Income Lab develops software for retirement income management that utilizes tax-smart distribution planning and interactive financial modeling to provide clear guidance for clients navigating retirement. The platform addresses the complexities of retirement income planning by offering tools that evaluate various decumulation strategies and assess financial sufficiency in a user-friendly format.
Funding
$4.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Retirement income planning is complex, requiring advisors to evaluate various distribution strategies and model financial outcomes to ensure clients' long-term financial security. Traditional methods often lack user-friendly interfaces and the ability to easily assess the impact of different tax scenarios and life events on retirement plans.
Solution
Income Lab provides financial advisors with a retirement income management platform that simplifies tax-smart distribution planning and interactive financial modeling. The platform's Retirement GPS offers turn-by-turn guidance through retirement, while Life Hub provides an interactive one-page plan that integrates life events. Tax Lab facilitates the evaluation of tax strategies, including portfolio distributions and Roth conversions, at the account level. The Retirement Stress Test assesses how a plan would perform under various historical market conditions, increasing clients' confidence.
Target Audience
The primary users are financial advisors who need tools for retirement income planning, tax-efficient distribution strategies, and client communication.
Features
- Retirement GPS: Provides step-by-step guidance for retirement income planning.
- Life Hub: An interactive one-page plan that integrates life events into the financial model.
- Tax Lab: Evaluates tax strategies for portfolio distributions and Roth conversions.
- Retirement Stress Test: Simulates plan performance under historical market conditions.
- Adjustment-based planning: Adapts to changing circumstances.
- Automated updates and alerts: Saves time by automating plan updates.
- Integrations: Connects with other financial planning software.