Major Purchase Objectives

This page covers the following location(s) in NaviPlan:

Set Goals - Major Purchase - Major Purchase

Planning Objectives :: Procedures :: Screen Notes :: Related Information

Planning Objectives

ClosedHow does NaviPlan consider major purchase goals?
  • NaviPlan considers a major purchase goal to be any large expense for which the clients need to save money.
    • For example: a sailboat, a new roof for the house, or a wedding.
ClosedIn what order does NaviPlan liquidate accounts to fund major purchase goals?
  • By default, NaviPlan redeems accounts in the following order:
    • Non-qualified accounts
    • Roth IRAs
    • Qualified accounts and annuities
    • Non-qualified annuities

Procedures

ClosedHow do I define a major purchase goal?
  1. Click Add Major Purchase Objective and make a selection from the menu.
    Note: For all major purchase objective types other than Expense, the new asset is added to net worth and appears on the Net Worth page (Enter Financial Data section - Net Worth category).
  2. Enter basic information for the goal.
    • This includes a Description, a Member, a Target Date, and an Amount for the goal.
    • If applicable, select the Infl and/or +/- Add'l fields to index the cost of the goal.
  3. If applicable, select Details to add additional detail for the goal. For more information on these details see the Major Purchase Goals Objectives Details Help page.
  4. When you are satisfied with these options, click OK.

Screen Notes

ClosedEducation Accounts and Unassigned Accounts
  • All accounts allocated toward the education goal appear on this page under Education Accounts. The market value of each account displayed reflects the value of the account—not the amount allocated to the education goal.
  • Any accounts not allocated to a goal appear under Unassigned Accounts.
ClosedGoal Funding
  • Use this button to view and edit the clients' current allocation of assets to goals. For more information, see the Goal Funding help page.
ClosedSelect Plan Data for Reports
  • Use this button to filter which goals you wish to include in Client Reports. For more information, see the Client Reporting help page.

Related Information




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