What is Test Plan and how should I use it?
  Because Income Lab plans are built for ongoing monitoring and management, with retirement income that dynamically adjusts to changing household and economic circumstances, you may be curious how a given dynamic retirement income plan might play out. You may have questions like: How likely is it that income will be higher or lower than expected? ...
How are income scenarios ranked in the Test Plan?
When looking at the Example Income Scenarios in the "Test Plan" section, you may notice that the income lines for the example scenarios may cross each other. For example, in the graph below you'll see that the dark blue line showing the 'Median' example is higher than the green 'Best' line early in the plan and the red 'Worst' line is higher than se...
What does Legacy Amount measure in the Legacy Example Scenarios table?
Legacy Amount is the investment portfolio assets remaining and available for legacy needs at the end of a given plan in a given test scenario. You can toggle between nominal (i.e., estimated future dollar amounts) and real (inflation-adjusted/today's dollar amounts) in the upper right-hand corner of this section....
What is "First Point Below Minimum" and "Time Below Minimum" in the Income Example Scenarios table?
Income Lab helps advisors and clients explore possible income experiences that could be produced when following a given dynamic income plan. These "below minimum" measures report on if, when, and for how long households would have had income below their essential monthly income. First Point Below Minimum measures how far into retirement, measured fr...
What do "First Point Below Legacy Goal" and "Time Below Legacy Goal" measure in the Legacy Example Scenarios?
These measures help in evaluating the risk that a plan's legacy goal may not be met. First Point Below Legacy Goal reports on the earliest point (measured in months) in a given test scenario that a household would have had assets available for legacy needs below the household’s legacy goal. Years Below Legacy Goal reports how many months this test h...
Income Ceilings and 'Test Plan' Results
 Video: Income Ceilings and 'Test Plan' Results Tutorial Video Transcript here I have two plans one with a ceiling 0:04 on the income and one without we're 0:05 looking at the plan that doesn't have a 0:07 ceiling and we can see the test plan 0:10 results are 73% of the time above 27 0:13 below average above almost 50% best case 0:17 almost double ...
Understanding Test Plan Results
The “Test Plan” section of Income Lab offers a way to explore the ways a plan might progress through a huge number of possible futures. However, by providing such a broad reach, it can be somewhat difficult to interpret these large-scale results. Those looking for easier-to-follow single-example versions of what Test Plan does should use the Retirem...