Inheritance
On the inheritance page you enter any people or couples you or your spouse could inherit money from.
Add a row to the table for each bequeather. If you are a couple and will only inherit the money if one of you is alive when the bequeather dies, set that person as the “Beneficiary”. For example: if Alice and Bob are the couple, and Bob’s parents will bequeath their money to Bob’s siblings instead of Alice if Bob dies before his parents, set Bob as the Beneficiary. If instead, Alice’s parents will bequeath their money to Bob even if Alice has died, set the Beneficiary to Both.
Enter the birth date(s) of the bequeathers so that the simulation can model their life expectancy. Finally, enter the range of money that you could inherit and how the value should grow. This should typically be set to “Inflation adjusted”. Even if the bequeather has their money in stocks or bonds, they are probably spending some of that money to live on and the amount they will leave you isn’t growing.
The chart will be filled in with the expected value of the inheritance. During each run of the simulation, the program will randomly pick a date when your bequeathers die based on their life expectancy and will then randomly pick an amount between the min and max for you to inherit. The chart includes the chances that you will die before your bequeathers, so the expected value drops back to zero on the right.
Next tab: Social Security