Many clients need to include ad-hoc expenses in their retirement income plan e.g. paying off the mortgage or paying for a child’s wedding. What’s the best way to model them in the retirement income plan?
Many clients need to include ad-hoc expenses in their retirement income plan e.g. paying off the mortgage or paying for a child’s wedding. What’s the best way to model them in the retirement income plan?
I mostly use cash flow planning module. But you can probably enter a one-time expense as the one which has same start and end date. But play around with the dates a bit. I do remember at some place, that expense calculation is based on the frequency you enter. If it is monthly then start and end dates should be a few days apart but within the same month. I may be wrong. But this is what I would try.