Overview
What If Considerations are optional plan stressors which help reflect the impact of events and risks which are outside of the client’s control on the current planning conversation. These may include events like systemic cuts to Social Security or Pensions, unexpected market performance, or changes in life expectancy. Like Actions, the advisor can add as many as necessary to address client concerns in the planning conversation. Scenario actions can be adjusted to help test these changes or users may elect to have specific scenarios to address the what-if consideration stressor.
Life Expectancy
Life Expectancy
Life Expectancy
By allowing changes to life expectancy, the plan can be tested for longevity risk or immediate or future insurance needs.
Investment Risk
Life Expectancy
Life Expectancy
The advisor can test unexpected market performance like large return drops in the market or concentrated position. Additionally, users are not limited to a single event, but can add multiple market tests with different severity at any time in the plan. The considerations can be toggled to act as a wallet of risk tests that can be applied individually or in combination.
Income Risk
Life Expectancy
Income Risk
What If Considerations also include the ability to stop or pause employment for each individual client. By prematurely ending employment or going on sabbatical, the plan conveys the impact of the other planning elements which are linked to employment such as potential employer plan additions, income, and insurance coverage.