MasterPlan performs the calculations when you print or view the report or graph. When you are ready to exit this module, click on the Close button. MasterPlan displays this screen:
If you click Yes, MasterPlan will save the college expenses on the client record as part of extraordinary living expenses. It will also save the lump sum that would need to be deposited today at the first after-tax rate of return on the clients Dependents Tab.
MasterPlan will also automatically carry these figures over into any appropriate report. Whether or not you save the expenses, MasterPlan reminds you that a child will be going to college, so you should remember this extra expense when you interpret the reports.
If you click on No, MasterPlan does not carry these totals into those reports, nor does it save the figures.
If you go back and change the values, MasterPlan asks you the same question again, even though you have previously saved values.
If you click on YES the second time, MasterPlan overwrites the old values—that is, it replaces them with the new values, even if they may not have been for the same calendar years.
If you want to zero the education expenses out of Extraordinary Living Expense record for the client household, then you should run the Education Report with 0 values.
You do not need to remove the expenses from the Edit Client | Dependents Tab, however.
Simply click on Reports | Education Needs Analysis. On the Worksheet, change all the Years in College to 0. Run the Table Report, the Text Report, or the Graph to cause MasterPlan to recalculate the expenses to 0 values.
Click on the Save and Close button. MasterPlan will not change the Years in College on the Edit Client window, so you will be retaining the original information that you typed in.
Again, click on Yes when it asks if you want to include the education expenses as part of Extraordinary Living Expenses. This way you are saving zeros instead of the original values you entered.