J&L Software - Retirement and Financial Planning Software
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J&L Financial Planning Software

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Using The J&L Financial Planning Software

There are 3 simple steps to create and execute a scenario:

  1. Go to the Edit menu and select Initial Values.

    • Fill in the Start Age and End Age.

    • Fill in the Effective Tax Rate and Inflation Rate.

    • These rates can be changed in the scenario at any age with a Fundamentals event as described below.

  2. Click on the Accounts Folder and click on the Add button. This will bring up the Account Information dialog.

    • Fill in the information for each account.

  3. Click on the Scenario Folder and click on the Add button. This will bring up the Scenario Events menu that allows you to add financial events to the financial plan.

    • Each Scenario Event interacts with the accounts over time.

At any time during these steps you can go to the Results Folder, one of the Graph Folders, or one of over 35 screen and printed reports to see the results of your change or changes.

For a comprehensive explanation of the program's features and tools:
Download the J&L Software's Financial Planner Manual
Download the J&L Software's Financial Planner Manual

Here Are The Screens And Dialogs Involved In This Process

Initial Values Dialog

Initial Values Dialog

First, set the time span for the execution of the plan as well as the tax, inflation, and early withdrawal penalty rates. The other values and rates represent the initial state of all the accounts at age Start Age, the age the plan begins.

Accounts Folder

Accounts Folder

Second, enter your account data using up-to-date balances. The program allows importing account balances in tab or comma delimited text files from other programs and data bases. The Add button on the Account Folder will bring up the following screen which allows you to input a new account. The Edit button allows you to edit an existing account. Up to 50 accounts can be created.

Account Information Screen

Account Information Screen

Enter the information for each account using the Account Information Dialog. Here you give each account a name, account balance, the type of account (Investment, Tax Free, Retirement, Equity, or Asset.) The help files outline how the program handles each of these account types. You can also assign a group to each of the accounts. The groups are user-defined and allow you to view your accounts in various categories. Assign the account an effective rate, or the optional Assign Rate Components that allow you to add more detail as to how the accounts return is calculated. Among the other options is the ability to assign an Access Order to the account which provides the program with the draw-down order of the accounts. You can assign up to 15 asset classes to each account. All of the options are outlined within the help files and manual.

Scenario Folder

Scenario Folder

Third, add the financial events to your scenario (plan) that define your present and future income and expenses. There is no limit to the number of events you may enter. Each event has a Start Age and an End Age, as well as an action that interacts with you accounts.

The following events are added or edited with the respective Add or Edit button on the Scenario Folder.

Deposit Event

Deposit Event

The Deposit event will deposit the amount of money entered into the Amount field to the selected account annually beginning at the Start Age and ending at the End Age unless the "One time only deposit" box is checked. In this case one deposit is made at the Start Age and any entry in the End Age is ignored.

Withdrawal Event

Withdrwal Event

The Withdrawal event will withdraw the amount of money entered into the Amount field annually from the selected account beginning at your Start Age and ending at your End Age unless you check the "One time only withdrawal" button. In this case one withdrawal is made at your Start Age and any entry in the End Age is ignored. If the funds are withdrawn from a Retirement Type Account the appropriate tax is incurred. If the funds are withdrawn from a retirement account prior to the Penalty Age the appropriate penalty will be incurred.

Transfer Event

Transfer Event

The Transfer event transfers an amount from one account to another. Unless you check the "One transaction only" box or the "Transfer all funds at Start Age" box, the transfer will take place annually from the Start Age until the End Age. If the "From" account is depleted the remaining funds in that account will be transferred and an alert will be posted. If the money is to be taken from a Retirement Savings account and transferred to a non-retirement account the appropriate tax is incurred. If transferred before the Penalty Age the appropriate Penalty Rate will be applied.

Mortgage Event

Mortgage Event

The Mortgage event is used to purchase property at the Start Age. The full amount paid for the property should be entered into the Amount field. The amount of the loan is calculated using the Amount field minus the Down Payment field. If the mortgage is to be paid off prematurely, put this age in the Payoff Age field. If the property is to be sold before the loan term, put the age when the sale is to take place in the Sell Age field. The numerous options the Mortgage Event provides are explained fully in the help files and manual.

Loan Event

Loan Event

The Loan event is used to borrow an amount of money at the Start Age. The full amount borrowed should be entered into the Amount field. To pay off the loan prematurely, put this age in the Payoff Age field.

Budget Event

Budget Event

The professional version implements the Budget as an event allowing an unlimited number of budgets. Each budget has a unique name, a Start Age, and an End Age. Each budget can contain up to 30 income or expense items.

Reverse Mortgage Event

Reverse Mortgage Event

The Reverse Mortgage event implements a loan against a primary residence. The program does not have the means to check if the data provided to the Reverse Mortgage Event is correct. This data must be gathered from other sources on a case-by-case basis. The various options this event provides are explained fully in the help files and manual.

Credit Card Event

Credit Card Event

This event creates a credit card Balance at the Start Age. Each month the Monthly Purchases are added to the balance, the interest calculated, and the principal portion of the payment subtracted from the balance. Each month the payment is withdrawn from the selected account. When the account is depleted the amount will be withdrawn from the accounts in the order defined in the Accounts Folder.

Fundamentals Event

Fundamentals Event

The Fundamentals event allows you to change the rates at which the calculations are based at any age. If you do not create a Fundamentals event the rates contained in the Initial Values table and the Accounts are used throughout the scenario. Place the age in which the changes are to take place in the Start Age field and enter any or all of the rates to be changed. Only those rates that are different from the current rates at the start age of the event are affected. More than one Fundamental Event can be added to a scenario.

Results

When the scenario is complete the results can be viewed and analyzed with the programs many methods, including 35 reports which can be viewed as screen reports and printed reports, various graphic folders that can be printed. The reports can be customized to meet your needs including using your own logo, banner, and water mark. The instructions are included in the help files and manual.

Here Are Some Examples

Results Folder

Results Folder

Graphic Results Example

Graphic Results Example

Printed Net Worth Report Example

Printed Net Worth Report

Note: The J&L Software banner, logo and watermark, if shown on the example reports, are for the purpose of example only. The banner, logo and watermark can be turned on and off through an option in the program, and can be substituted with your companies banner, logo, and watermark. The instructions for doing this are included in the manual and help files. They are available in the professional version only.
Displaying the line and bar graphs as part of the report is also optional.
Note: Actual print quality is far superior than images.

Cash Flow Printed Report Example

Cash Flow Printed Report

Note: The J&L Software banner, logo and watermark, if shown on the example reports, are for the purpose of example only. The banner, logo and watermark can be turned on and off through an option in the program, and can be substituted with your companies banner, logo, and watermark. The instructions for doing this are included in the manual and help files. They are available in the professional version only.
Displaying the line and bar graphs as part of the report is also optional.
Note: Actual print quality is far superior than images.

Cash Flow Screen Report Example

Cash Flow Screen Report

Asset Allocation Graphic Folder

Asset Allocation Graphic

Account Asset Allocation Screen Report Example

Account Asset Allocation Screen Report

Account Asset Allocation Printed Report Example

Asset Allocation Printed Report

Note: The J&L Software banner, logo and watermark, if shown on the example reports, are for the purpose of example only. The banner, logo and watermark can be turned on and off through an option in the program, and can be substituted with your companies banner, logo, and watermark. The instructions for doing this are included in the manual and help files. They are available in the professional version only.
Displaying the line and bar graphs as part of the report is also optional.
Note: Actual print quality is far superior than images.

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