Savings Strategies

This page covers the following location(s) in NaviPlan:

Enter Financial Data - Strategies - Savings

Savings Strategy Details dialog

Planning Objectives :: Procedures :: Related Information

Planning Objectives

ClosedWhat is a Savings Strategy?
  • A savings strategy is a plan to contribute a given dollar amount (or percentage of a given income) to a specific asset with a given frequency.
    • Savings strategies can be entered for accounts.
    • You can enter a savings strategy with specific contribution amounts on a regular basis, or as a lump sum amount.
    • Multiple savings strategies can be entered to reflect changes to savings amounts over time.
ClosedWhat does the Maximize Contributions feature do?
  • The Maximize Contributions will always contribute the maximum amount to registeredaccounts even as the federal limit increases.
  • To use this feature, type max in the owner (employee) contribution field.
  • The maximize contributions feature applies to RRSP accounts.

Procedures

ClosedHow do I enter a savings strategy?
  1. Select an accountfrom the Choose Account... menu and click Add Savings Strategy.
  2. Enter details for the newly-created savings strategy.
ClosedHow do I exclude an income from a savings strategy?
  1. Go to the Cash Flow page (Enter Financial Data section - Cash flow category).
  2. Click Details for the income you want to exclude.
  3. Select Exclude from savings strategies and click OK.
ClosedHow can I make changes to how surplus funds are directed?
  1. Go to the Savings page (Enter Financial Data section - Strategies category).
  2. Click Surplus Cash Usage.
  3. Select either Surplus Saving or Surplus Expense and then use Move Up and Move Down to reorder the list.

Related Information




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