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Managing home finances involves handling details. Sometimes people lose sight of the big picture. Simple Home Finances provides tools that help you evaluate your finances so you don't lose sight of your big picture!
In the same way a business must monitor operations and make adjustments. Households need to monitor their finances and make adjustments to keep their finances balanced too!
Simple Home Finance toolkits provide toolkits you can use to budget your money, plan your retirement and manage your debt. These toolkits populate the Evaluate Toolkit's reports and workbenches with the latest information. You can stay on top of your finances using this toolkit!
The Evaluate toolkit includes:
The Summary Report which provides:
- A summary report of your budget, loan and retirement finances
- Budget, Income and Actual cost comparisons and annual projections.
- Total Debt, monthly payment totals and your debt as a percent of your budget
- Projections of your mortgage equity, equity available to consolidate debt (maintaining 20% equity) and current loan to value percent.
- Retirement projections providing answers to common questions such as; Can I work longer? Am I eligible for a Reverse Mortgage? Are my retirement cost projections reasonable? Am I adjusting for a reasonable inflation rate? and can I live on less in retirement?
- Links to go to the Summary Report and back from these command centers; Budget Plan, Loan Workbench and Retirement Planning.
The Retirement Report provides a complete summary of your retirement financial picture including:
- Planning factors
- Personal Profile(s)
- Estimated and projected savings
- Retirement income projections including; costs, funding and projected earnings
- How long your money will last using just savings or your savings added to your retirement income.
- Retirement funding details show how much is required from savings accounts of each income earner for each year of retirement.
The Savings Workbench Projects your retirement savings based on:
- Using all or some of your current retirement savings
- A monthly savings amount you set
- The number of savings years remaining.
- Allocating your investments by percent against multiple investment types.
Maps your savings projections against savings goals you set for:
- Using only savings, Retirement Spending 1
- Using retirement income and savings, Retirement Spending 2
Allows you to:
- Manage your retirement investment account information, including Provider/Broker and Account information and their web address.
- Update Retirement Planning with updated investment or savings account totals.
- Model 4 different allocation models based on different risk profiles.
- Model various allocations of your investments based on a complete set of equity, bond and cash index returns for the last 3 and 5 years.
Future Evaluation tools include:
A Goal Workbench which will allow you to establish goals and project whether you will meet those goals. You can associate actual savings from your paychecks or budget as current monthly savings toward each of your goals.
If you want to master your money, Simple Home Finances Master Money toolkit is what you need!
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