Change Account Priority button

Last updated:
December 10, 2021

The Change Account Priority button allows you to decide how you’d like to pay for your Plan for education life event. When you add this life event to your timeline within BodesWell, you will have the option to select which accounts you’d like to use to pay for those costs. This feature is designed to help you conceptualize how your financial plan will be impacted as account balances change due to the realization of this life event. 

When you add the Plan for education costs life event in BodesWell, you can customize which account(s) you’d like to use to pay for that event with the “Adjust account draw” button. To access this button, simply select the Plan for education costs life event, and it will appear at the bottom of the panel that opens on the left-hand side of the screen. Once you click on the “Adjust account draw” button, you’ll see a list of your accounts. You can use this list to select which accounts you’d like BodesWell to use to pay for the education costs. The list also allows you to drag and drop different accounts in the order of which you’d like BodesWell to pull funds from to pay for that event. Please note that when you initially add the Plan for education life event to your timeline, BodesWell will create a default account draw order for you based on which accounts we believe you are likely to draw from based on your goal. 

If you add the Plan for education costs life event to your timeline, you can link that life event to whichever account(s) you’d like to use to pay for those costs. If you’d like to use two or more accounts to pay for that life event, you can also specify which order you’d like BodesWell to pull from. For instance, if you’d like to use a 529 and your Basic Savings account to cover those educational expenses, you can tell BodesWell you’d like the 529 to be pulled from first and when that balance finishes to pull from your Basic Savings account. 

To change the order of the displayed accounts, click on the double lines located on the left side and drag the respective account to where you’d like it to be placed. You can also use the check box to select the accounts you’d like BodesWell to draw from. BodesWell will then draw from the selected accounts in the order you defined.