Planit:Cash Flow Management Screen Case Study

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Canada English

Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her RRSP and other investments. She earns $120,000 of personal income and $1,400 of investment income. In addition to the $13,200 saved into her RRSP account, Debbie saves $6,000 into her Non-Registered Account and $1,500 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter $120,000 in the Personal Income field. Enter $1,400 investment income in the Investment Income field. Enter the $13,200 in the RSP Savings The additional $6,000 can be included under Other Savings. Finally, for Education Savings input the 1,500 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his CPP pays out $7,630 annually, and his Work Pension pays $28,000. Alice tells you that her CPP pays out $2,300 annually. They also earn $2,000 in investment income (each). They estimate they are spending about $75,000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the CPP and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the CPP and other benefits. Enter 2,000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 75,000 the clients are currently spending in retirement. Click Calculate

United States of America

Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her Qualifying Investment Account and other investments. She earns $120,000 of personal income and $1,400 of investment income. In addition to the $13,200 saved into her Qualifying Investment Account account, Debbie saves $6,000 into her Taxable Investments and $1,500 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter $120,000 in the Personal Income field. Enter $1,400 investment income in the Investment Income field. Enter the $13,200 in the Qualifying Investment Account Savings The additional $6,000 can be included under Other Savings. Finally, for Education Savings input the 1,500 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Social Security pays out $7,630 annually, and his Work Pension pays $28,000. Alice tells you that her Social Security pays out $2,300 annually. They also earn $2,000 in investment income (each). They estimate they are spending about $75,000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Social Security and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Social Security and other benefits. Enter 2,000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 75,000 the clients are currently spending in retirement. Click Calculate

Argentina

Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her AFJP and other investments. She earns $460 000 of personal income and $5 000 of investment income. In addition to the $50 000 saved into her AFJP account, Debbie saves $25 000 into her Other Investments and $6 000 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter $460 000 in the Personal Income field. Enter $5 000 investment income in the Investment Income field. Enter the $50 000 in the The additional $25 000 can be included under Other Savings. Finally, for Education Savings input the 6 000 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Pension pays out $30 000 annually, and his Work Pension pays $110 000. Alice tells you that her Government Pension pays out $9 000 annually. They also earn $7 500 in investment income (each). They estimate they are spending about $285 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Pension and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Pension and other benefits. Enter 7 500 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 285 000 the clients are currently spending in retirement. Click Calculate

Brazil

Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her Tax Sheltered and other investments. She earns R$8 600 000 of personal income and R$100 000 of investment income. In addition to the R$950 000 saved into her Tax Sheltered account, Debbie saves R$400 000 into her Open Account and R$100 000 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter R$8 600 000 in the Personal Income field. Enter R$100 000 investment income in the Investment Income field. Enter the R$950 000 in the Tax Sheltered Savings The additional R$400 000 can be included under Other Savings. Finally, for Education Savings input the 100 000 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Pension pays out R$500 000 annually, and his Work Pension pays R$2 000 000. Alice tells you that her Government Pension pays out R$165 000 annually. They also earn R$150 000 in investment income (each). They estimate they are spending about R$5 400 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Pension and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Pension and other benefits. Enter 150 000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 5 400 000 the clients are currently spending in retirement. Click Calculate

United Kingdom

Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her ISA and other investments. She earns £75 000 of personal income and £1 000 of investment income. In addition to the £8 000 saved into her ISA account, Debbie saves £4 000 into her Tax Efficient Investments and £1 000 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter £75 000 in the Personal Income field. Enter £1 000 investment income in the Investment Income field. Enter the £8 000 in the ISA Savings The additional £4 000 can be included under Other Savings. Finally, for Education Savings input the 1 000 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his State Pension pays out £5 000 annually, and his Work Pension pays £15 000. Alice tells you that her State Pension pays out £1 400 annually. They also earn £1 200 in investment income (each). They estimate they are spending about £45 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the State Pension and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the State Pension and other benefits. Enter 1 200 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 45 000 the clients are currently spending in retirement. Click Calculate

Russia

Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her Investment Account and other investments. She earns руб.3 600 000 of personal income and руб.40 000 of investment income. In addition to the руб.400 000 saved into her Investment Account account, Debbie saves руб.180 000 into her Non-Registered Account and руб.45 000 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter руб.3 600 000 in the Personal Income field. Enter руб.40 000 investment income in the Investment Income field. Enter the руб.400 000 in the Investment Account Savings The additional руб.180 000 can be included under Other Savings. Finally, for Education Savings input the 45 000 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Pension pays out руб.230 000 annually, and his Work Pension pays руб.840 000. Alice tells you that her Government Pension pays out руб.70 000 annually. They also earn руб.60 000 in investment income (each). They estimate they are spending about руб.2 250 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Pension and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Pension and other benefits. Enter 60 000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 2 250 000 the clients are currently spending in retirement. Click Calculate

