The “Income floor” is the guaranteed income the client will receive - for example: minimum withdrawal benefit rider on an annuity , social security, or pension.
In this section, you can:
- Select which segment to begin the floor, rate of return during referral (if applicable), and withdrawal rate once you start withdrawing.
- You can determine how much is required based on an allocation percentage, annual income need or amount you would like to invest.
- Any income on the “floor” can start and end in any segment.
- The checkmark next to each income needs to be checked to show up as being on the floor. Any floor income reduces the income need reflected in the model
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