Adding Education Accounts


529 plans are considered exclusive to the student, and therefore will not show up under retirement assets.  In addition, they are not be used to fund retirement goals.

Adding 529 plans or other educational savings is done under the scenario in worksheets>education>education savings.

Under education savings, there are three different account types: Section 529 Plan, Education IRA and Taxable Savings.  Each of these have the same variable data inputs: account balance, rate of return, contribution end age, and a section called “annual contributions” where contributions can be broken out as to “from client” and “from other sources.”  Clicking on the blue details button to the right of either of these three brings up the account details screen.

In this screenshot, details can be added such as an account name, the institution that holds the asset, and the details entered in the first screen.  In addition, allocations can be created to show the actual holdings in the account, and a rate of return can be entered for the account.  The asset allocations can be determined by breaking the account into asset classes like “fixed income”, “Large Cap” etc., or by individual security tickers.



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