The Miscellaneous page allows you to specify other costs besides college or retirement, such as automobile, wedding, travel, health care, etc. To enter a miscellaneous expense, do the following:
In the Description field, enter a name for the expense (optional).
In the Begin Year field, enter the start year for the expense. (Must be later than or same as plan start date).
In the End Year field, enter the end year for the expense. (Must be later than or same as Begin Year).
In the Value field, enter a currency amount or percentage.
Click the Value Based on drop-down and select Current Value or % of Assets (Fees). The % of Assets option can be used to enter annual fees.
Click the Inflation-Adjusted drop-down and select Yes or No.
The Inflation field displays the inflation rate specified on the Assumptions page. It cannot be modified.
In the Growth Rate Above Inflation field, enter a percentage. The growth rate is added to the inflation rate and used to calculate cost for subsequent years. The default value is zero.
To add a new row, click Add.
To delete a miscellaneous expense record, check its box and click Delete.
Note: When a transactional account is added to the plan, Morningstar Office will check whether the account includes any systematic withdrawals. If so, you will be given a prompt, asking whether the systematic withdrawals should be included in the plan as miscellaneous expenses. If you choose Yes, the systematic withdrawals will be annualized and appear on the Miscellaneous Expenses page.