How to use Voyant to plan for younger clients.
Transcript
In today's training, we will be looking at how to use Voyant when planning for the next generation of investors. The goal of Voyant is to help you achieve and visualize a long-term plan for your client that accounts for goals, market fluctuations, and changing life needs. Voyant is the perfect tool to take a long-term view of your client’s financial health and help them stay on track to meet their goals.
To demonstrate, I’ll start from scratch and create a client plan. From the home screen, click the plus button in the bottom right corner and select Create Client. Enter the client’s name, date of birth, and set the plan start date (e.g., January 1 of this year) with an estimated retirement age of 65. Click Done to open the plan.
Next, we’ll add the rest of the family:
Click the plus button → People
Enter the spouse’s details and save
Enter their child’s details and save
You can now see all three people in the plan by expanding the bottom arrow.
Step 1: Enter Expenses and Goals
Current living expenses:
Navigate to Expenses → Multi-Year
Enter an amount of $6,000 per month
Set the timing to stop when the primary client retires
Click Done
Pre-retirement years will now show these expenses in red
Goals:
Future Home Purchase
Budget: $650,000
Linked mortgage: $600,000, 6% interest, 30-year term
Set the start year a couple of years out
Click Done
Retirement Spending Goals
Annual spending: $85,000
Timing: From retirement to plan end
Click Done
Retirement Travel Goals
Annual spending: $5,000
Start at retirement, end at age 75
Step down to $3,500 at age 75
Add step-ups around age 85 for increased health expenses
Click Done
Education Goal (Son’s College)
Enter $20,000 for Felix
Set the timing to start when Felix turns 18
Click Done
Currently, the plan shows a shortfall of 0% because we haven’t added income or assets yet.
Step 2: Add Income
Primary client’s salary: $95,000 annually
Spouse’s salary: Enter details
Timing: Automatically set from now until retirement
Click Done
The plan now reflects incoming cash flow.
Step 3: Add Assets
High-Yield Savings Account (Joint):
Balance: $20,000
Monthly contributions: $200
Timing: Now until the primary client retires
Minimum balance: $10,000
Click Done
Brokerage Account (Joint):
Balance: $85,000
Growth: 9% pre-retirement, step down to 6% at retirement
Click Done
Qualified Accounts:
Roth 401(k) – Primary Client
Balance: $55,000, cost basis $1,500
Contributions: 8% of income, employer match 6%
Growth: Adjust step-down at retirement to 5.5%
Click Done
Traditional 401(k) – Spouse
Balance: $75,000
Contributions: 10% of income, employer match 4%
Link to spouse’s income
Click Done
Cash flow now reflects withdrawals from taxable savings, 401(k)s, and Roth 401(k) in retirement.
Education Savings (529 Plan – Felix):
Balance: $20,000
Annual contribution: $5,000 until age 18
Growth: 6%
Click Done
Step 4: Insights and Recommendations
Investment Returns Insight:
Required overall rate of return to avoid shortfall: 6.67%
Year-by-year view shows modeled growth in each account
Annual Savings Insight:
Additional annual savings needed: $7,889
Hover over each year to verify available surplus income
Retirement Spending Insight:
Maximum sustainable spending: $78,000 annually
Step 5: Create a “What-If” Recommendation Plan
Adjust goals and contributions:
Reduce retirement spending to $80,000
Add $8,000 annual contribution to brokerage account until primary client retires
Click Done
Compare plans using the LET'S-See screen:
Visualize red (shortfall) disappearing
Compare asset charts at plan end
Turn on legend and remove non-liquid assets to see remaining resources
I hope this training was helpful. For questions, reach out to support@planwithvoyant.com. You can also click the client name in the top right corner and select Request Support to share client access.