Financial Management: Tools to Do It Yourself

Wise investors are concerned about the long-term health of the economy and the ‘time bomb’ of the ageing population, and they want to maximise the earning capacity of their money. Trulity, a provider of online DIY financial planning services, believes that the government will at some stage be overwhelmed by the burden of supporting greater numbers of retirees with a smaller number of working people.

Financial misery later in life can be avoided with proper financial planning. However, many people are frightened by the cost of a full service financial planner, who financial planning software can charge you between $2,000 and $3,000 for a financial plan and then 1-2% of the value of your investment per you as an ongoing fee. These costs occur whether or not your investments return a profit in a given year.

Over the course of your working life, this equates to a very significant expense, and many people feel they can do better. However, ‘doing better’ should never equate to doing without an investment plan.

DIY with Professional Tools

Trulit y , developed by financial professionals, is Australia’s first (and so far, only) financial planning software developed specifically for ‘moms and dads. It gives you access to tools which normally only professionals would use, and mimics the services of a financial planner.

Thankfully, it doesn’t mimic the cost; rather, a single monthly fee provides you all the tools you need to manage your investments prudently.

Trulity’s Online DIY Service

Trulity’s service has a number of critical components, all of which combine to put you in charge of your investment strategy. Financial planning software helps you calculate your current financial position, and project your savings capacity. Without this, you can only guess at how you can develop an investment plan. This is the data a financial planner will request when you engage him.

The Trulity software allows you to determine how much risk you want to take and guides you to select an appropriate portfolio. Then it enables you to project your wealth growth, cash flow and taxation projections for up to 30 years. You can test strategies, anticipate various market conditions, and understand how all this will affect the outcome. This helps you to select a strategy with as complete an understanding as is possible when you’re dealing with the future.

Your ‘front end’ is a Desktop Advisor, which contains a vast library of reference information. Coupled with this is a resource centre, which is a ‘one stop shop’ for financial and investing information. Financial calculators, recommendations for stocks, managed funds, superannuation funds, and many more, make up the Trulity suite. For more detailed information on Trulity’s online investment planning, go to our website.

If you want the comfort and reassurance of having an adviser on call, Trulity offers this service on a time charge basis. Time allocations are a minimum of 10 minutes so Trulity advises compiling a list of questions before calling to ensure you receive value for money.

http://www.trulity.com.au