Total Planning Suite
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User Guide
Quick Start Guide
The Basics
• This guide will go through entering a new client with TOTAL Planning Suite.
• Will cover the essential information needed for a basic plan.
• To get more information, use the [F1] key or select the icon located at the top right of the window for context-sensitive help.
• For more complex plans, see the General User Guide on our website: www.moneytree.com
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Starting a new client
Select New Client, and then select “Create an empty client” on the next window.
Note: The Quick Entry Wizard is used to fill in the basic data entry fields using the wizard
format. You may still need to walk through the plan and enter more specific data and
Future Changes if needed.
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Client Information
Necessary information includes first and last names, birthdates, and if the clients are
married (used for survivorship, taxes and Social Security calculations).
Gender, address, phone number and account type can be filled out but are not required.
When finished entering the clients’ information, select “New Scenario” on the left panel.
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Assumptions: Scenario Information
To use a date other than today’s date on the cover page, use the “Cover Page Date” box. Example: You are meeting with the client on February 2nd , 2017 instead of the date you created the plan.
Enter the Scenario name (to replace “New Scenario”), enter the client’s names to be used on
the cover page, and enter Header text to appear at the top of each page in the report page.
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Assumptions: Scenario Information
Set the clients’ retirement ages in the “Retire Age” box.
To use a life expectancy different than the calculated
one, enter the override age in the “Alt Life Exp” box.
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Assumptions: Retirement Assumptions
You can defer the RMD start
age here.
Pre-Retirement Rates: The default rates of return for each type of asset. These rates apply
only if rates have not been entered in the Asset Details input fields.
Use This Rate After Retirement: If checked, the Post-Retirement Rates will be used starting at retirement and will overwrite any rates entered in Asset Details.
Use check boxes to choose to
“Calculate Penalty Taxes on Pre
59.5 plan distributions”, or
“Include Retirement Plans Asset
Allocation Mix, Asset Pyramid,
and Liquidity Reports”.
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Assumptions: Surplus Allocation
Surplus allocation applies to Golden years reports throughout the plan and Easy Money reports after retirement. To change the percentage reinvested into each account type, select the “Edit Allocation” button.
In Easy Money, the pre-retirement reinvestment percentages will only apply to surplus created by Other Income items, unless there is a shortage created by other expense items. Easy Money will not reinvest cash flow surpluses generated by ordinary income and expenses until after retirement age.
Ignore Pre-retirement Cash Flow Surplus or Shortage: Makes the Golden Years report work more like Easy Money.
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Assumptions: Other Assumptions
Monthly Accumulation Rates (Easy Money Only): Used for Retirement
Needs Analysis. These rates of return are used to demonstrate
additional funds that the client may need to invest pre-retirement in
order to cover their retirement spending needs.
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Assumptions: Report Options
Personalize font and heading color for reports.
Report Cover Page Lines: enter advisor information.
Include Audit Trail notes on reports: This option adds an audit trail note (number/letter combination) refers to the page in the report on which the detail for the amount being shown on the viewed report page is located. This makes it easy to trace back numbers used in calculations by referencing the audit trail in the same column as the number in question.
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Asset Details / Asset Details Tab
Select the “Add Asset” button to enable the asset detail entries.
For single-unit assets (such as a house, personal property, Etc.) enter 1 share or unit and use the total value of the property in the $ Price Share / Unit field.
Each asset MUST have a Group and Type selected to be included in the reports.
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Asset Details: Asset Details Tab
If the default rates entered in Assumptions are accurate for the assets in this scenario,
leave rates entered in Asset Details at 0%. The default rates entered in Assumptions will be
used ONLY if no assets of a type have a rate of return in Asset Details.
To enter specific rates for each asset, use the rate boxes here in the Asset Details tab. If a
rate of return for one asset of a type (Taxable, Equity/Other, etc.) is entered, enter a rate for
each of the assets of that type.
Check if Used for Retirement: Deselect if the asset will appear only in the Current Net
Worth report and will not be available for cash flow needs.
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Asset Details: Monthly Additions/Withdrawals
Use the Monthly Additions / Withdrawals tab to add or withdraw value from an asset. Enter
additions as a positive number and withdrawals as a negative. Entries in the "Current" and
"Retirement" boxes are for additions only, any "Current" additions will continue up until
retirement and will not continue unless also entered in the "Retirement" fields.
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Asset Details: Future Change Table
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To stop additions or withdrawals entered in the future change table, enter a stop age in
the bottom box with a $0 amount. A stop age is only needed if the future change table is
used to enter a start amount, no stop age is required when using the "Current" fields.
Asset Details: Residence Tab
The Residence tab can be used to sell a
residence asset at a future date and to purchase
a new residence. Entries for a new mortgage %,
interest rate and number of years will be used to
create a new mortgage liability and down
payment to purchase the new residence.
To view the Residence Tab, you must first select ‘Residence’ as the group
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Asset Summary: Qualified Plan Additions
To maximize contributions to a type of qualified plan each year, the program will calculate an amount based on the clients’ income and contribute it automatically.
Choose the type of plan to maximize contributions to from the drop-down.
Note: If you maximize contributions in this tab, any additions you make in the
Asset Details tab will be added on top of your maximum allowable contribution.
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Dependents: All Dependents Tab
To calculate college expenses,
enter current college savings, and
enter monthly deposits, go to each
of the dependent’s tabs and enter
cost per year and number of years
for college.
Dependents entered are picked up
as dependents for tax calculations.
Deduct education expenses from
savings/investment assets: Determines if
college costs are deducted from the parents’
assets once education funds are depleted.
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Dependents: College Cost Estimator
The “College Cost Estimator” is a
great tool for computing education
costs. Money Tree updates the
tuition for each school annually.