China

Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her Personal Retirement Insurance Account and other investments. She earns ¥780 000 of personal income and ¥9 000 of investment income. In addition to the ¥85 000 saved into her Personal Retirement Insurance Account account, Debbie saves ¥40 000 into her Investment Account and ¥10 000 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter ¥780 000 in the Personal Income field. Enter ¥9 000 investment income in the Investment Income field. Enter the ¥85 000 in the Personal Retirement Insurance Savings The additional ¥40 000 can be included under Other Savings. Finally, for Education Savings input the 10 000 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Pension pays out ¥50 000 annually, and his Work Pension pays ¥180 000. Alice tells you that her Government Pension pays out ¥15 000 annually. They also earn ¥13 000 in investment income (each). They estimate they are spending about ¥485 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Pension and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Pension and other benefits. Enter 13 000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 485 000 the clients are currently spending in retirement. Click Calculate

Malaysia

Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her EPF and other investments. She earns RM360 000 of personal income and RM4 000 of investment income. In addition to the RM40 000 saved into her EPF account, Debbie saves RM20 000 into her Non-EPF and RM4 500 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter RM360 000 in the Personal Income field. Enter RM4 000 investment income in the Investment Income field. Enter the RM40 000 in the EPF Savings The additional RM20 000 can be included under Other Savings. Finally, for Education Savings input the 4 500 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Pension pays out RM23 000 annually, and his Work Pension pays RM85 000. Alice tells you that her Government Pension pays out RM7 000 annually. They also earn RM6 000 in investment income (each). They estimate they are spending about RM225 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Pension and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Pension and other benefits. Enter 6 000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 225 000 the clients are currently spending in retirement. Click Calculate

Singapore

Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her CPF and other investments. She earns S$155 000 of personal income and S$2 000 of investment income. In addition to the S$17 000 saved into her CPF account, Debbie saves S$8 000 into her Non-CPF and S$2 000 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter S$155 000 in the Personal Income field. Enter S$2 000 investment income in the Investment Income field. Enter the S$17 000 in the CPF Savings The additional S$8 000 can be included under Other Savings. Finally, for Education Savings input the 2 000 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his CPF pays out S$10 000 annually, and his Work Pension pays S$36 000. Alice tells you that her CPF pays out S$3 000 annually. They also earn S$2 500 in investment income (each). They estimate they are spending about S$97 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the CPF and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the CPF and other benefits. Enter 2 500 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 97 000 the clients are currently spending in retirement. Click Calculate

Hong Kong

Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her Personal Retirement Insurance and other investments. She earns HK$900 000 of personal income and HK$10 000 of investment income. In addition to the HK$100 000 saved into her Personal Retirement Insurance account, Debbie saves HK$45 000 into her Investment Account and HK$11 000 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter HK$900 000 in the Personal Income field. Enter HK$10 000 investment income in the Investment Income field. Enter the HK$100 000 in the Personal Retirement Insurance Savings The additional HK$45 000 can be included under Other Savings. Finally, for Education Savings input the 11 000 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Pension pays out HK$60 000 annually, and his Work Pension pays HK$120 000. Alice tells you that her Government Pension pays out HK$17 000 annually. They also earn HK$15 000 in investment income (each). They estimate they are spending about HK$560 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Pension and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Pension and other benefits. Enter 15 000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 560 000 the clients are currently spending in retirement. Click Calculate

India

Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her MPF and other investments. She earns 5 300 000 of personal income and 60 000 of investment income. In addition to the 600 000 saved into her MPF account, Debbie saves 250 000 into her Open Investments and 70 000 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter 5 300 000 in the Personal Income field. Enter 60 000 investment income in the Investment Income field. Enter the 600 000 in the MPF Savings The additional 250 000 can be included under Other Savings. Finally, for Education Savings input the 70 000 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Savings pays out 335 000 annually, and his Work Pension pays 1 200 000. Alice tells you that her Government Savings pays out 100 000 annually. They also earn 90 000 in investment income (each). They estimate they are spending about 3 300 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Savings and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Savings and other benefits. Enter 90 000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 3 300 000 the clients are currently spending in retirement. Click Calculate

