Use the Retirement Fiscal Cliff function to quickly build a structured income plan for a new client. This guide outlines the process for creating a preliminary planning scenario, beginning on the Your Case List Landing page. The instructions below are based on a hypothetical client who provided the following key data points. All the information that is entered in on the Tools Landing page can be edited.
New Client Dashboard Information:
- Age: 62, they would like to retire when they turn 70
- Wages/Income: $175,000 yearly wage
- Annual Savings is at 10%
- Current NestEgg Retirment is at $850,000 with an asset allocation at 3%
- They will be getting $28,000 in SS once they retire at the age of 70
- They have a rental income that grosses $38,400 per year
- They would like to have a target income when they retire starting at $70,000 and the inflation assumption is at 2.5%
To learn about Tools see articles:
- Replicate Discovery Data as a Planning Scenario
- How to Use The Retirement Fiscal Cliff Function for an Existing Client
- Using The Retirement Fiscal Cliff Function for a New Client
Step 1: Add Case: Click on the green Add Case button under the Your Case List heading.
Step 2: Case Title: To get to the tools page, it is mandatory in SIPS to enter in a title and an initial age. Enter in a case title.
Step 3: Initial Plan Age: Enter in age.
Step 4: Save: Click on the green Save button under the Client Information heading.
Step 5: Tools: Click on the Tools link under the Client’s name.
Step 6: The Retirement Fiscal Cliff: Click on the green Retirement Fiscal Cliff button.
Step 7: Years Until Retirement: Enter in how many more years your client will like to work. 
Step 8: Combined Wages: Enter in the wages/incomes. 
Step 9: Annual Savings Amount: Enter in either the monetary or percentage amount.
Step 10: Annual Savings To Be Added To NestEgg: If this is a monetary amount have it be selected at Fixed. If this is going to be a percent amount, use the down caret arrow and select Percent.
Step 11: Current Retirement NestEgg Balance: Enter in the total amount that has been saved for the Nest Egg along with the average asset allocation percentage.
Step 12: Social Security Benefits at Retirement: Enter in the Social Security benefits at retirement.
Step 13: List of Other Retirement Incomes (Rentals and Other Business): Enter in the data for this section.
Step 14: Target Income After Retirement: Enter in the target income and inflation assumption.
Step 15: Build Case: Click on the green Build Case Button under the Fiscal Cliff heading.
Step 16: Scenario: You will automatically be taken to the Structured Income Planning Page after a new planning scenario is created.
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