Income Lab Reviews & Product Details

Every client asks the same question: how much can we actually spend? Legacy financial planning software answers with a "probability of success" score. Clients want directions, not scores. Income Lab answers in dollars: a monthly retirement paycheck, guardrails around it, and exactly what will change if markets or life do not cooperate. An advisor can say, "You can spend $8,200/month. If the portfolio drops to the lower guardrail, reduce to $7,400." That answer gets built live, in the first meeting. Income Lab is second to none in the full lifecycle of financial planning, with its deepest strength in retirement distribution. It has been the #1 retirement distribution planning tool by market share in the T3/Inside Information Advisor Software Survey three years running. Many advisors run it alongside eMoney, MoneyGuide, or RightCapital, and it works just as well as a stand-alone planning platform. A retirement paycheck with guardrails. Clients see their monthly spending number, an upper guardrail that gives permission to spend more, and a lower guardrail that guards against overspending. Between them sits a no-change range where clients simply live their lives. Monitoring without extra work. Track and Monitor updates every plan monthly, including inflation and cost-of-living adjustments, and tells you when a plan calls for a change. When no change is called for, that is a specific, data-backed conclusion your clients can relax into. Stories, not scores. The Retirement Stress Test walks clients through how their plan would have held up in the Great Depression, 1970s stagflation, and the Global Financial Crisis. Humans understand stories better than math. Tax-aware distribution. Tax Lab runs 20 tax-aware distribution strategies in parallel, covering Roth conversions with bracket management, Medicare premium surcharge (IRMAA) planning, state and local taxes, and qualified charitable distributions. A best-in-industry Social Security Optimizer evaluates more than 9,000 joint claiming combinations for couples. Annuities and pensions are modeled inside the plan, and accumulation coverage keeps growing with Life Hub, the Preretirement Planner, and the Insights Dashboard. AI that analyzes, classifies, and explains, and never does the math. AI Plan Builder turns existing plans and meeting transcripts into a populated household in about 30 seconds. Penny, Income Lab's AI paraplanner, analyzes real client data and recommends strategies with the tax impact calculated by the same deterministic engine that runs every plan. You review, adjust, and sign off. Client data is never used to train language models. The AI Suite comes with the Pro plan. Integrations include Fidelity, Schwab, Pershing, NFS, Altruist, Interactive Brokers, TradePMR, Black Diamond, Orion, Nitrogen, Redtail, Yodlee, and PreciseFP. A guardrails-based plan answers the four questions every client brings to a review: How are we doing? How much can I spend? Should we make any changes? When should I start to worry? Income Lab shows where the money comes from and where the money goes, in a picture rather than a spreadsheet.