Retirement
Lists all the money transactions that model the client's retirement calculations.
tip
Click on a transaction to edit it.
danger
Clicking outside the form closes the form and loses your changes. Always remember to Save.
Form fields​
Title​
Identify what that Transaction refers to. E.g "Rental Home."
Transaction Type​
- Income During Retirement - Money added to the account that generates a positive contribution to the Retirement shortfall calculation.
- Retirement Budget - Generates a negative contribution to the Retirement shortfall calculation.
Asset Type​
Asset Types are used to group together similar Transactions.
- Each Asset Type will generate a column on the relevant Table (Contributions, Withdrawals etc).
- Such column will display the sum of all transactions with the same Asset Type for that Transaction Type.
You can add as many Asset Types as you deem necessary for each specific client.
Asset Types are client-specific, except for the built-in Types (see below).
There are some built-in asset Types with specific ends:
- KiwiSaver - Use it to add voluntary KiwiSaver contributions.
- NZ Super - Use it to add NZ Super income. Important: Transactions using this Asset Type are unrelated to the NZ Super automatic calculations. You should either disable the automation or be careful to avoid double counting.
- Other - Use it to bundle random transactions that aren't worth of separate columns.
Value​
The dollar amount.
Age​
For copules, the age values chosen here are relative to the main client.
At/From Age​
Defines when the transaction starts. Can't be lower than the main client's age when either partner retires first.
E.g. Main client aged 50 retires at 65, partner aged 55 also retires at 65. The minimum value for At/From Age is then 601, which is the main client's age when the partner retires.
To Age​
Defines when the transaction ends. For recurring transactions only.
Recurring​
If the entry spans more than one year.
Inflation adjusted​
If the entry is recurring, and/or in the future, applies inflation adjustment to the values in the future.
The inflation rate applied is the client's inflation rate.
- Approximately. The actual age depens on the exact birthdays and start date. For more details, see Concepts - Years and Ages↩