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
- 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 [...])
- Lifetime Investment Fees (Use a long term investment calculator to understand the lifetime costs of excessive investment fees
High mutual fund fees and other excessive investment fees are huge problems for the average individual investor. These excessive investment fees are the major factor that undermines the financial welfare of millions of Americans. The potential value of your investment portfolio [...])
- 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 [...])
- 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, [...])
- Career Education Financial Planning (Using VeriPlan as a Mid-Career Education Financial Planning Tool
VeriPlan can easily be used to analyze whether it is worth returning to school to improve one's earnings capacity. The following example explains the steps to take to analyze the value of obtaining additional education to further one's career by using VeriPlan as and education financial planning [...])
- Are ETF expenses really lower than mutual funds? (Are ETF management expenses really lower than mutual fund management expenses?
Yes and no. When you look at the full range of ETF management expense ratios, you find the most ETFs have a management expense ratio under 1% per year. In contrast, the average expense ratio for mutual funds exceeds 1%, so obviously the majority mutual [...])
- 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 [...])
- Roth IRA Conversion Calculator (Best Roth Conversion Calculator
This is the first part of a three-part article on Roth retirement account contributions, Roth IRA contribution calculators, and traditional IRA to Roth IRA conversion calculators and strategies.
Part 2) Evaluating Roth IRA Conversions --->
Part 3) Roth IRA Calculators --->
The Roth IRA Conversion Media Storm
The Roth IRA conversion and designated Roth 401k conversion [...])
- Contact Form (
If you have a question or comment, we would like to hear from you. Please use the form below to get in touch with us. Thank you!
[contact-form-7 id="4" title="Contact form 1"]
- VeriPlan Overview 2: Organization and Graphics (VeriPlan Overview: Part 2 of 7
A well-organized lifetime financial planning application with extensive color graphics
The VeriPlan personal finance software provides thirty-four user accessible worksheets organized into groups that have the same colored tabs. VeriPlan provides extensive internal and external hyper-linking to help you to get around quickly. VeriPlan’s primary worksheet groupings and the number of [...])
- 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 [...])
- 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 [...])
- Measure Your Investment Portfolio Diversification (Gauge the level of your portfolio’s overall diversification with this free on-line tool
Whenever you invest in multiple mutual funds and ETFs, you may wonder how broadly and appropriately diversified your aggregate portfolio might be. Have your investment holdings and mutual funds that you have chosen increased the global diversification of your personal financial asset portfolio? [...])
- Where to buy investment funds (Where to purchase mutual funds and ETFs
Whenever possible, low cost no load mutual funds should be purchased directly from mutual fund families that deal with the public. Otherwise they should be acquired through some other low cost channel such as a discount brokerage account. It only makes sense to purchase funds through the most inexpensive [...])
- Evaluating Roth IRA Conversions (Evaluating Roth IRA Conversions
This is the second part of a three-part article on Roth conversions, including information about Roth IRA conversion calculators and Roth IRA investment calculators. This article could help you to make a more informed decision about your family's Roth investment strategy. Key to you making a better decision about your lifetime Roth [...])
- 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 [...])
- The Value of Future versus Current Consumption (These are some thoughts that I provided to a client couple struggling to live within their means, while also saving and investing for their future:
The most important long-term topic we discussed was how you as a couple can find a way to balance current consumption, which presently exceeds your dual incomes, against the need to [...])
- Municipal Bonds and Marginal Income Tax Rates (Municipal Bond Investments and Marginal Income Tax Rates
Some investors hold municipal bonds in an attempt to reduce their tax burden. This article discusses the relationships between tax-exempt municipal bonds, marginal tax rates, and investment asset tax location.
An investor’s marginal tax rate is important, when making tax-related investment portfolio decisions. By combining your federal, state, and [...])
- What should your lifetime IRA, 401k, and Roth contribution strategies be? (VeriPlan helps you to decide what your lifetime IRA, 401k, Roth IRA, and Roth 401k contribution strategy should be
With IRA, 401k, and other tax-advantaged retirement investment portfolio accounts, you trade off the relative value of paying federal income taxes, state income taxes, and local income taxes now versus paying them either later or never. The [...])
- 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 [...])
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