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Income Lab review for financial advisors

By William Foster · Updated October 23, 2026

Verdict: Income Lab is best for advisors whose clients mostly ask retirement income, Roth conversion and Social Security questions. Pricing: From $199/mo ($1,990/yr annual). Skip it if you need full cash-flow planning for complex businesses and estates in one enterprise platform.

How we review: this is an editorial summary of what Income Lab publishes about its product and pricing, checked on October 23, 2026. We haven't run a hands-on test, we don't give star ratings, and vendors can't pay to change it.

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At a glance

Best for	Advisors whose clients mostly ask retirement income, Roth conversion and Social Security questions
Category	Financial planning software
Starting price	From $199/mo ($1,990/yr annual)
Free option	14-day free trial of Pro (credit card required).
Pricing model	Published on the vendor's website
Website	incomelaboratory.com/

What Income Lab does

Income Lab says its platform covers retirement income planning with spending guardrails and stress testing, Roth conversion and tax-aware withdrawal planning, Social Security claiming analysis and broader planning such as college funding. Its Pro plan adds Penny, an AI paraplanner that can build a plan from meeting notes or old plans, analyze an uploaded 1040 and search a whole book of clients for opportunities such as Roth windows and IRMAA thresholds, with a Verify button to audit the math. It lists CRM sync with Redtail, Wealthbox and Salesforce and says it is SOC 2 Type II.

Key capabilities, per Income Lab

Guardrails-based retirement income planning with stress tests
Roth conversion, withdrawal sequencing and Social Security tools
Penny AI paraplanner on Pro: plans from meeting notes, 1040 analysis and book-wide opportunity search

Good fit if

You want advisors whose clients mostly ask retirement income, Roth conversion and Social Security questions.

Skip it if

You need full cash-flow planning for complex businesses and estates in one enterprise platform.

What to check before you buy

Penny and the AI tools require Pro.
The trial needs a credit card and auto-converts to Pro.
Decide whether it replaces or sits alongside your current planning software.
Have your compliance team review data handling and recordkeeping before any client data goes in.

How Income Lab compares on price

Tool	Starting price	Free option	Details
Income Lab	From $199/mo ($1,990/yr annual)	14-day free trial of Pro (credit card required).	Pricing details
RightCapital	From $149.95/advisor/mo	14-day trial offered.	Pricing details
eMoney Advisor	Contact vendor	None listed	Pricing details
MoneyGuide	From $175/advisor/mo	None listed	Pricing details
Holistiplan	From $749/yr	Free trial offered.	Pricing details
Asset-Map	From $149/mo	None listed	Pricing details

List prices from each vendor's website as of October 21, 2026.

Income Lab vs RightCapital · Income Lab vs eMoney Advisor · All Income Lab alternatives

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FAQ

Is Income Lab good for financial advisors?

It's a strong fit for advisors whose clients mostly ask retirement income, roth conversion and social security questions. Retirement income planning software for advisors with spending guardrails, tax planning and Penny, an AI paraplanner.

What are Income Lab's main features?

Guardrails-based retirement income planning with stress tests. Roth conversion, withdrawal sequencing and Social Security tools. Penny AI paraplanner on Pro: plans from meeting notes, 1040 analysis and book-wide opportunity search.

Who should not use Income Lab?