Lifetime Planner - updating asset income "todays value" question for old acquired items

GRH

I want to update income amounts associated with rental property assets that are included in my lifetime planner model, where these assets were purchased several years ago. I am unsure if the income value I enter (screenshot attached), in "today's value" is back-dated to the purchase date (2011 in this example) or are applied from "today's" date going forwards.

With the annual inflation, very different cash flows would result and I am not sure if I should adjust the current actual value back to its purchase date equivalent before entering here (hopefully not).

I have a similar question to the asset expense entry (which also has a "today's value" note in its screen), but I assume the same answer should apply to both.

Thanks in advance

Chris_QPW

The Lifetime Planner doesn't have a "history".  It would be nice if it did because then they could have a feature where you could see how well your predictions did.

The Lifetime Planner calculates from what is has now.

In other words let's say you put in 32,000 income and 3% inflation last year.
At that time it would predict in the graph and tables that a year from that date it will be 32,960.

But if you looked at the setting today it would still be 32,000, nothing is going to update that value, unless you do it yourself.

Scooterlam

"Today's Value" would be current year's income, adjusted in the future by your chosen inflation rate.

Quicken LTP plan "looks forward" from the current year.   For 2020, you would put in your full year's 2020 income and Quicken LTP will prorate for the remaining 2 months.   You can check this out by clicking on the Plan Results bar and inspecting the Plan Summary, Other Income line for the given year.

GRH

Got it. I kinda thought that was the right answer, but wanted to confirm.

Chris_QPW

The Lifetime Planner doesn't have a "history".  It would be nice if it did because then they could have a feature where you could see how well your predictions did.

The Lifetime Planner calculates from what is has now.

In other words let's say you put in 32,000 income and 3% inflation last year.
At that time it would predict in the graph and tables that a year from that date it will be 32,960.

But if you looked at the setting today it would still be 32,000, nothing is going to update that value, unless you do it yourself.

Scooterlam

"Today's Value" would be current year's income, adjusted in the future by your chosen inflation rate.

Quicken LTP plan "looks forward" from the current year.   For 2020, you would put in your full year's 2020 income and Quicken LTP will prorate for the remaining 2 months.   You can check this out by clicking on the Plan Results bar and inspecting the Plan Summary, Other Income line for the given year.

GRH

Got it. I kinda thought that was the right answer, but wanted to confirm.