Lifetime Planner, Increases to Savings
The lifetime planner allows me to enter increases to savings both as yearly percentage increases and as dollar amounts. The planner does not handle these are being mutually exclusive. In other words, I can enter a yearly percentage and then I can enter a dollar amount. The dollar amount need not equal the percentage. The planner will then display both the yearly percentage as well as the dollar amount that I entered.
Is the percentage, then, intended to represent the rate of return on a savings account? And the dollar amount represents my annual contributions? To make this more concrete, let's say I'm talking about a 529 plan. I expect its rate of return to average 5%. I also make annual contributions of $700. Is that the situation Quicken is allowing me to handle?
What's confusing me, is that the planner has a separate section where I specify before and after retirement rates of return. How does that entry impact the yearly increases I enter for each savings account?
Please see the highlighted sections in the attached pic.
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