VeriPlan Overview 1: Personal Finance Decisions
VeriPlan Overview: Part 1 of 7
Improving personal finance decisions with VeriPlan
VeriPlan gives you significant personal insight into your most important personal finance and investment portfolio decisions. Through comprehensive and customized lifetime projections, VeriPlan’s integrated financial calculators and investment calculators model your particular financial situation across your adult lifetime. VeriPlan projects fully integrated scenarios about your income, expense budget, debts, investment portfolio assets, investment returns, and investment costs within the context of the U.S. federal, state, and local income taxes that apply to you. VeriPlan presents all your personal lifetime financial modeling information in clear graphics and data tables.
You can easily customize any of your personal data and settings in VeriPlan. After you make any modification, VeriPlan’s financial calculators and investment calculators automatically and instantaneously revise your complete lifetime projection. As you use VeriPlan’s rich set of fully integrated “what if” financial modeling tools, you take control of your own financial, investment, and retirement planning.
Personal Users: VeriPlan helps self-directed personal users to understand the possible future implications of current financial planning behaviors. VeriPlan projections model the lifetime finances of one or two adult users and their dependents. Any family member who resides in the same household may use VeriPlan.
Advisory Users: VeriPlan is a valuable tool for financial advisors who serve the fiduciary interests of their financial planning clients. Advisors can obtain a right-to-use VeriPlan on behalf of their clients, when they provide VeriPlan to their clients.
VeriPlan can help you to analyze important personal finance decisions, including:
- What tradeoffs are associated with accelerating mortgage loan payments or other debt repayments?
- Will I be have enough college savings to pay for my children’s education?
- How could my savings rate and investment strategy affect the size of my estate?
- After my living expenses, how much could I give or bequeath to family and charities?
- How large might my exposures to insurable financial risks be over time?
- How might different budgets for insurance premiums affect my lifecycle financial plan?
Investment Cost Reduction:
- What investment returns might I earn net of investment costs?
- How much could I waste on unproductive investment costs?
- How might I optimize my investment returns, while keeping costs to a minimum?
- How does my current investment strategy compare with a scientific strategy focused on long-term, risk-adjusted returns net of investment costs and capital gains tax?
Investment Risk Management:
- What returns might I expect from the balance of expected investment returns and investment risks that I have chosen?
- Am I saving enough to stay in my investment risk and return comfort zone and still reach my financial planning goals?
- If I were to lose income in the future, how long would my liquid investment portfolio assets cover my projected expense budget?
New Business Ventures:
- What are the likely long-term benefits and risks, if I fore-go current income to start a business?
- Could I self-fund my business venture or would I need external capital?
Personal Career Planning:
- What are the long-term economic benefits of changing positions or employers?
- Would returning to school to improve my career skills make economic sense?
- Could starting a business lead to both entrepreneurial and financial success?
Real Estate Planning:
- When will I have sufficient capital for a real estate purchase?
- How would increased mortgage debt affect my investment portfolio and other financial goals?
- Would I have sufficient investment assets to retire early?
- Would my investment assets be adequate to cover my expenses, if I live a very long time?
- What is a relatively safe asset portfolio withdrawal plan?
- Am I saving at a sufficient rate to fund all our future financial planning goals?
- How much benefit might I expect from increasing my income and/or reducing my expense budget?
- What is the long-term value of saving most of my bonus?
- Am I managing my investments from an income tax efficiency standpoint?
- How much should I put into either taxable, traditional retirement accounts, or Roth retirement accounts?
- Would my retirement portfolio assets be adequate after my income taxes and other taxes are paid?
Personal Financial Planning Software for Individuals
- Guard Your Credit from Financial Identity Theft (Guard Your Credit in the Event of Financial Identity Theft
Without becoming a victim of identity theft, you can get a free credit report from each of the three credit reporting agencies once a year. Federal law requires the three major credit reporting agencies to provide these free reports annually. To satisfy their obligations, Equifax, Experian, [...])
- VeriPlan Lifetime Financial Planner — Annual Version Enhancements (2014 VeriPlan financial planning worksheet enhancements
The 2014 version focused on taxation and parameter updates:
1) Updated US Federal and 50 state + DC tax rates, limits, phaseouts, and other tax parameters using the latest information available. Updated tax information related to traditional and Roth tax-advantaged IRA and employer-sponsored retirement plan contributions and withdrawals.
2) Updated user adjustable [...])
- Fixed Income Investing (Use the best bond investment calculator to understand the projected value of your bond and fixed income assets across your lifetime
To develop your lifetime and retirement calculator projections using VeriPlan's compound investment calculator software, you can enter as many as 24 separate bond and fixed income asset holdings. For each of your current bond and [...])
- Cash Asset Allocation (VeriPlan's investment growth calculator helps you to understand the projected value of your cash assets across your lifetime
To develop your lifetime projections, the VeriPlan compound investment calculator allows you to enter as many as 24 separate cash and cash equivalent asset holdings. For each of your current cash holding in your investment portfolio, you can [...])
