Goal-Based Investing - How to Add Outside Accounts

When opting into the goal-based strategy, savers also have the option to include accounts that they earmarked for retirement other than their employer’s retirement plan (“Outside Accounts”). 

How to add outside accounts:

Add these sources of retirement income by selecting “Manage” under the “Outside Accounts” section on the right hand of the screen.

Option 1 - Manually Add Accounts: Add a Savings, Retirement, or Brokerage account, and input the account name and balance.

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Savers can always edit the account details or remove the account by selecting the 3 dots next to the listed account.

Option 2 - Link Accounts: Directly link accounts through Plaid.

  • Select an institution
  • Login to the bank account portal
  • Select the account that is to be added
  • Once selected hit "Apply Changes"

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Unlink accounts by selecting the minus button listed next to the linked account. 

Savers can link up to five outside accounts and add five manual account balances earmarked for retirement.

Once you finish adding information for your Outside Accounts, savers will see the breakdown of a  general estimate broken out by income source. The feature’s algorithm will indicate the potential likelihood of reaching their stated retirement income goal. If the algorithm indicates that the saver's current retirement savings strategy is unlikely to meet their desired yearly retirement income goal, the feature provides a few suggestions that savers may wish to consider:

  • Save More - the saver may wish to contribute more money to their retirement savings by increasing the deferral rate or amount.
  • Retire Later - savers may wish to delay their retirement age to allow for more time to save.
  • Spend Less - the saver may wish to reduce their selected retirement income goal.

For any questions please reach out to help@vestwell.com.

 

All investments have risks, including the possible partial or total loss of principal. All information provided to you by Vestwell, including through use of the Advisor Managed Accounts Feature or on our Help Center, is for general information purposes only and is not intended and should not be interpreted by you or anyone else as legal, tax, investment, or other professional advice on any matter. None of the information provided to you regarding the Advisor Managed Accounts Feature should be construed as a solicitation, recommendation, or endorsement of any strategy to buy, hold, or sell any securities or make any investments. We do not make any guarantee or other representation in any way regarding the future value or investment performance of your account. The output of any tool provided to you is a general estimate only, it is hypothetical in nature, it represents one of many potential outcomes relating to your retirement plan account, and the actual results, performance, or events relating to your retirement plan account may differ materially from the general estimate. Individual participants should consider engaging their own financial professional before making any investment or other decisions relating to their retirement plan. Please refer to the prospectus, plan communications and notices, and other information provided to you for more information about other risks relating to the investments available to your plan.