If you just signed up for a free trial and are wondering what to do next, you have come to the right place. This page provides basic instruction to get you started and will guide you through utilizing the free trial version of the application.
The application doesn't require entry of data in any particular sequence, therefore, you are free to enter the data in any order you wish. For example, you can create a pension in Incoming Cash Flows tab before creating a Social Security strategy. If there is a cross-dependency, you will be warned with an appropriate message.
Before going any further, you may need to adjust the font size for better readability. To better suit your preferences, you can adjust the font size to make it bigger or smaller by pressing the Ctrl key (⌘ on Mac) and the + or - key simultaneously to increase or decrease it respectively.
What do I do next?
As a free trial user, you have the option to analyze the sample household or create a new one. Although, you are limited to two households, if you wish to analyze more than two households at a time, you will need to upgrade to a paid subscription. You can add a new household by pressing the icon in the Households panel.
As you will notice, the application is organized as panels and tabs. Each panel contains its own worksheet type list of rows. More rows can be added by clicking the icon or edited by clicking the icon. As you may have already guessed, the icon will delete the selected row.
A row can also be edited in-line by double clicking on it as shown in the image below. This opens up each field in which you may click to enter and/or edit data or use the drop-down list to make the appropriate selection, depending on the field type. When finished, simply press the Enter key to save the data or the Escape key to cancel.
If you wish to hide a panel (for example, if you don't want your client to see the names of your other clients, while you have the screen in front of him), just click the arrow in the top left corner of the panel to close it. Click the same arrow to open it from a closed state.
Now, to analyze your client’s case.
All of the panels on the main tab show data for the household selected in the Households panel. After you have configured Members, Income Parameters and Social Security, you are ready to analyze different income plans. Other tabs in Income Strategies panel are optional. You need only configure a bond ladder, an income annuity or a variable annuity if you want to consider them for the analysis.
You can conduct the plan analysis by pressing the icon in the Income Strategies panel (see image below) or by pressing the icon in the Income Plans panel. Both these icons perform the same action of building a plan by choosing a specific income strategy.
An income strategy is a combination of desired retirement income, model allocation in a systematic withdrawal portfolio (SWP), Social Security claim strategy and allocation of assets to bond ladders and annuities. When you click the button, the chosen income strategy is simulated through a set of different sequences of hypothetical future inflation and asset class returns. Results of the analysis are presented as a set of risk and reward metrics in the Income Plans panel.
You can add multiple plans to the Income Plans panel and compare their performance side-by-side, as shown in the exhibit below. To add a new plan, simply click the icon. As well, to edit or delete a plan, click the and icons respectively.
Once you have completed the analysis and narrowed down 2-3 plans you would like to share with the client, you should order them in the list to the desired order of presentation. The plan at the top of the list should be the plan that you recommend as the best option for the client. The top plan is special, as the client's report will show additional information about it, such as yearly cash flow and composition of the bond ladders. You can change the order of the plans by clicking a plan and dragging and dropping it into the desired location.
Since now you most likely have picked up on the pattern of interaction with the application, you will be familiar enough to know to click on the icon in the Reports panel to generate a report.
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