Welcome. This video will walk you
through how to use Income Lab's quickre
feature to build a plan in a matter of
minutes. From your main households page,
find the blue add a household button,
then click quickre. First, you'll want
to enter your client information by
filling out their full name,
their birthday. You can use the calendar
icon to select the year and the month,
and then use the toggle to select the
gender. If you have a second person in
the household that you'd like to add,
you can follow the same steps to fill
out their information as well.
Then select the state of residence.
If your client is currently retired,
keep the check box on. If your client
hasn't retired yet, uncheck the check
and year of their retirement.
If you have a situation where the
clients have two different retirement
start dates, you'll also see the toggle
below to select which retirement date
you want to use for the start of the
income plan. Next, you can enter the
portfolio information. You only need one
portfolio account in order to get to a
plan. But here I'll build a few
different accounts just so you can see
the options available. So first let's
We could put the name, the account type,
the owner. So here we'll put Bill and
And then to add another account, you can
simply click add new right below. So
here we can add Mary's IRA.
Select the account type, the owner, and
Just for example, here we'll add one
more and just open the account types. So
you can see the different account types
available, whether you're adding
qualified accounts, Roth accounts, or
inherit accounts, or other types of
unique accounts like 529s or HSAs. Since
we have at least one account in here, we
can then click let's go to get right to
the plan. But for the sake of this
tutorial, if you want to add more
inputs, you can click add more to your
plan. And then you'll see the option to
add things like other assets. This could
be things like real estate, for example,
businesses, vehicles, or other things
like that. You can add in social
security. And here, for example, with
social security, the easiest option is
to just enter the primary insurance
amount. So here, if I know how much Bill
will get at his full retirement age,
let's say that's 1,600, I could enter
that for him. And then same thing for
You can also add in other income. This
can be pensions, rental property, any
types of other income. Let's say here if
we're adding in a pension, we can again
give it a name, an amount,
who it's earned by, and then select the
tax treatment. You'll see again here we
give you several different options for
the tax treatment. So since it's a
pension here, we can just call it
ordinary income. But if we are adding
current income like their salaries, we
can call that for example a wage. Or if
we're adding in more complicated income
like let's say dividend income, we can
call that investment income. But for
here, since I'm adding the pension, I
will keep it as ordinary income.
You can also add liabilities. Let's say
if we had that mortgage, we could put
that in here. Savings, we'll go ahead
and just do one example here. Since we
have their accounts above, we can maybe
call it Mary's contributions.
Select the target account it's going
into. So, telling the software which
account these contributions are going
into, and then we can select an amount.
It's important here to always put the
amounts in monthly figures as this is a
best practice whenever you're entering
You'll see that you can also enter
expenses if you'd like as well as
You can follow the same process here for
any of these inputs, but if you are
leaving anything blank, you can click
the X at the top of that section to
remove it from your inputs.
Once you're done to get right to the
plan, you can then click let's go to
finish your inputs and jump right into
your plan. And there you have it. That's
how you use the quick create feature to
create a plan in a matter of minutes.
From here, you can analyze the income
plan right from the dashboard. You can
review the cash flows by clicking the
cash flow section. Or if you scroll to
the left here, we can go to the lifehub
and see the full plan laid out. We can
click the boxes at the top here to
expand the inputs. And then we can use
the timeline here to go year by year and
look through every single year of this
plan. You'll also notice you can get to
the retirement stress test or your tax
lab from the left side panel as well.
Thank you for watching this video. We
hope this helps and please reach out to
our team if you have any questions.
Welcome. This video will walk you
through how to use Income Lab's quickre
feature to build a plan in a matter of
minutes. From your main households page,
find the blue add a household button,
then click quickre. First, you'll want
to enter your client information by
filling out their full name,
their birthday. You can use the calendar
icon to select the year and the month,
and then use the toggle to select the
gender. If you have a second person in
the household that you'd like to add,
you can follow the same steps to fill
out their information as well.
Then select the state of residence.
