Input Explainer

• Current Age: Your current age (18–80).
• Income ($/year): Annual income to base replacement needs on.
• Income Replacement (%): Percentage of income to replace (e.g., 50% for living expenses).
• Income Growth/Inflation (%): Expected annual growth in income or inflation rate (0–10%).
• Years to Replace Income (optional): Number of years to cover income; blank uses retirement (65) or youngest child’s age (18).
• Youngest Child's Age: Age of youngest child for dependency period (0–18).
• Mortgage Balance ($): Outstanding mortgage to cover.
• Other Debts ($): Other debts to pay off (e.g., loans, credit cards).
• College Costs ($): Estimated future college expenses.
• Funeral Costs ($): Estimated funeral expenses.
• Retirement Assets ($): 401k/IRA balances (discounted 10% if under 59.5).
• Non-Retirement Assets ($): Liquid assets like savings/stocks.
• Existing Life Insurance ($): Current policy death benefit.
• Discount Rate (%): Rate to discount future needs (0–10%).
• Social Security Offset (% of income): Estimated survivor benefits (0–100%, default 40% for families).