There are numerous changes in plan settings that can lead to increased Spending Capacity / Retirement Paycheck. Keep in mind that many (though not all) of these changes involve trade-offs between income and risk.

• Choose a less aggressive Longevity Setting: Shorter life expectancy estimates will result in higher current income. However, lowering life expectancy estimates can also increase the possibility that longevity will be underestimated if clients' longevity exceeds expectations.
• Choose a less conservative Income Setting: Some households may prefer to receive higher income now and accept lower the chances of future income increases and higher chances of future income decreases from this higher level.
• Include all non-portfolio income sources: When creating a plan, it is easy to miss an income stream such as a small pension or annuity. But every income stream and incoming cash flow counts. For example, if clients plan to downsize their house or move to a less expensive location, be sure to include the proceeds of such a move.
• Include all accounts that will fund retirement income: Make sure you’ve included all accounts, including small, forgotten, or neglected retirement accounts. Also include accounts managed by other financial professionals or the clients themselves. If assets that will be used to fund retirement are not accounted for, the spending capacity/retirement paycheck may be too low.
• Explore an age-based or custom spending path: Research shows that retirees do not tend to spend the same amount at age eighty as they do at sixty-five. Choosing a flat (inflation-adjusted) spending path may unnecessarily reduce current income in order to provide for future income that may not be needed at an older age, if that older age is reached. An age-based path or a custom path that includes lower (inflation-adjusted) spending in the future will generally raise current income and can help more realistically plan for changes in spending over time.
• Explore portfolio allocation adjustments: In some cases, adjusting asset allocations can increase (or decrease) spending capacity/retirement paycheck.

Be sure that, if you consider any of these changes, they match the needs and preferences of the household.