Adding Goals in inStream

There are four types of goals within inStream:

  • Retirement
  • Education
  • Lifestyle
  • Legacy

These four types of goals can be classified under two different classes of goals – multi-year and point-in-time goals. The first three types - Retirement, Education, and Lifestyle are multi-year goals. Legacy goals are point in time goals, so we will cover these two types separately.

Multi-Year Goals (Retirement, Education, and Lifestyle)
Since these goals operate the same way, we’ll just look at one type. In this case we’ll walk through how to create an Education goal.

First, we’ll select the Education section, and then click Add an Education Goal and name it.  Next we must select who this goal applies to in the Applies To drop-down menu.  In this case, we will select Joe. Next, we’ll enter the Net Annual Amount in today’s dollars. Then, we need to select over what years this goal applies. We said the goal applies to Joe, so we can just use Joe’s age rather than trying to figure out which years he’ll be in college. So, in this case, we’ll let this goal will start when Joe is 19, and end when he is 22. Now we get to the fun field for Education goals - Inflation. Let’s use the current estimate of 8%. And that’s it. We have all of the info we need for a multi-year goal.

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