When using the Asset Flow calculator, it is important to calculate for COLA (cost of living adjustment) when determining Social Security income. The Future Value calculator is a handy tool in this case.

To set this up properly, fill in the fields as such:

Present Value; the annual payment (multiply the monthly payment by 12). Rate; the annual interest rate. Time Frame; the difference between current age and distribution age.   If you use the resulting number in Asset Flow as the benefit for Normal Retirement Age, the value will continue to grow from there, reflecting the COLA.