The next step is to input the client’s pension assets. As you can see from the input screen below, you can include both client and spousal pensions. Also, the system allows you to adjust the way pension funds are withdrawn. This is especially important, as for some clients it will make sense to use the pension assets as quickly as possible, while other clients will be better served in taking only minimum distributions. Wealthy and Wise typically demonstrates that “Pension Last” is usually the more desirable option. How can you tell? Do one scenario with Pension First and another with Pension Last as the only change. Compare the results.

You can also choose to use the term “Retirement Assets” rather than “Pension Assets” on the report generated by this input section. Use the “Report Options Sub-Tab” under the “Pension Assets Tab” to do this.