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When you use the DIY tools on MyFinPlan, it does involve you providing very personal information. NONE of the information you input is stored, so you can go ahead and use the tools with confidence.
It is a disturbing fact that less than 6% of our population are able to retire financially independent. There are many reasons for this, but people tend only to address this question when it's too late, and retirement is literally around the corner.
Generally speaking, the retirement planning tools available on the internet tend to be fairly simple. On the other end of the spectrum there are tools out there which have been designed more for use by financial advisors, and these tend to be fairly complex.
The MyFinPlan retirement tool provides a simple yet far more comprehensive outcome than the simple tools generally available, but is not as complex as the "top of the range" solutions. It provides you with the ability to prepare and monitor your own personal retirement plan. We recommend revisiting your plan on a regular basis, to ensure that you achieve your retirement goals.
* Please refer to the tutorial video if you would like to see a demonstration or if you need assistance.
One of the fundamentals of financial planning is determining whether or not, in the event of your premature death, there will be enough money to ensure that your family will be adequately provided for. This would include ensuring that your debts are settled, your home is fully paid for, your children's education is provided for and the general standard of living is able to be maintained.
The Family Income planning tool will help you to identify any capital shortfall that you may have in providing for your family should you pass away.
* Please refer to the tutorial video if you would like to see a demonstration or if you need assistance.
If you are about to retire and planning on exploring the option of a Living Annuity or even just interested in learning more about living annuities, this tool will help you to understand how this sort of product will work. In the current investment environment it is exremely important for you to understand how these products work, and what effect invetment returns have on your income.
If you would like more information on Living Annuities that is not already found on MyFinPlan, you are more than welcome to contact us .
This calculator is based on the Living Annuity Calculator developed by Bruce Cruickshanks.