How to Run a Plan Out of Money - Creating a $0 Balance

welcome this video will give you a guide

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on how to model an income lab plan to

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force the balance to end at zero or to

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force the spending to take the balance

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down in the plan at the end of the plan

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you may have noticed that with the guard

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reils and adjustment approach in income

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lab when you go into the test plan

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section here and we're looking at those

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Legacy goals you'll see that even in for

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example here in our worst case scenario

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the spending still leaves in this case

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$600,000 left in the portfolio at the

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end and sometimes we do have users who

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want to run a scenario where we see that

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balance go down to zero here um to model

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the clients balancing that last check or

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spending at a level

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where their balance does go down all the

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way at the end in order to do this the

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easiest thing to do is turning off the

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lower guard rail so right now the reason

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why these balances aren't hitting zero

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is because the software is also designed

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to allow the clients to spend less and

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make that adjustment to protect that

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portfolio balance in that

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Legacy so in this case what we need to

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do is we click the three dot icon in the

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top right of our screen we select

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advance

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settings then if you scroll down you'll

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want to click income settings and check

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the box to customize income plan and

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then at the bottom here uncheck this box

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for the lower guard Grill to turn off

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the lower guard Grill after that click

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save and go back to your

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plane and I have a scenario where I've

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done just that open that one

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up similar thing to what I mentioned

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here you'll see I've got my customized

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in complain and guard Grill settings

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turned on but I turned off the lower

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guard Grill

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so back on the Legacy page for this plan

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now that I turned off that lower guard

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you'll see in this case you know in our

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worst case we're -2 in the balance 181

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our 10th percentile you know 973 in our

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25th and you can kind of see that moblin

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here where in those scenarios where the

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lower guard ril would have kicked in

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instead we turn it off and the client

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just kep

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spending to get that balance all the way

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down

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that's it we hope this helps please

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reach out to our team if you have any

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questions