If your client is currently retired,
keep the check box on. If your client
hasn't retired yet, uncheck the check
and year of their retirement.
If you have a situation where the
clients have two different retirement
start dates, you'll also see the toggle
below to select which retirement date
you want to use for the start of the
income plan. Next, you can enter the
portfolio information. You only need one
portfolio account in order to get to a
plan. But here I'll build a few
different accounts just so you can see
the options available. So first let's
We could put the name, the account type,
the owner. So here we'll put Bill and
And then to add another account, you can
simply click add new right below. So
here we can add Mary's IRA.
Select the account type, the owner, and
Just for example, here we'll add one
more and just open the account types. So
you can see the different account types
available, whether you're adding
qualified accounts, Roth accounts, or
inherit accounts, or other types of
unique accounts like 529s or HSAs. Since
we have at least one account in here, we
can then click let's go to get right to
the plan. But for the sake of this
tutorial, if you want to add more
inputs, you can click add more to your
plan. And then you'll see the option to
add things like other assets. This could
be things like real estate, for example,
businesses, vehicles, or other things
like that. You can add in social
security. And here, for example, with
social security, the easiest option is
to just enter the primary insurance
amount. So here, if I know how much Bill
will get at his full retirement age,
let's say that's 1,600, I could enter
that for him. And then same thing for
You can also add in other income. This
can be pensions, rental property, any
types of other income. Let's say here if
we're adding in a pension, we can again
give it a name, an amount,
who it's earned by, and then select the
tax treatment. You'll see again here we
give you several different options for
the tax treatment. So since it's a
pension here, we can just call it
ordinary income. But if we are adding
current income like their salaries, we
can call that for example a wage. Or if
we're adding in more complicated income
like let's say dividend income, we can
call that investment income. But for
here, since I'm adding the pension, I
will keep it as ordinary income.
You can also add liabilities. Let's say
if we had that mortgage, we could put
that in here. Savings, we'll go ahead
and just do one example here. Since we
have their accounts above, we can maybe
call it Mary's contributions.
Select the target account it's going
into. So, telling the software which
account these contributions are going
into, and then we can select an amount.
It's important here to always put the
amounts in monthly figures as this is a
best practice whenever you're entering
You'll see that you can also enter
expenses if you'd like as well as
You can follow the same process here for
any of these inputs, but if you are
leaving anything blank, you can click
the X at the top of that section to
remove it from your inputs.
Once you're done to get right to the
plan, you can then click let's go to
finish your inputs and jump right into
your plan. And there you have it. That's
how you use the quick create feature to
create a plan in a matter of minutes.
From here, you can analyze the income
plan right from the dashboard. You can
review the cash flows by clicking the
cash flow section. Or if you scroll to
the left here, we can go to the lifehub
and see the full plan laid out. We can
click the boxes at the top here to
expand the inputs. And then we can use
the timeline here to go year by year and
look through every single year of this
plan. You'll also notice you can get to
the retirement stress test or your tax
lab from the left side panel as well.
Thank you for watching this video. We
hope this helps and please reach out to
our team if you have any questions.
0:00
Welcome. This video will walk you
0:02
through how to use Income Lab's quickre
0:04
feature to build a plan in a matter of
0:06
minutes. From your main households page,
0:08
find the blue add a household button,
0:11
then click quickre. First, you'll want
0:14
to enter your client information by
0:16
filling out their full name,
0:20
their birthday. You can use the calendar
0:23
icon to select the year and the month,
0:26
and then use the toggle to select the
0:27
gender. If you have a second person in
0:30
the household that you'd like to add,
0:31
you can follow the same steps to fill
0:33
out their information as well.
0:43
Then select the state of residence.
0:47
If your client is currently retired,
0:48
keep the check box on. If your client
0:51
hasn't retired yet, uncheck the check
0:53
box and select the month
0:56
and year of their retirement.
