Quick Gap Analysis
The Quick Gap Analysis calculator gives a rapid visual presentation of retirement income sources, needs analysis, and shortfall analysis. A comparison between projected income sources and income necessity is easily demonstrated, including projected insufficiencies and savings requirements to fill any gaps.
Income sources can include:
1.The client's and spouse's (optional) retirement plan(s), including defined benefit plans,
3.Savings accounts (such as IRAs or retirement plans from previous employers) ,
4.Known cash flows (such as rental income or part time work), and
5.Lump sum accounts (such as an inheritance or sale of a property).
After the data entry, the projected retirement income is compared to the client's retirement income need; thus, determining additional savings requirements. If necessary, various scenarios are then calculated and displayed as solutions for reaching the desired financial goals for the client's retirement.
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