- Retirement Investment Calculator (Project your lifetime investment assets using a sophisticated, do-it-yourself retirement investment calculator
VeriPlan's lifetime compound investment calculator retirement software develops customized scenarios that are based on your current personal financial situation and on your goals and objectives for the future. VeriPlan is a sophisticated and fully integrated future value investment calculator that automatically projects the year-by-year [...])
- Roth Estate Planning Strategies (Roth IRA and Roth 401k Accounts and Roth Estate Planning Strategies
There are trade-offs when deciding whether to allocate contributions to Roth retirement savings accounts versus traditional retirement savings accounts that have deferred income taxation features. In the majority of personal finance situations, making 100% of allowable contributions to Roth retirement plans would probably not yield [...])
- Exchange-traded funds (ETFs) versus mutual funds (Exchange-traded funds (ETFs) versus mutual funds
This article provides information about low cost ETFs, which account for only a few percent of the thousand plus ETFs and other exchange-traded products (ETPs) available to US investors. This article covers certain topics related to ETFs that are important to the investor who intends to use very low cost [...])
- Best Investment Strategy (Personal investing seems incredibly complex, but the best investment strategy also tends to be a more simple investment strategy
The complexity of personal investment management is driven by the nature of investing in securities that have uncertain and unknowable future values. Nobody -- amateur or professional -- has a working crystal ball that can predict future [...])
- Annual Tax Calculator (VeriPlan estimates your lifetime annual taxes in 8 different tax categories
The VeriPlan tax planning calculator projects your lifetime annual tax payments in 8 different tax categories. VeriPlan's fully integrated and automated lifetime annual tax calculator and retirement tax calculator capabilities automatically project your lifetime estimated taxes in these 8 tax categories:
Federal income taxes on earned [...])
- 2013-11: November 2013 What Works in Personal Finance Newsletter (
November 2013 Newsletter
You are a financial industry profit center
For the full article, either click the title above or paste this address into your browser:
Why allow the financial industry to help itself to your money? In case you did not notice, the financial services industry has not done the world any favors lately. The financial industry [...])
- Traditional Versus Roth IRA Decisions (Roth retirement investment strategies have a long payback period
When financial planners, investment advisers, and brokers advise their clients to convert their traditional IRA assets into Roth assets or to make annual Roth contributions rather than make alternative tax-deductible retirement account contributions, are asking for a huge leap of faith. Such proposals suggest that it would [...])
- Asset Allocation Calculator (Understand how your lifetime investment asset allocation strategy would affect the growth of your financial asset portfolio
Your tolerance for investment risk is a relative concept -- rather than an absolute concept. Your tolerance for investment risk is relative to the investment risk tolerance of all other investors. Few people like investment risk, but some can [...])
- Choose the broadest available whole market diversification (Choose the broadest available whole market diversification
Another risk reduction objective should be to achieve the broadest possible securities market diversification within your overall portfolio holdings. Whenever several low cost investment funds are available, I suggest choosing the fund with the broadest market coverage. This reflects a preference for owning the entire market. Such funds are [...])
- Monthly Budget Planner Worksheet (Monthly budget planner worksheet
VeriPlan is the best personal financial planning software for individuals and families who want to develop a comprehensive lifetime financial plan. VeriPlan also includes a monthly budget planner worksheet covering 24 months.
Expense tracking, expense budgeting, and budget variance spreadsheets
This monthly expense planner covers 24 months and allows you to define your [...])
- Retirement Planning Software (Automate your retirement savings and retirement planning projections
VeriPlan's comprehensive and integrated retirement planning software helps you to plan your retirement much more easily. VeriPlan's retirement planning calculator tools automate the lifetime financial planning process for your retirement income, retirement pensions, retirement annuities, Social Security payments, retirement expense budget, retirement taxes, and tax-advantaged retirement plans.
VeriPlan's integrated [...])
- Lifetime Income Projections (Understand your lifetime projected income from multiple sources after state and federal income taxes
VeriPlan's saving for retirement calculator software projects each of your income sources separately. Plus, it separately projects wage and salary and self-employment earnings for two different earners. With this sophisticated retirement savings calculator, you can control the growth for any income source [...])
- Sitemap (
- Retirement tax optimization strategy (Optimal asset "tax location" strategies and drawing down traditional tax-advantaged assets, while delaying Social Security retirement payments
Investment tax location and Social Security tax optimization strategies could improve your lifetime financial plan. To understand how VeriPlan manages the automatic: A) reinvestment of positive annual cash flows from net earned income and other non-asset cash flows and [...])
- Investment Risk and Return (Lifetime trade-offs between investment portfolio risk and investment returns
When making personal finance and retirement planning decisions, individuals must confront the dilemma that, historically, more conservative portfolio investments have yielded substantially lower investment returns than the returns that riskier investments have delivered. With either lower or higher risk-adjusted market return strategies, you simply cannot have your [...])
- College Savings Calculator (College savings calculator software helps you to plan college savings and other education expenses for you and your children
VeriPlan's fully integrated and automated financial calculators and financial software tools help you to determine whether your current savings rate would lead to a sustainable financial plan across your lifetime.
In addition, the VeriPlan lifetime retirement planning calculator [...])
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