Hi. New user here, so completely open to the fact that I am figuring things out. 🙂
Looking specifically at Income: Other Income Sources (I assume it applies to other Income screens as well) it seems the value for Stop date is interpreted differently by Pralana depending on what's been entered for the value of the Start date.
Specifically:
- If I have a $100k income source that starts in 2027 and stops in 2027 (entering the year only), Pralana adds the $100k income to my 2027 Income Projections. (What I'd expect [at least before diving into the UM])
- However, if I change that to stop in 2028, it does not get added as 2028 income. It's still only included in 2027. (Not what I'd expect based on experience above). I'd have to enter 2029 or 12/31/2028 for it to be included.
I see that the first help bubble UM content says that if you enter a year, the income stream will start (or end) on January 1 of that year. However it appears that if the stop date is the same year as the start date, Pralana will include the income stream for the entire year, whereas if the dates are not the same year, Pralana will not do so.
Is that as designed? Seems confusing.
@bkinva I think what you're seeing is Pralana's mechanism for specifying a lump sum income. If the start and stop date is the same, it's treated as a lump sum and you get the entire income amount specified; otherwise, the income is prorated each year based on the start and stop dates.
Stuart
