Learn about the Other Income place

Learn about the Other Income place

Use the Other Income place (in the Lifetime Planner) to tell Money about income you earn outside of your career, both now and in the future.

In the Other Income place, you'll:

Tell Money what other income you plan to receive. List gifts, inheritance, alimony, child support, pension, Social Security, trusts, and other income here. Tell Money when the income will begin and end.
See a summary of your other earnings. Click an item in the list and click Edit to modify its details.

What doesnÆt count as income?

Rental income Include this in the Accounts place when you create a house account. See Track income and expenses for a rental property and Enter a transaction.
Investment income Include this in the Investments place instead. See Create an investment account.
Employer contributions to retirement plan Include this in the Accounts place (and/or in Lifetime Planner's Savings & Investments place) instead. See Track employer matching in a retirement account.

What about tax refunds?

It's best not to overpay taxes year after year and then plan on a refund. Instead, adjust your withholdings to better match what you owe, and plan on no refund.

Play the Getting Started With the Lifetime Planner video.

Why would I want to exclude something from my plan?