Recent disruptions in the financial markets have raised questions about how to include sudden losses in your MaxiFi model.
If there is a change in your 2020 labor earnings, certainly go ahead and enter that change. That would be true in any market conditions.
In order to account for the current market activity there are two approaches.
1. Use Settings & Assumptions to change the current year safe return expectations to a percentage you think you will earn for the entire year given your asset allocation. Obviously if you are all stocks and don't intend to change that aggressive allocation, then you might expect a pretty low return or at least want to model that very low return for the current year (2020). But if you are allocated with a conservative 20/80 (stocks/bonds) then you might assume a much less drastic negative return for the current year.
After setting the current-year return, use the checkbox options below that setting to indicate a change in that return assumption back to a normal, cautious return of 1.25% or 2.25% in the following year (2021).
2. The second approach involves changing your beginning-of-the-year balances to bake in those losses and not changing your rate of return assumption. This change will approximate the impact on your model, though it's not as easy or "precise" as speculating about a new rate of return for the first year (current year) as described in option #1 above.
Remember, the return rate you enter using option #1 is for the entire 2020 year, not just year-to-date, and it's not an assumption about "market return" (which often refers to the DOW or S&P index) but rather your assumption is about your personal return based on your asset allocation which may be a much less negative return than 100% stocks would provide.
You can read this page to learn more about deterministic and stochastic planning approaches and how they work in MaxiFi Planner.