Thanks for all the kind comments and encouragement about these pre-retirement planning tools. I agree that there is a need for modest cost planning support tools. The comments that in the years ahead these tools are likely to have a robo advice version is also valid. In this second calculator, I also show you how you can generate MSWord documents to automate the SoA production.
Clients have pre-retirement essential and lifestyle spending needs and aspirations. The pattern of funds that can be invested to supplement Superannuation Guarantee contributions does not follow a neat consistent pattern. It can be very encouraging for clients to realise that at some point in time big ticket items like mortgages and school fees come to an end and investible funds increase.
This calculator has a workbook of three different sheets. The first is a Dashboard to summarise the results in both graphical and table format. The Income sheet projects and works out net of tax family income. Allowance for bracket creep adjustments can be made. The third sheet is outlays. For input efficiency both regular and irregular expenditure items have been provided.
This aspect of pre-retirement financial planning empowers clients to achieve good outcomes and manage the trade-offs that are part of life.
The wealth accumulator and debt management calculator will be loaded next week. I would welcome contact with any firm that wants to consolidate the three steps and customize the output to their SoA format. This can be constructed in a bespoke manner to individual preferences.