1:04
If you have a situation where the
1:05
clients have two different retirement
1:07
start dates, you'll also see the toggle
1:09
below to select which retirement date
1:11
you want to use for the start of the
1:13
income plan. Next, you can enter the
1:16
portfolio information. You only need one
1:18
portfolio account in order to get to a
1:20
plan. But here I'll build a few
1:22
different accounts just so you can see
1:24
the options available. So first let's
1:26
say we have Bill's 401k.
1:29
We could put the name, the account type,
1:33
the owner. So here we'll put Bill and
1:35
then the amount.
1:38
And then to add another account, you can
1:40
simply click add new right below. So
1:42
here we can add Mary's IRA.
1:47
Select the account type, the owner, and
1:50
then the balance.
1:55
Just for example, here we'll add one
1:56
more and just open the account types. So
1:58
you can see the different account types
2:00
available, whether you're adding
2:02
qualified accounts, Roth accounts, or
2:04
inherit accounts, or other types of
2:06
unique accounts like 529s or HSAs. Since
2:09
we have at least one account in here, we
2:11
can then click let's go to get right to
2:13
the plan. But for the sake of this
2:15
tutorial, if you want to add more
2:17
inputs, you can click add more to your
2:19
plan. And then you'll see the option to
2:21
add things like other assets. This could
2:23
be things like real estate, for example,
2:26
businesses, vehicles, or other things
2:28
like that. You can add in social
2:31
security. And here, for example, with
2:33
social security, the easiest option is
2:35
to just enter the primary insurance
2:37
amount. So here, if I know how much Bill
2:39
will get at his full retirement age,
2:40
let's say that's 1,600, I could enter
2:42
that for him. And then same thing for
2:45
Mary.
2:47
You can also add in other income. This
2:49
can be pensions, rental property, any
2:51
types of other income. Let's say here if
2:53
we're adding in a pension, we can again
2:56
give it a name, an amount,
3:00
who it's earned by, and then select the
3:03
tax treatment. You'll see again here we
3:05
give you several different options for
3:06
the tax treatment. So since it's a
3:08
pension here, we can just call it
3:09
ordinary income. But if we are adding
3:12
current income like their salaries, we
3:14
can call that for example a wage. Or if
3:18
we're adding in more complicated income
3:20
like let's say dividend income, we can
3:21
call that investment income. But for
3:23
here, since I'm adding the pension, I
3:25
will keep it as ordinary income.
3:28
You can also add liabilities. Let's say
3:30
if we had that mortgage, we could put
3:32
that in here. Savings, we'll go ahead
3:35
and just do one example here. Since we
3:36
have their accounts above, we can maybe
3:39
call it Mary's contributions.
3:43
Select the target account it's going
3:45
into. So, telling the software which
3:47
account these contributions are going
3:48
into, and then we can select an amount.
3:51
It's important here to always put the
3:53
amounts in monthly figures as this is a
3:56
best practice whenever you're entering
3:58
inputs into income lab.
4:01
You'll see that you can also enter
4:02
expenses if you'd like as well as
4:04
insurance.
4:07
You can follow the same process here for
4:09
any of these inputs, but if you are
4:12
leaving anything blank, you can click
4:13
the X at the top of that section to
4:15
remove it from your inputs.
4:18
Once you're done to get right to the
4:20
plan, you can then click let's go to
4:22
finish your inputs and jump right into
4:23
your plan. And there you have it. That's
4:26
how you use the quick create feature to
4:28
create a plan in a matter of minutes.
4:30
From here, you can analyze the income
4:32
plan right from the dashboard. You can
4:34
review the cash flows by clicking the
4:35
cash flow section. Or if you scroll to
4:37
the left here, we can go to the lifehub
4:39
and see the full plan laid out. We can
4:42
click the boxes at the top here to
4:43
expand the inputs. And then we can use
4:45
the timeline here to go year by year and
4:47
look through every single year of this
4:49
plan. You'll also notice you can get to
4:51
the retirement stress test or your tax
4:53
lab from the left side panel as well.
4:56
Thank you for watching this video. We
4:58
hope this helps and please reach out to
5:00
our team if you have any questions.