Other Assets

Other Assets can be accounted for within a financial plan via the Net Worth section of the Profile, which is where all of a client's assets and liabilities are entered, along with their current balances. By default, the Net Worth is also the 4th step of the initial data entry process for newly created clients:

To add Other Assets to a client's Net Worth section, click Add Account > Other. There are 2 options available within the Asset type menu.

Other Asset Types

Lifestyle

Use this to include the current value of various tangible assets in the client's Net Worth, such as a car, a boat, or jewelry. This asset type allows you to specify:

Current Value
Annual Growth %
Cost Basis
Year of Sale
Cost of Sale %

Asset Depreciation

In order to model the asset depreciating over time, you can enter a negative value for the annual growth %. This is a common practice when entering vehicles as a lifestyle asset.

Note receivable

If clients have loaned money and are receiving payments, use the Note Receivable option to reflect income received from those payments. The note receivable option will allow you to specify:

Balance
Interest rate
Annual Income

The note receivable entry can be tracked within the Retirement > Cash Flows, and will track the income's affect on the remaining balance.

Pro-Tip: Cryptocurrency

Lifestyle assets can be used to model cryptocurrency within client plans, allowing you to specify details like the current value, expected growth rate, cost basis, and year/cost of sale.