Newbie here… I can’t seem to find a description of modeling the new 401k Lifetime Income options available in 401k plans. In my case, I have a Lifetime Income Strategy (LIS) option from Alliance Bernstein which provides guaranteed income in the form of a single or joint survivor annuity with investment growth possibilities. My current secure income base in LIS is approximately $245,000 which will provide me with single life annual income of approximately $16,000 starting at age 65. My current age is 59.5. Do I enter the payment at age 65 in the annuity build area and the current investment in my 401k in the investement area? How does the calculator know that the $245,000 investment is associated with the age 65 annuity? Thanks in advance for any advice!
@sbiller65 This sounds like something you would model as an annuity as you've already ascertained; however, Pralana doesn't model any investments that might be associated with the annuities and does not include them in your net worth. Basically, it assumes that you purchase an annuity and the insurance company gets your investment and from that point it only models the payouts the company is obligated to pay.
Stuart
