How Do Inflows and Outflows Operate in Income InSight for a 401(k)?

When entering a qualified account for a client case, the section marked "Inflows and Outflows" allows for the entry of certain data specific to the 401(k). The distinction lies between the contributions and the planned withdrawals. Contributions are the pre-tax funds being placed into the 401(k) on a monthly basis. End dates for those contributions may be at a specific date, particular age or at death. Planned distributions may be entered accordingly. Both allow for cost of living adjustments (COLAs) to be entered.