Transcript
In this video, I will be walking you through how to reflect your client moving to part-time employment.
If you haven’t done so already, navigate to the silhouette icon in the top right corner, go to Preferences, and turn on Inline Help. This gives you access to helpful information throughout the plan.
To adjust your client’s income for part-time work:
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Go to their existing income entry and open it.
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Navigate to Steps and select Add a Step.
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Step the income down to 50% of the current amount while keeping the growth rate at 3%.
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In Timing, set this change to occur at age 60 by double-clicking in the gray area and naming the step.
In this example:
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Income is $300,000 with 3% growth year-on-year until age 60.
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At age 60, it steps down to $150,000 with 3% growth year-on-year until retirement.
Click Done, then Done again to save.
The Cash Flow Chart will reflect this adjustment:
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The year before the step shows a total income of $339,000.
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The next year, after the step, it drops to $176,000.
In Year View, you can also see income growing at 3% until age 60, dropping at that point, and completely leaving the plan at age 65.
I hope this was helpful. If you have any questions, click the client’s name in the top right, select Request Support, enter your question, and share client access.