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  • Writer's pictureKenneth Cochrane

Some thoughts while talking to advisors about financial planning software shortcomings...

How reliable is financial planning software?


Many advisors report they are unable to enter enough information to make reliable projections:

  • Can you set both optimistic and pessimistic assumptions for: 1) All sources of income growth, 2) Rates of returns and appreciation of all investments (as well as real estate), and 3) For all inflation and COLA measures?

  • Can you create more detailed expense projections?

  • Can you get personalized estimates for future medical costs?


Can you stress test your plans? Can you switch between optimistic and pessimistic assumptions and assess how your score and other charts change. Can you also review Monte Carlo projections?


Does your software help to Reduce Your Lifetime Tax Expenditure?


Can you model Future Changes to Real Estate Holdings? Will your client downsize? Sell property? Buy a lake house? Changes to real estate holdings can have a large impact on finances.


Some food for thought as financial advising software continues to evolve.....

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