Patent ID: 8768800
Filing Date: 2014-07-01
Classification: G06Q

Abstract:
1. A method for using a desktop including a display for forecasting a likelihood that a customer's assets held in a plurality of different types of customer accounts at retirement meet in-retirement goals, including an annual income withdrawal goal, an estate goal, and a years in retirement goal, the method comprising: inputting said annual income withdrawal goal, said estate goal, said years in retirement goal, and a current asset allocation, and identifying one of said in-retirement goals as a priority goal; inputting customer financial information including: (1) financial holdings from both inside and outside financial institutions and which financial institutions currently house the financial holdings; (2) whether each financial holding is a tax-deferred account; (3) input from other income planning tools including retirement planning and investment verification applications; and (4) for equities, bonds, or mutual funds, the CUSIP or symbol, number of shares held, and whether the dividends are being reinvested; performing an analysis based on the customer financial information, said in-retirement goals, and said current asset allocation; forecasting, by using results of said analysis, said likelihood that said customer assets at retirement meet said priority goal; providing an in-retirement income stream withdrawal strategy, wherein said income stream withdrawal strategy provides tax advantages and wherein said income stream withdrawal strategy provides for a first time period and said income stream withdrawal strategy avoids withdrawal of assets from tax-deferred accounts during the first time period, and said income stream withdrawal strategy providing for withdrawal from one or more tax-deferred accounts during a second time period; displaying a findings overview report based on said analysis to the customer, wherein the findings overview report includes the in-retirement goals, and the likelihood that the priority goal will be met if the in-retirement income stream withdrawal strategy is followed, wherein the likelihood is displayed as a percentage, and the findings overview report further including an asset drawn down schedule which shows a predicted end of year account balance for each of the plurality of different types of customer accounts if the in-retirement income stream withdrawal strategy is followed; projecting annual snapshot cash flows from said current asset allocation and determining if a gap exists between said projected cash flows and said income goal, wherein both the inside and outside investments are analyzed to determine the projected cash flows; displaying a current performance planning table to the customer, wherein said current performance planning table includes current yield and total return information to determine which holdings of said assets provide cash flow versus growth required to meet said in-retirement goals, and further wherein said current performance planning table includes information on each asset's annual income, 1-year and 5-year total returns, and current value, wherein the findings overview report, asset draw down schedule, and current performance planning table are displayed to the customer to assist in determining the likelihood of meeting the customer's in-retirement goals as well as to assist in determining whether to perform an alternative analysis based on reprioritized in-retirement goals to improve the customer's likelihood of meeting the in-retirement goals, wherein the alternative analysis at least includes an analysis based on altering the customer's current asset allocation or relaxing at least one of the in-retirement goals; performing the alternative analysis by recalculating information based on the reprioritized in-retirement goals, wherein the likelihood of meeting the in-retirement goals is determined while all other goals are held constant; displaying a modified findings overview report, asset draw down schedule, and current performance planning table based on the alternative analysis; and recommending a course of action based on juxtaposing the customer's current asset allocation against relevant benchmarks for each cash flow category.