Summary:

This feature is designed to take any data input under the ‘Finances’ section of a client account and determine how much money would be needed in order to fund a special needs trust. The calculator will display if there is a funding gap (or excess assets) with the input assets, income, and expenses, and shows variations of this that include and exclude the use of government benefits.

This calculator uses a Monte Carlo Simulation to achieve the outcomes. This feature is only available on client accounts that are on a Paid Plan.

Usage:

On the ‘MYTO Calculator’ subsection of the ‘Finances’ section of a client account is where a user can run a simulation. On this subsection there will also be a list of prior simulations that have been run. Each simulation that has been run prior can be reviewed or selected to be displayed in the ‘Finance Graph Widget.’

To run a simulation there are two buttons on the subsection page titled ‘Calculate’ and ‘Create Simulation.’ The ‘Calculate’ button will allow the user to run a simulation based on the current assets, income, and expenses input into the ‘Finances’ section of the portal. The simulation parameters can be altered prior to running this simulation.

The ‘Create Simulations’ button will allow a user to create temporary financial data to be ran in the specific simulation and/or import the current data that is already in the other subsections. This allows the user to create mock scenarios to see how different numbers affect the outcome.