Debt Payoff Software
Decide whether accelerated mortgage debt and other accelerated loan repayments make sense for you
The VeriPlan personal finance software allows you to evaluate different loan payoff strategies across your lifetime financial plan. You can model higher monthly payments that accelerate the repayment of any particular loan or all loans. VeriPlan will automatically shift some of your positive net earned income cash flow toward accelerated debt repayment and away from additional cash, bond, and stock investment portfolio assets.
VeriPlan’s fully integrated mortgage calculator, loan calculator, and debt payoff functionality functionality can automatically project interest and principal payments on up to 25 of your currently outstanding loans.
The VeriPlan lifetime personal financial planner will continue to deduct interest and principal payments from your projected annual after tax cash flow for as long as any unpaid principal on these debts would remain. VeriPlan’s debt payoff software handles mortgages, lines of credit, bank loans, student loans, revolving credit arrangements, credit cards, or other types of loans.
Test the overall impact of accelerated debt repayments within the context of your full lifetime income, expense budget, assets, and taxes.
For example, VeriPlan automatically takes into account the tax deductibility of your property tax payments and your mortgage and real estate line of credit interest payments, when it projects your federal income taxes, state income taxes, local income taxes, and property taxes.
People usually consider the question of accelerating debt repayments, when they expect to have steady positive net income or cash flow to cover their debt repayments. The VeriPlan personal financial planner does not require this. VeriPlan can automatically project the financial impacts of minimum required loan repayments and/or accelerated debt elimination payments on a loan by loan basis over multi-year periods with fluctuating positive and negative annual cash flows.
Furthermore, if your projected cash flow in any projection year would not be sufficient to meet either your required or accelerated debt payoff strategy, then VeriPlan would draw down your projected cash, bond, and equity assets. As required, VeriPlan would automatically project the liquidation of your projected financial assets in proportion to your chosen investment portfolio asset allocation.
VeriPlan is the most comprehensive, integrated, and automated financial planner and debt payoff software application that is available for personal use. It can easily help you to make better, more optimal financial decisions that take into account your full lifetime financial plan.
VeriPlan’s “Debt Payments” graphic provides a full lifetime picture of your annual debt payment obligations.
VeriPlan Debt Payments graphic, which is developed automatically for every projection, projects your annual debt repayment obligations according to your settings on VeriPlan’s ‘Your Debts’ worksheet. On VeriPlan’s ‘Your Debts’ worksheet, you also classify your debts as consumption-oriented or investment-oriented. Consumption-oriented debts represent past consumption that you have financed. Investment-oriented debts are those you take on with a rational expectation that they will enhance your human capital and/or portfolio assets.
The sample graphic below shows a projection for “Sue and Sam Saver”. In this scenario, VeriPlan projects that Sue and Sam would pay off their debts by their mid-60s. However, since their cash, bond, and stock assets would be gone in their mid-90s, VeriPlan would automatically accrue an unfunded consumption debt thereafter. Even though their financial assets are gone, but their living expenses would continue. (They might have other assets, such as real estate property, that could help them to avoid this future debt.)
Personal Financial Planning Software for Individuals
- 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 [...])
- Concentrated holdings increase portfolio risk (Portfolio risk increases dramatically with concentrated holdings.
A significant portion of a portfolio may sometimes become concentrated in a single investment entity, which dramatically increases the overall risk of the portfolio. While generally undesirable, there sometimes are unavoidable reasons for investment concentration. Unavoidable reasons for lack of diversification can include owning a private business or being [...])
- 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 [...])
- 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 [...])
- 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 [...])
- 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 [...])
- Roth IRA Calculators (Roth IRA Calculators
Using VeriPlan to evaluate Roth retirement account contribution and conversion trade-offs
This is the third part of a three-part article on Roth conversions and Roth IRA contribution calculators. The first part discusses the Roth account investment and asset conversion decision and the need for a sophisticated lifetime financial planning software tool to enable informed [...])
- 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? [...])
- Improve Your Finances with My Books, Software & Newsletter (Many people are confused and frustrated, because they do not have the knowledge and tools that they need to plan their financial futures efficiently and optimally. Addressing these problems, these ebooks and financial planning software will help you to get moving along your own path toward better lifetime and retirement financial planning and investing.
“Buyers Guide [...])
- VeriPlan Overview 4: Your Investment Portfolio Projections (VeriPlan Retirement Investment Calculator Overview: Part 4 of 7
Your investment portfolio and assets in VeriPlan
For each of your current investment portfolio asset holdings, the VeriPlan investment calculator software collects information about your share ownership amounts, values per share, investment costs, account taxability, and expected taxable capital gains distributions. The VeriPlan financial investment calculator automatically projects [...])
- 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 [...])
- VeriPlan Overview 3: Your Income and Debt Projections (VeriPlan Overview: Part 3 of 7
Your income and debts in VeriPlan
The VeriPlan financial planning software with its wide variety of fully integrated financial calculators and investment calculators uses your inputs about your financial situation and investment portfolio to develop your current projection baseline. VeriPlan collects the following personal financial information:
Your Initial Ages:
VeriPlan is a lifetime projection [...])
- 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 [...])
- VeriPlan Overview 5: Federal, State, and Local Tax Projections (VeriPlan Tax Calculator Overview: Part 5 of 7
The VeriPlan retirement planning calculator automatically projects your lifetime U.S. federal, state, and local taxes
With its fully integrated lifetime retirement tax calculator and income tax estimator features, the VeriPlan personal finance software automatically projects your lifetime tax obligations in eight different tax categories. VeriPlan automatically projects your financial [...])
- 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 [...])
- 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 [...])
- 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 [...])
- 2014-01: January 2014 What Works in Personal Finance Newsletter (
- 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 [...])
- 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 [...])
« College Savings Calculator | PERSONAL FINANCE SOFTWARE | Home Buying Calculator »