asset will appear on a Target-Map's "What you Have" tab in the Cash Flow Sources Available section. Check the box to the left of the Reference Name if the source is used to help fund the retirement need.

A note about COLA and Future Value

If the Future Value checkbox was checked on the financial, COLA is calculated from the age of funding availability. If the Future Value checkbox was not checked on the financial, COLA growth is assumed from the current age of the member. Conveniently, you can set your preferred COLA within the line item.

Additional Resources

  • Clone a Target-Map to demonstrate the effect of social security being made available at different ages or other scenarios. Learn more here.
  • Check out our list of calculators among which is's Social Security calculator and a Social Security Strategy calculator from Open Social

Please note: the function and accuracy of these financial calculators are not the responsibility of Asset-Map Holdings, Inc. They are provided for educational purposes only.

Tags: COLA, Retirement, funding, age, future, present, value, social, security


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