The dedicated Liquidity Analysis tool pulls in asset and expense information from the Profile, allowing you to easily dial in a liquidity target and compare that dollar amount to a client's actual liquidity. This module is accessible via the Dashboard > Liquidity tab of each client plan:
The Details tab provides greater insight into the specific dollar values that make up a client's Current monthly expenses and Current Liquidity. Information will be pulled in from the data entry in the Profile section, and will populate by category within this area:
See below for an overview of each line item within the Current monthly expenses section of the Details tab. For additional information on where and how certain expenses are entered, you can click the blue hyperlinks within each description.
Living expense: For clients in pre-retirement, the living expenses value will be a reflection of the monthly value entered into the Pre-Retirement Living Expenses card (Profile > Expenses). For clients in retirement, the Retirement Living Expenses (Profile > Goals) will be used.
Housing includes all expenses associated with the Primary Home, including mortgage principal and interest, property tax, insurance and maintenance fees. Both mortgages and properties are entered in the Profile > Net Worth area.
Debt reflects payments from any other loans (Profile > Net Worth) within the plan, excluding mortgage and credit card payments. New Loan income cards (Profile > Income) and Extra Debt Payment cards (Profile > Expenses) taking place in the first year of the cash flows will also be included.
Health Care will include any costs entered into a Retirement Health Care Cost card (Profile > Goals), as well as any Medical Expense cards (Profile > Expenses).
Insurance premium will reflect the total monthly premiums for all insurance policies entered into the Profile > Net Worth area.
Rental and vacation home includes all expenses associated with investment and vacation properties, including mortgage principal and interest, property tax, insurance and maintenance fees. Both mortgages and properties are entered in the Profile > Net Worth area.
Other Expense includes any additional expenses entered into the Profile > Expenses tab, such as Alimony or Other Expense cards.
