Here is a link for a household asset form to help you keep track of current and future assets. This isn’t a required is important if you have anticipated future income in the form of RMD’s from your investment portfolio (if applicable) may be required to be taken in the future which some people forget about as well as any non – RMD investment portfolio planned withdrawals or other income, or sale of property that may be on the horizon. This all needs to be figured as you are planning your financial cash flow for the future since certain income types, while taking social security concurrently, may cause you to go over the annual provisional social security income cap which would decrease your monthly social security benefits. Here’s a list of income types that are and are not counted that go toward the annual provisional social security income cap. If you have a financial planner who manages your money, you may want to call them with this issue to make sure he/she knows which age you or you and your spouse are planning to start drawing social security, it all ties together! Couple this form along with the household budget form in the other tab on my website to get a complete picture of your monthly liabilities and overall assets.
Kind regards,
Kevin Walton