Incorporating Guaranteed Income Sources

You can now add current or future guaranteed income sources like pensions, social security, and annuities. 

How to activate the feature:

To do this, add one of the qualifying guaranteed income sources, which are: pensions, annuities, and social security. Please note, the feature will only become available when you add NEW income sources. You cannot use pre-existing line items.

Select an income start date and hit save. You can toggle guaranteed income on or off by clicking the checkbox next to the income source or by clicking the “Guaranteed Income is OFF/ON” flag below the scorecard. 

How it works:

Guaranteed income sources reduce the spending need for the bottom row Elements. You’ll notice a little calculator icon next to spending and the label now reads “Adjusted Annual Spending”. Clicking that calculator icon allows you to toggle on or off certain streams of income to see how the scores change. 

There is a chance your client could have more guaranteed income than spending. If this is the case, their spending need would be negative. Instead of showing the bottom row as negative, we show “beach mode”... this means they could spend that amount of money for the rest of their lives because it is going to be covered by the guaranteed income streams.

Related to

• social security
• pension
• annuity
• guaranteed income
• future income
• income
• beach mode