Caribbean

Jamaica   Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her Retirement Investments and other investments. She earns J$9 900 000 of personal income and J$115 000 of investment income. In addition to the J$1 100 000 saved into her Retirement Investments account, Debbie saves J$500 000 into her Investment Account and J$125 000 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter J$9 900 000 in the Personal Income field. Enter J$115 000 investment income in the Investment Income field. Enter the J$1 100 000 in the Retirement Investments Savings The additional J$500 000 can be included under Other Savings. Finally, for Education Savings input the 125 000 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Savings pays out J$630 000 annually, and his Work Pension pays J$2 300 000. Alice tells you that her Government Savings pays out J$190 000 annually. They also earn J$165 000 in investment income (each). They estimate they are spending about J$6 200 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Savings and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Savings and other benefits. Enter 165 000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 6 200 000 the clients are currently spending in retirement. Click Calculate Trinidad and Tobago   Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her Long-Term Investment and other investments. She earns TT$730 000 of personal income and TT$9 000 of investment income. In addition to the TT$80 000 saved into her Long-Term Investment account, Debbie saves TT$35 000 into her Open Investments and TT$10 000 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter TT$730 000 in the Personal Income field. Enter TT$9 000 investment income in the Investment Income field. Enter the TT$80 000 in the Long-Term Investment Savings The additional TT$35 000 can be included under Other Savings. Finally, for Education Savings input the 10 000 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Savings pays out TT$45 000 annually, and his Work Pension pays TT$170 000. Alice tells you that her Government Savings pays out TT$14 000 annually. They also earn TT$12 000 in investment income (each). They estimate they are spending about TT$460 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Savings and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Savings and other benefits. Enter 12 000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 460 000 the clients are currently spending in retirement. Click Calculate Barbados   Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her Tax Sheltered Investments and other investments. She earns Bds$230 000 of personal income and Bds$3 000 of investment income. In addition to the Bds$25 000 saved into her Tax Sheltered Investments account, Debbie saves Bds$12 000 into her Investment Account and Bds$3 000 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter Bds$230 000 in the Personal Income field. Enter Bds$3 000 investment income in the Investment Income field. Enter the Bds$25 000 in the Tax-Sheltered Investments Savings The additional Bds$12 000 can be included under Other Savings. Finally, for Education Savings input the 3 000 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Pension pays out Bds$15 000 annually, and his Work Pension pays Bds$55 000. Alice tells you that her Government Pension pays out Bds$5 000 annually. They also earn Bds$4 000 in investment income (each). They estimate they are spending about Bds$145 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Pension and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Pension and other benefits. Enter 4 000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 145 000 the clients are currently spending in retirement. Click Calculate Bermuda   Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her Tax Sheltered Investments and other investments. She earns BD$115 000 of personal income and BD$1 400 of investment income. In addition to the BD$13 000 saved into her Tax Sheltered Investments account, Debbie saves BD$5 8000 into her Non-Tax Sheltered Investments and BD$1 500 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter BD$115 000 in the Personal Income field. Enter BD$1 400 investment income in the Investment Income field. Enter the BD$13 000 in the Tax-Sheltered Investments Savings The additional BD$5 8000 can be included under Other Savings. Finally, for Education Savings input the 1 500 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Pension pays out BD$7 400 annually, and his Work Pension pays BD$27 000. Alice tells you that her Government Pension pays out BD$2 200 annually. They also earn BD$2 000 in investment income (each). They estimate they are spending about BD$75 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Pension and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Pension and other benefits. Enter 2 000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 75 000 the clients are currently spending in retirement. Click Calculate Bahamas   Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her Tax Sheltered Investments and other investments. She earns B$115 000 of personal income and B$1 400 of investment income. In addition to the B$13 000 saved into her Tax Sheltered Investments account, Debbie saves B$5 800 into her Non-Tax Sheltered Investments and B$1 500 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter B$115 000 in the Personal Income field. Enter B$1 400 investment income in the Investment Income field. Enter the B$13 000 in the The additional B$5 800 can be included under Other Savings. Finally, for Education Savings input the 1 500 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Pension pays out B$7 400 annually, and his Work Pension pays B$27 000. Alice tells you that her Government Pension pays out B$2 200 annually. They also earn B$2 000 in investment income (each). They estimate they are spending about B$75 000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Pension and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Pension and other benefits. Enter 2 000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 75 000 the clients are currently spending in retirement. Click Calculate Puerto Rico   Example One: Working Client Debbie tells you that she is saving what she feels is quite a large amount into her Retirement Investment and other investments. She earns $120,000 of personal income and $1,400 of investment income. In addition to the $13,200 saved into her Retirement Investment account, Debbie saves $6,000 into her Retirement Investment Savings and $1,500 for her son’s education. Solution Using the Summary Cash Flow Management Screen: On the Cash Flow Management screen you will add in all incomes, savings, and any tax deductions in order to deduce income taxes and living expenses. Enter $120,000 in the Personal Income field. Enter $1,400 investment income in the Investment Income field. Enter the $13,200 in the Retirement Investment Savings The additional $6,000 can be included under Other Savings. Finally, for Education Savings input the 1,500 identified. Click Calculate so that these values are saved into the Detailed Cash Flow Example Two: Retired Clients Walter tells you his Government Pension pays out $7,630 annually, and his Work Pension pays $28,000. Alice tells you that her Government Pension pays out $2,300 annually. They also earn $2,000 in investment income (each). They estimate they are spending about $75,000 annually in their retirement. Solution Using the Summary Cash Flow Management Screen: Use the screen drop-down menu to go to the Cash Flow Management screen. In the Client’s Personal Income, you should enter the total value of the work pension and the Government Pension and any other retirement benefits. In the Spouse’s Personal Income, enter the total value of the Government Pension and other benefits. Enter 2,000 in the field Client’s Investment Income and Spouse’s Investment Income since they both receive this amount. In the extra Family Expenses field, enter the 75,000 the clients are currently spending in retirement. Click Calculate

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