From the toggle menu ("View/Hide") click "Add Asset"
Enter required and optional data and save changes to apply this financial to the Asset-Map Report.
As with any financial edit window, required fields are in red. Select type, and choose who it is for. Enter what it is called, where it is located and how much it is.
The value of the asset is what it's value is today. Or, designate an age or date that the value is available in the future. Use the Future Value check box if the value is inflated.
Asset-Type - Choose the type of asset from the drop-down list. Some of the fields change with the asset type. The appearance will change on the Asset-Map Report depending on the asset type and the check boxes select before you save it. And, don't forget to give yourself credit if you manage it by clicking the "Under My Management" check box.
*Tip: Use the Reference Name and Location fields creatively depending on the information you need, the conversation you would like the have, or what makes sense to your client.
Reference name = "Old 401k", Location = "Where?"
Reference name = "Brokerage", Location = "Risk?"
Reference name = "Inheritance", Location = "from Mom"
Reference name = "Jr's 529", Location = "@ age 18"
Take note of the appearance of the various edit windows and financials below.
*Tip: Enter ongoing contributions for retirement accounts on the Details tab.
*Tip: For education funding (or any other asset where the controller of the asset is different than the interested member) select the dependent as Interested Member.
Enter ongoing contributions for a 529 (education asset) on the Details tab, then click the Grantor or Custodian drop-down to choose a parent. By doing so, the asset will appear with the child as well as on the parent's assets list.
*Tip: Use Residence to enter properties of any sort (land, rental, warehouse, etc.)
The Details and Note tabs are available to log more details about the item for future reference.
Tags: onboard, expense, 401k, 529, 403b, real estate, property, home