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This Financial Plan Software Fully Integrates the Regular Modules, Just Like Our Main Competitors
Now there is no reason to spend a fortune on other financial planning software that has only a tiny fraction of the functionality, control, and power. This allows the creation of full-blown professional financial plans with integration, transparency, control over most every number in every year, no duplication of input, and complete control of printed reports. Now you can maximize your income by giving clients substantial value for thousands in annual fees. It allows complete evaluation of any scenario, has a superior methodology of doing Monte Carlo simulations, you can have as many versions as you want, and allows you to see two scenarios at once (current vs. proposed). You can ignore the details to make quick plans, or spend hours creating valuable masterpieces. The following modules are hard-wired together to give complete and automatic integration (where all of the data between the modules is shared):
Dual Real World Retirement Software To keep this page simple, you can read the details by clicking a module link above. Some of the functionality had to be limited because of the hard-wiring, but not much (so you can still control most every number in every year). So it still does way more critical tasks, and shows way more important information than any other financial planner, no contest. The very long version is in the directions. Here's the short version: The heart of the integrated planner is the Dual RWR retirement planner (Financial Planner). Most of the generic input is done on the Master Input sheet, and flows throughout the other modules, so you'll never have to input anything twice. Asset information is input into the Net Worth Projector. Investment assets used for retirement are hard-wired into the appropriate slots from the Net Worth Projector to the Financial Planner and College Planner, and the Investment Planner. Then cash flows from investment additions and the College Planner flow into the Cash Flow Projector (the savings along the way and amounts needed to fund the out-of-pocket cash flow deficits caused by not enough savings), which then go into the Financial Planner. Pre-retirement annual cash flow surpluses or deficits are added to, or deducted from, all of the investment assets in the Financial Planner pro-rata according to size. During retirement, depleting asset values from the Financial Planner flow to the Net Worth modules. This is how everyone else does it, but better. You can choose which college plan to use (public vs. private), or not to use either, in the current and proposed versions separately. You can also turn on and off one student's college funding independently. If you don't want to take the time of inputting a complete budget and cash flow analysis, you can flip a switch and the retirement income goal function works just like it does on the stand-alone version of RWR. You can have the current version gets its cash flow data from the Cash Flow Projector, and the proposed version get it just from RWR (or vice versa). You can still keep things simple by using only one module at a time by ignoring input needed for the other modules. So you can still do a college funding plan without inputting budget data, and just a retirement plan without inputting college data, etc. It shows an obvious blue color on the cash flow and net worth projectors in the year of retirement and afterwards. This makes it easier to turn things on and off around retirement. Everything stops showing automatically in the final year on all of the modules. Things like this make it almost as user-friendly as major competitors. It has a Cost Benefit Ratio sheet so you can show the bottom-line value of the plan to the client. It shows how much net worth increased per every dollar of fees paid over three time periods. It also has three current vs. proposed tables and charts to show the differences in net worth, incomes, and expenses. This sells the plan all by itself. You can easily run disability, nursing home, and death scenarios by stopping incomes, contributions to assets, and tweaking expenses (e.g., adding insurance premiums to the proposed version, while showing the financial disaster of not being insured in the current version). It comes with all of the pertinent financial planning Fact Finders (In-person Fact Finder, Fact Finder Parts II and III). For e-mail delivery, it comes as three 4Mb zipped files and three small Word docs. So you'll get four huge e-mails (or it's $9 more to get a CD). Unlike the sample plans and demos of the individual modules, which show off tons of bells and whistles that no other financial plan software can do, the sample plan (and demo) shows a typical case with an average amount of input. The results: Not only was the Sample family able to comfortably retire with repositioning of investments (which got a little higher return), whereas before they ran out money around 90, John and Mary are now both able to retire one year earlier, with both higher inflation and tax