Select the state, school, add in
housing costs, and build in either
a percent of tuition for other
expenses, or enter a specific
amount of other expenses.
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Income: Earned Income
Earned Income: Show salary and wages for each individual. Self Employment wages
entered will have FICA calculated at the self-employed rate.
Tax $ column: Reduced for HSA accounts or other pre-tax deductions not already taken
into account by the program. Retirement account additions will be calculated before taxes.
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Income: Earned Income
Tax $ column: Determines what portion of wages are used for tax calculations.
Cash Flow $ column: The amount that will be available cash flow for spending purposes.
Disability $ column: The amount this individual would continue to earn if their spouse
becomes disabled. (This shows up only on the Disability reports in Easy Money.)
Survivor $ column: The amount this individual would continue to earn if their spouse dies.
(This shows up only on the Survivor and Insurance reports.)
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Income: Social Security
For Easy Money reports, you can set the portion of SS that is taxable or let the system
compute by leaving this set to 0%.
If the benefit is unknown, select the estimate button. For Optimal this will be the button
next to the Full Retirement Age Benefit field, for Manual it is the button with three dots.
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Use the “NOT qualified
to receive SS benefits”
checkbox to turn off
Social Security benefit
calculations, including
spousal and survivor
benefits.
Income: Social Security Continued
Use the dropdown to select either Manual filing strategy or Optimal.
Manual: Enter an age to start benefits at, and the benefit that would start at that age.
Optimal: Enter the Full Retirement Age benefit to have the program calculate what would
be the most beneficial start age based on the client’s birth date.
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Note: Amounts entered
should be in today’s
dollars, the COLA rate
listed at the top will be
applied to entered
benefit amounts from
today forward.
Income: Pensions
Two pensions
can be entered
per individual.
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Survivor Benefits as a % of Pension is used for the survivor benefit after
normal life expectancy. Amount Payable $/mo to Survivor Now is any benefit
amount that would pay to a survivor if a death of owner occurred today.
Income: Other Income / Expense
Although Easy Money does not apply pre-retirement cash flow shortages and surpluses
to asset balances, items entered in Other Income/Expenses do affect assets. If using
Easy Money and enter pre-retirement income items that are being spent instead of added
to assets, show the corresponding expenses as Other Expense to offset the income.
Use Other Income/Expenses
to capture income or expenses
that do not fall into earned
income or annual expenses.
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Tax Data: Tax Data Tab
Most income tax items are picked up automatically from other entries. Use Tax Data to
enter only items not already in other sections (such as capital loss carry-forward).
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Tax Data: File Status/Options
To set the break points for state taxation of income, select “Tools” and then “Settings/ Defaults-
New Contacts”. Select the state to make changes to from the dropdown and enter the
breakpoints for that state. Select the appropriate boxes for Social Security taxation and
Retirement account withdrawal taxation.
When in a clients’ scenario and select the state for tax purposes, these breakpoints will be used.
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Tax Data: File Status/Options
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Select the appropriate Tax Filing Status, number of exemptions, number over 64 of blind,
and State for filing (and one for after retirement if they client plans on moving at that
point). Indicate if wages are exempt from FICA taxes, enter the Self-Employment Medical
Insurance Premiums, and enter alimony owed with an end age.
Tax Data: Itemized Deductions
Items such as charitable contributions, medical expenses, and property taxes can be
entered as Itemized Deductions instead of Personal Expenses.
Items entered in Itemized Deductions are picked up as expenses for Cash Flow and also
used for tax calculations. Deductions amounts used may change according to calculated
AGI in each year.
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Liabilities
Enter liabilities for items such as credit cards, mortgages and auto loans in Liabilities.
Interest can be deducted from taxes by selecting the checkbox.
Residence mortgages may be tied to the asset by choosing Residence mortgage as the
type, and selecting the residence description from the Residence Asset drop-down box.
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Liabilities
The program will calculate an amortization schedule for the loan using the Current
Balance, Monthly Payment, and Interest Rate. The loan expense will be automatically
stopped at payoff.
If the loan will be paid off early, use the Balloon Payoff Age. The payoff balance will be
calculated as an additional expense for that year.
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Loan payments for
liabilities entered are
added as an expense
for cash flow.
Insurance: Life Insurance
Add, delete, suppress
benefits (for either or both
individuals), include cash
values in liquidity reports,
or select that the lower
limit for insurance need
calculations is equal to the
immediate cash need.
Premiums are included in
cash flow as an expense.
To have insurance appear
after retirement, enter a
Retirement Face Amount.
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Insurance: Worksheet Tab
Use the “Worksheet”
tab to enter changes
such as an end to a
term insurance
policy or changes to
premium amounts.
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Insurance: Misc. Insurance
Miscellaneous Insurance: Policies such as auto, homeowners, disability, and medical.
Premiums will automatically be included in cash flow as an expense.
The worksheet tab can be used to make future changes to premiums.
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Personal Expenses
Personal expenses can be entered individually or lumped together as
a single miscellaneous expense. The list of expenses at the top of the
screen will show you a summary of your entries. Expense descriptions
can be edited once you highlight that expense in the summary list.
Entry fields will appear below the
summary of expenses when an item
is selected in the summary section
above. Enter either a monthly or
yearly amount, but not both (that
would double the expense).
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Enter a current amount, retirement amount, Disability
percentage, and Survivor percentage per month or year.
Use Current Age and Retirement Age boxes in the center
of the screen for each expense, the future change table is
also available for fine-tuning expenses by age.
A summary of all expenses
appears in the Summary
(Current and Retire Age) box.
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Personal Expenses
Quick Start Guide Thank you for taking the time to review the introduction to Quick Start Guide.
Questions?
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Ask Money Tree’s Support Team
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