Income Lab

Income Lab provides retirement income management software for financial advisors. The platform helps advisors create personalized retirement income plans by incorporating features like annuity modeling, stress testing, and tax optimization. Its core technology includes a calculation engine that uses historical data and current economic conditions to generate customized retirement solutions. The software enables advisors to illustrate how clients can navigate periods of high inflation or market volatility through spending adjustments, showing how retirees can maintain their lifestyle with minor temporary modifications when needed. As of May 2023, the platform includes real historical scenario testing capabilities across periods like the Great Depression, Post-War Period, 1970s Stagflation, the Dot-Com Bubble, and the Global Financial Crisis. In January 2024, Income Lab introduced Life Hub as a standalone financial planning tool priced at USD 49 per month, offering features like withdrawal sourcing, Social Security planning, and tax strategy optimization. In September 2024, the company expanded its capabilities to include comprehensive annuity modeling and comparison tools, allowing advisors to evaluate different annuity options and their impact on retirement spending.

The software integrates with multiple custodians and uses a cloud-native, Python-based service architecture running on AWS Lambda for scalability. The platform converts complex retirement calculations into clear visualizations through its user interface, helping advisors explain retirement strategies to clients.

Key customers and partnerships

Income Lab maintains integrations with major financial institutions including Schwab, Fidelity, and Altruist. In November 2023, the company partnered with BridgeFT to integrate multi-custodial data into its platform. The software is used by advisory firms of various sizes, including Conscious Capital and Safeguard Wealth Management. In 2024, the company established an integration with PreciseFP for enhanced data gathering capabilities.