What should be entered as a Lifestyle asset
Lifestyle Assets are only needed for calculating government Age Pension entitlements, so if the case will not include any Age Pension calculations (e.g. because the individuals will still be under 65 at the end of the 20 year analysis), you do not need to enter any lifestyle assets.
The following should be added as a Lifestyle Asset:
Any other items that will be assessed for an Age Pension entitlement that are not entered elsewhere in Pathfinder (e.g. assets)
Do not enter as a Lifestyle asset:
Assets that have been added elsewhere - If you have already entered the asset under a different category (e.g. Family home, cash), it does not need to be entered again here.
How to add a Lifestyle Asset
To add a Lifestyle Asset, go to the Current situation (top menu) step and then the Assets & Loans sub-step (on the top menu), then click the Add Assets button (on the left menu)
Modelling options for Lifestyle assets
Estimate government Age pension
Government Age Pension payment estimates are included by default in all cases. For more, see How to include or exclude the Government Age Pension
Assume the asset value increases
To do this, for the value field, adjust the series builder 'Index by' field. For more information, see How to use the series builder
Assume the asset value depreciates
To do this, adjust the Value field with the instructions in How to enter depreciation.
Purchase or sale of lifestyle assets
If you are buying or selling lifestyle assets (e.g. car purchase), you can enter it as a Cash flows, rather than a Lifestyle asset:
Results for Lifestyle assets
Lifestyle assets are only used to estimate the Age Pension. For more, see Retirement Planning and Build Super results.