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
- Tax-Advantaged Retirement Investment Planning (Tax-advantaged retirement savings plans
You may have the opportunity to make investments into both individual retirement accounts (IRA) and into employer or self-employed tax-advantaged retirement plans, such as a 401k, 403b, 457, Keogh, Simple, or other employer sponsored retirement plan. In general, if your net wage and salary earnings after living expenses will provide enough free [...])
- 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 [...])
- Sitemap (
- Lifetime Tax Planning Software (Automatically project your lifetime federal, state, and local income taxes, capital gains taxes, property taxes, and other taxes
VeriPlan's tax calculator software automatically projects your real dollar tax obligations using current tax rates and tax limits that would apply in your particular situation. For example, regarding your income taxes and income tax rates, the VeriPlan tax [...])
- VeriPlan Overview 6: Ten Automated Lifetime and Retirement Calculator Tools (VeriPlan Overview: Part 6 of 7
VeriPlan's 10 financial planning tools and retirement planning calculators
Retirement Planning Calculator Tool:
With this retirement planning tool, you can set individual retirement ages for Earners 1 and 2. You can select whether or not to retire simultaneously. You can also adjust your expected ordinary living expense budget in retirement and the [...])
- 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 7: Satisfaction Guarantee, Documentation, and Household License (VeriPlan Overview: Part 7 of 7
VeriPlan financial software satisfaction guarantee, licensing, documentation, and system platform information
All of VeriPlan's worksheets provide extensive and readily available documentation. A separate manual about VeriPlan's personal financial management software and investment growth calculator features is not necessary, because all necessary instructions are in the software where you need them. Nevertheless, the [...])
- 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 [...])
- Financial Planning and Identity Theft Prevention (Financial Planning Security and Identity Theft Prevention
You should take the potential for financial identity theft very seriously, as a threat to your financial security. Identity theft can sometimes entail loss of your financial assets, whether small or large. However, very often it requires taking a very large amount of your time to rectify an identity [...])
- Too few low cost mutual funds and ETFs (Too few low cost mutual funds and ETFs – Far too many high cost funds
In screening and selecting low cost mutual funds and ETFs, you should understand this involves sorting and screening thousands of mutual funds and ETFs using databases from data vendors such as Morningstar and/or Lipper. It is shameful just how few low cost [...])
- 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 [...])
- 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 [...])
- Deciding when to begin initial Social Security retirement payments (Deciding when to begin initial Social Security retirement payments
In general, whether to accept Social Security payments early, at full retirement age, or later is a decision you will need to make as you approach retirement. This decision can depend upon many factors, including but not limited to your expected cash flow requirements, your health and [...])
- 2013-10: October 2013 What Works in Personal Finance Newsletter (
October 2013 Newsletter
Identity Theft Protection and Prevention
This is the web address of this article:
As a threat to your financial security, you should take the potential for identity theft very seriously. Identity theft sometimes entails a loss of your money. However, whether or not you lose money, identity theft usually takes a very large amount of [...])
- 2014-02: February 2014 What Works in Personal Finance Newsletter (
February 2014 Newsletter
Diversification and the credit crisis
For the full article, either click the title above or paste this address into your browser:
The best personal investment and financial planning practices are durable and should not change because of market cycles and financial crises. Nothing that has happened in the credit crisis changes the value of broad [...])
- Projecting the size of your future estate (VeriPlan's investment growth calculator helps you to project the size of your estate in future years
Your investment portfolio and other property assets are simply your evolving estate. These valuable assets could become your estate at any time. As you proceed through life and become more successful financially, you need to monitor the size and trajectory of [...])
- Personal financial planning best practices (VeriPlan helps you to learn about scientifically valid personal financial planning and investment portfolio management practices
Personal finance and investing can be baffling. You can try to learn what works and what does not work from the media or from the financial services industry, but this effort is largely futile. The media reports the financial news [...])
- 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 [...])
- 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 [...])
- About (
About the author
Lawrence J. Russell is the author of this website and the books offered through this website. He is also the architect and developer of the VeriPlan software discussed on this website. He holds a BS from M.I.T. (1975), MA from Brandeis University (1979), and MBA from Stanford University (1982). Larry is a former [...])
« Annual Tax Calculator | PERSONAL FINANCE SOFTWARE | VeriPlan Overview 2: Organization and Graphics »