Add An Override To Income And Expenses In Final Plan Projections

Both Income assumptions and Expenses assumptions can be changed in the Projections section and these changes will be synced with the Future Cash Flow section.

Any Blue value in the Income or Expenses columns can be overridden with a specific value in that year.

An override can also be cascaded down over many years.

Overrides in Income and Expenses columns can be useful when testing different assumptions within your financial plan.

Added Expense Example

In the Final Plan Projection section, you may want to test different levels of spending to see the effect on your financial plan. This can be done by adding an override to your Expenses assumptions.

Remember that if you want to test a general increase or decrease of expenses throughout your retirement, it's best to use the AI strategies.

But if you'd like to add a one-off expense or increase spending for a smaller length of time using an override will work well.

For example, if you would like to give a $50,000 gift to each of your children (2) next year you could add a $100,000 "Other Expense" to see how that would change your long-term projections. Because Expenses are entered in Today’s Dollars there is no need to adjust for inflation, the platform will do that for you.

Before Override:

Override:

After Override:

Added Income Example

In the Final Plan Projection section, you may want to test the effect of some additional income on your financial plan. This can be done by adding an override to your Income assumptions. For example, to test how some additional part-time employment income after retirement could help improve your plan you could add $15,000 per year in employment income and cascade down for 5-years.

Income is shown in Future Dollars, so adding an increase with inflation is necessary to keep the same purchasing power of income.