This article is a continuation of Income Analysis - Creating Research
Complete the Add Goal Details screen.
In this example, we have a joint client. The details below will be used throughout the research to provide a picture of how long the fund will last against a given income requirement.
Cashflow Start Age – This information can be either an age or a date that you would like the drawdown scenario to start.
Note - When doing joint research, Cashflow Age will be used for Drawdown Start Age & Retirement Start Age of Client 1 automatically, allowing you to select a different Age/Date for client 2.
Drawdown Start Age - Age/Date the client goes into Drawdown. This will default to the Cashflow start age for Client 1. If doing joint research, you can set an age/date they go into drawdown.
Retirement Start Age - Age/Date the client starts Retirement. This field is not used in calculations, but will appear on the report.
Forecast Life Expectancy – This figure is pre calculated utilising ONS statistics, it is determined from the clients DOB and gender. If required this figure can be overridden.
Scottish Tax Rules – This option allows you to toggle whether the system uses Scottish Tax rules or not. This determines which tax bandings are applied within the calculations.
Tax Rate - Capture the client's Current Tax Rate and At Retirement Tax Rate
Once the first client details have been completed, click + Add Second Client
Select Existing Client or Create a New Client:
We will select an existing client. Start typing to return results:
Save
Complete the details of second client:
Once complete, Continue to Next Step:
For further information on Income Analysis research, see article Income Analysis - Joint Life - Charges
