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Manage Financial Data: Expenses Card

Learn how to efficiently manage and edit a client’s expense data

The Expenses card enables you to define the expenses a client anticipates over their lifetime, including Pre-retirement and Retirement expenses. You can categorize these expenses as Necessity or Discretionary . Both Pre-retirement and Retirement expenses can be organized into phases, each with a specified Start date and End date .

Accessing the Expenses Card



To access the Expenses Card, navigate to the client's Current Data page and locate the Financial Data section. This is where you can view, manage, and update all expense details for the client.

Pre-Retirement Expenses

To add a Pre-Retirement Expense, simply click the "+ Pre-Retirement Expense" button in the Expenses Card.

The available types of Pre-Retirement expenses are:

  • Necessity
  • Discretionary
  • Child Support
  • Medical
  • Attendant Care
  • Charitable Donation
  • Self-Employment Business
  • Carrying Charges and Interest
  • Deductible Spousal Support
  • Other Deductible Amounts
Expense Type and Description:
  • The Type field is always disabled to maintain the nature of the expense, even if the description is unclear. If a change is needed, you must create a new expense and delete the current one. The Description field represents the name of the expense used in reports and calculations, so it should be clear and specific.

Ownership of Expenses:

  • When a Client and Co-client are involved, you must specify the Owner of the expense, which can be individual or joint. Only lifestyle expenses can be jointly owned, while all other expenses must be individually assigned for tax reasons. Ownership also determines how expenses are divided in cash flow reports.

Start and End Dates:

  • The Start date for pre-retirement expenses defaults to the start of the plan year but can be adjusted to reflect when the expense began. Accurate dates ensure precise cash flow calculations and better strategy recommendations. The End date defaults to retirement but can be modified to allow for phased expenses if needed.

Detailed View of Pre-Retirement Expense

More Data Icon:

Located to the right of each expense, the More data icon lets you specify additional details, such as indexing the expense to inflation.

Frequency Options:

The default frequency is Monthly, but it can be changed to any of the following:

    • One time
    • Every N years
    • Annual
    • Semi-annual
    • Quarterly
    • Bimonthly
    • Twice monthly
    • Biweekly
    • Weekly
    • Daily

Retirement Expenses



Click on the "+ Retirement Expense" button to add a Retirement Expense. The types of Retirement Expenses are exactly the same as Pre-Retirement expenses.

The Start date field for Retirement expenses is set to Retirement by default. The date can be changed to whenever the client started incurring this expense initially. Enter the most accurate Start date possible to allow the application to correctly calculate cash flows and provide SAM with a more accurate data set for suggesting strategies.

By default, the End date for each retirement expense is the event of Death, however; you can manipulate the Start date and End date for each retirement expense to create phased expenses over the period of retirement.

Deleting an Expense

An expense can be deleted from a plan by clicking on the Trash Can icon to the left of the expense.