How to Model a Downsizer Contribution- Transcript
A downsizer contribution can be modeled in AdviserGo using a simple two-step process. First, enter the contribution amount within the client’s superannuation account, then set the sale of the client’s home to trigger the contribution.
Step 1: Enter the Downsizer Contribution
Navigate to the client’s Superannuation account and scroll to the Downsizer Contribution field.
Enter the amount the client plans to contribute. For example, if the client intends to make a $300,000 downsizer contribution, enter $300,000 in this field and select Done.
Step 2: Set the Sale of the Home
The downsizer contribution is triggered by the sale of the client’s home.
Navigate to the client’s Home asset and select Timing from the left-hand menu. Locate the Sell Event field and select when the client plans to sell the property.
For example, if the client intends to downsize at age 70, set the sale event for age 70 and select Done.
Once the home sale is entered, AdviserGo will trigger the corresponding downsizer contribution.
Review the Contribution
To confirm the contribution has been modeled correctly:
- Open Year View.
- Select the Retirement tab.
- Navigate to the year in which the home is sold.
- Review the client’s superannuation account.
You should see the entered contribution amount flowing into the client’s superannuation account as a Downsizer Contribution.
Important Considerations
If both Client 1 and Client 2 are making downsizer contributions, the contribution will need to be entered separately within each client’s superannuation account.
You may also need to model the purchase of a replacement home depending on the client’s circumstances and the strategy being modeled.
Need Help?
If you have questions about modeling a downsizer contribution in AdviserGo, click the client’s name in the upper-right corner of the screen and select Request Support to contact the Support team.