assumptions. The only compromise is that the three kids had to go to a public college instead of going to an Ivy-league college. They should have sold more newspapers! This is not truly "comprehensive financial plan software" because it doesn't calculate detailed taxes owed (like Quicken), nor does it do estate planning. It does everything else, way better than anything else. We recommend getting Quicken to do taxes, and Leimberg's Number Cruncher for estate planning (and then you can integrate the results into this). Then you'll have the best of all worlds for a great price. In order for the IFP to calculate taxes owed and do estate planning, a whole person would have to be hired to maintain just taxes and estate planning. That would double the price and cause tons of other problems (that vendors with this function have to battle daily). Then the biggest problem with calculating taxes far into the future is that tax laws change way too much. With programs that calculate taxes owed (e.g., NaviPlan), it goes off and just assumes that current tax law will be the same twenty years from now. This has never happened. So you're locked into using these assumptions, and they cannot be changed. So even though it does a good job for the first few years, you're then locked into using something that you know will be wrong after that. You can control all of this in any year only with the IFP. So for calculating taxes, the IFP allows you to have total control over taxes. Yes, tax rates can be different between the current and proposed versions. First you can manually input the amount of taxes paid in every year for all four tax categories (federal, state, FICA, and local/misc.). Next, you can choose to let the IFP automatically calculate a percentage of taxes in all four tax categories. When you choose this way of doing things, each four categories of tax rates can be changed in every year. You can use the Average Tax Bracket Calculator at the far right of the Financial Planner module to estimate these rates in a few seconds. The bottom line is that the IFP allows you to control taxes in every year using both methods. So if you think the Dems are going to win a future election, you can show this increase in tax rates then. With NaviPlan, you're stuck forecasting current rates for fifty years, when you know they'll be going way up in the next year. There's details on a lot more valuable features listed on page 30 of the manual in the Basic Concepts section. Why aren't you taking advantage of this? Send e-mail and if you have an interesting reason, then you may get a freebie. There's no contest when it comes to the value for the price. Be sure to see the list of reasons why this way of doing things is vastly superior to the competition. To download the demo, right click on the link below, and then choose "Save (Target) As..." to save to your hard drive. Then find it and open with Excel. Please note that due to Microsoft indifference, if the colors don't look great, it's because they didn't care to bother with color compatibility between versions. You'll get a spreadsheet with good colors when you buy. Answers to frequently asked demo questions and how to use demos Download the integrated sample financial plan in PDF format. You can get rid of the ad at the bottom of the first page, and use your own firm information, by downloading and editing the cover page. You can get rid of the site info on the text pages by downloading and editing them. There is no investment / asset allocation report because there's a limitation on the number of pages that can be on one PDF. Plus it's too simple with this basic financial plan. The asset allocation module can best viewed on this PDF or on the demo. Directions on how to present Sample Financial Plans to clients and prospects Download the non-functional Integrated Financial Planner demo modules:
Dual Real World Retirement Software
Proposed Net Worth Projector
Proposed Five-Student College Planner
Not only is this the best program ever for making financial plans, our Investor Models have over ten years of historical investment returns that beat everything we could find - even Warren Buffet's Berkshire Hathaway (BRK-A)! Comparison charts for all that are on the main asset allocation page. |
Personal Finance Software Modules
Menu of Retirement Planning Software Asset Allocation Overview with Our Historical Returns Asset Allocation Models with Our Historical Returns Monthly Updated Mutual Fund Picks Financial Planning Fact Finders Investment Policy Statement Software Investment Software for Comparing 23 Methods of Investing Buy Term Life Insurance and Invest the Difference in Mutual Funds vs. Whole Life Net Worth CalculatorVariable Annuity Tutorial and Optimizer Services Evolve into a Wealth Planner with this Unique Practice Management and Marketing System Fee-only Consulting for Consumers, Investors, and Financial Planners Building Custom Investment Benchmark Portfolios Coaching for Financial Planners Buy or Sell an Investment Management or Financial Planning Practice Asset Allocation for 401(k) / 403(b) and Similar Retirement Plans |