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What Types of Contributions Can I Model?
What Types of Contributions Can I Model?

This article describes two types of contributions you may model in PlannerPlus

Nancy Gates avatar
Written by Nancy Gates
Updated over a week ago

Contributions

You have the ability to make 2 types of contributions in the Planner; Standard Contributions and Income Linked Contributions.


Income Linked Contributions

Best For

  • Contributions that are deducted from your paycheck

  • An employer match

  • Contributions that you want to occur no matter what

Where can I add Income Linked Contributions?

Where can I edit and delete Income Linked Contributions?

How do Income Linked Contributions Increase Over Time?

  • When using both the Dollar and Percentage options, income linked contributions increase based on your income growth rate assumptions. And, you can choose to auto escalate your contributions as well.

What contribution limits are applied in Planner?

We apply the annual limit for one traditional and/or Roth IRA per person

We apply the annual limit for one 401k/403b per person

We allow annual contribution limits for one 401k or 403b and 457b per person

How are Income Linked Contributions Funded?

Income linked contributions preclude funding of expenses. The contribution will be made and may create a gap between income and expenses. When this occurs, the Planner will drawdown from savings to fund your expenses.


Standard Contributions

Where can I add Standard Contributions?

Where can I edit and delete Standard Contributions?

Best For

  • Contributions that you want funded after all expenses are met.

How do Standard Contributions Increase Over Time?

Standard contributions increase based at the rate you have entered in Assumptions for General Inflation.

How are Standard Contributions Funded?

Contributions will be realized when there is sufficient excess income after all expenses have been funded.


How do I increase contributions to model the "catch up" amount after age 50?

In order to model a change in contributions, you'll end your current income stream with contributions at age 49 and 11 months and add a new income stream at age 50.

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