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Retirement Income Resources

The Retirement Income resources section allows you to enter any income that you will start receive upon or near to your retirement. An example of this would be a work or government pension.

You can add a new resource by clicking on Add new resource, edit an existing resource by clicking on the Resource description or delete a resource by click on the X icon. The G symbol at the left side of the screen indicated that the resource is used to fund the goals for the client. For more information on goals please see Setting up your client's goals.

Add a new Retirement Income resource.

You can add a new retirement income resource by click on the "Add new resource" link. The following options will be displayed.

Click on one of the above options to add this retirement income source. In this example we will add a work pension.

1. Firstly set the Income Details

Name (optional) - The name field can be used to help you identify the retirement income.

Amount - This is the income amount and period.

You can then set when you will start receiving the retirement income. This can be locked to the retirement age as set under the client details OR fixed to a specific client age. For example a client might wish to retire at 55 however they will not start receiving their work pension until they reach the age of 65. In this case you will want to link the retirement income to an actual client age rather then linking it to the client's retirement age a this might be different.

2. Secondly set how the income will be linked to the goals.

You can also set how this investment will be used to fund the goals. There are three options available: -
  1. Fund all goals

    Selecting the "Fund all goals" option mean that the Investment resource can be used to fund any of your goals. Funding will occur in the priority order of the goals with the highest priority goal being funded first. For more information on goals please see 
    Goals Dashboard.

  2. Fund on specific goal

    You can link an Investment Asset directly to a specific goal by selecting the "Fund one specific goal" option. You can then set the specific goal by using the selection list on the right.

  3. Exclude from goals.

    You might also like to exclude the asset from funding any of the goals. You can do this by selected the "Exclude from goals" option.
When you have finished entering the retirement income details click on "Save" to add this to the list of retirement incomes or click on "Cancel" to exit without saving.