System and method for income planner

A computer-implemented method comprising:

• receiving a current asset allocation and in-retirement goals, the in-retirement goals comprising an income goal, an estate goal, a years in retirement goal;
• receiving input to set a first one of the in-retirement goals as priority goal;
• performing, using a computer, an analysis based on the in-retirement goals, the priority goal and the current asset allocation, the analysis ensuring that the priority goal is met;
• providing, using the computer and based on the analysis, an in-retirement income stream withdrawal strategy, wherein said withdrawal strategy:
• avoids withdrawal of assets from tax-deferred accounts during a first time period, and
• provides for withdrawal from one or more tax-deferred accounts during a second time period;
• generating, using the computer and the results of the analysis, a findings overview report and an asset drawn down schedule, wherein:
• the findings overview report includes the in-retirement goals, the first likelihood that the priority goal will be met if the in-retirement income stream withdrawal strategy is followed, and
• the asset drawn down schedule shows a predicted end of year account balance for each of different types of customer accounts if the in-retirement income stream withdrawal strategy is followed;
• determining, based on the findings overview report and asset draw down schedule, to perform an alternative analysis based on reprioritized in-retirement goals to improve likelihood of meeting the in-retirement goals, wherein the alternative analysis at least includes an analysis based on altering the current asset allocation or relaxing at least one of the in-retirement goals;
• setting a second one of the in-retirement goals as an updated priority goal;
• performing, using the computer, the alternative analysis based on the updated priority goal, the alternative analysis ensuring that the updated priority goal is met, wherein the likelihood of meeting the in-retirement goals is determined while all other goals are held constant;
• generating, using the computer and the results of the alternative analysis, a modified findings overview report and a modified asset draw down schedule based on the alternative analysis;
• and
• recommending a course of action based on the modified findings overview report and the modified asset draw down schedule.