Goals-Only Financial Planner (GOFP)
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Goals-Only Financial Planner Features
• There's two programs: For extreme simplicity, the Single GOP just has one goal, which can be used as both a payment calculator and/or a present value calculator. The SGOP does not integrate with other modules, like the main GOFP does.
The main Goals-Only Financial Planner allows you to work with up to twenty financial goals at once, and integrates with all of the other modules. When you get this bundle, it's called, The MoneyGuidePro Exterminator!
• The usual transparency of Excel, so you can see where every number comes from, you can perform all and any What-if scenario analysis function you can think of using Excels' built-in Goal Seeker, and you can customize reports any way you want to. Yes, this means that it will perform ALL what-ifs and scenario analysis functions that MoneyGuidePro (MGP), and ALL other goals-whatever vendors can perform, plus so many more that there's too many to list.
• Not cloud-based, so no more vulnerability to hackers, spies, phishers, and the government getting your clients' personal financial information, being exposed to their servers being down and other similar failures, and no loooooong internet cloud server delays every time you do anything - like change input data.
• Quicker, simpler, more logical, and easier to use (than MGP). Most all inputs are slider-based, so if you like doing this work on your phone, tablet, or mobile device, there's minimal "typing and clicking."
MGP / MoneyTree input is not logical, because it's a hodgepodge of fakeness. So if you could never figure out what they hey is going on with MGP or MoneyTree or Advicent's goals-whatever planners, it's not you; the whole thing is just a goalware kludge to help BD Reps peddle life insurance company products, so it's just sales tool that doesn't need to make any sense to anyone.
The GOFP allows you to restore sanity to goals-only sales presentations, with much more realistic numbers - that can be easily explained and presented without lying, obfuscating, or using hyperbole. This helps you make sales of life insurance company and/or all commission-based products, for 1% of the price tag of MGP.
For DIY investors and consumers, now you can buy goals-based planners for a reasonable price, and get valid numbers that are logical and make sense, for your own future financial goals planning.
• Calculating a financial goal is just a four- to six-input simple TVM (time value of money) calculation. So you can use the GOFP to perform an audit check on other goals-whatever programs to see for yourself how far out into BizarroWorld their numbers are from.
This is something you can do right now by using either of the free downloadable demos. Just input the same numbers as the demo into whatever goals planner you have, and you can see the difference between reality and BizarroWorld in a few minutes.
Once you know the few to several TVM inputs, it just takes a minute to get the correct number(s) with the GOFP. This is because the GOFP has complete transparency (where you can see how every number is calculated). So it will win every argument about who's number is correct. Performing an audit on MoneyGuidePro is not possible, because there's no way to tell how most numbers are calculated (FYI - even their programmers, who live in BizarroWorld, can't explain their numbers when you call on the phone for support). So once you get a fake MGP result, input the same data into the GOFP, and you'll usually see a significantly different number. Then perform an audit of the GOFP to ensure it's calculating everything correctly. Then it will be obvious why we keep saying that other goal-whatever software vendors' numbers are "fake from BizarroWorld."
So the big question is why do you keep paying 100 times more for something that just doesn't perform its primary functions? We know that's a rhetorical question - you are not allowed to use anything but MGP because your captive overlords won't allow it.
• Just click a button, and the Goal Seek solutions and the Monte Carlo simulator runs. So no more having to fumble around with MGP's "SuperSolver" and/or What If kludge functions anymore. All of the numbers that matter, and you want to see, display automatically in a few seconds with no confusing inputs and/or browser page changes (and their corresponding cloud server delays).
• Realistic Monte Carlo simulator (considering it's all fake anyway).
• More accurate and realistic numbers (much less fake than any other goalware vendor).
• Ability to print everything with a few clicks (after being able to customize and control everything to do with what presentation pages look like, both on the screen and printed - which you cannot do with any cloud-based system without spending hours exporting to Excel or Word first).
• Perform most all of the functions of most all goalware, but without the semi-fake portfolio optimizer.
• Uses the Social Security analysis calculators on the TVM Tools program, to perform an actual analysis for a change.
• MGP and other cloud-based vendors' "Client Portals" are now irrelevant, because an adviser can just e-mail the spreadsheet to the client to tinker with for free (or put it online so they can download it). Yes, you have our permission to do all of that you want to - whatever it takes to get er done!
• When it's time to leave fake BizarroWorld and move into reality, it integrates with, and uses the existing modules on this site. Bottom line, the GOFP is the one and only goals-oriented planner that has valid numbers for everything that can be used to forecast life as a human here on Earth in the 21st century. All other goals-whatever planners' numbers are straight from BizarroWorld. Now you can compare and decide for yourself.
• Each goal has inputs specifically for integrating downloaded financial account data from most all custodians. So with just a few minutes of easy work once, you can get fresh investment values online from the custodian, and have all goals updated to reflect the current lump sum values in seconds. FYI: This is essentially the same thing you're spending the big money for with Money Guide Pro, but it takes a couple of minutes marrying each goal to it's download one time.
• Price will be 1% of whatever MoneyGuidePro is currently charging, so $12.50 a year.
• Ability to buy the Lifetime Subscription. The huge value there, is that you'll get all future updates for free, and if you wait, every few months there's a sale.
• We're not a huge corporation, so if you suggest something and/or find a bug, we can probably implement your suggestion and/or fix the bug within a week. Not only that, we'll reward you with free financial plan software. Make a suggestion to MGP and see what happens and/or see how many years it takes to get fixed.
How This Goalware Works
First, there's two parts to the main calculation engine: 1) Goals that have more than one annual payment, like retirement or college planning. There's ten of these. 2) Goals that just have a single future value, like buying something in the future. There's ten of these too, for a total of the GOFP being able to work with twenty goals in pre-retirement goalware mode.
One only has so much money to allot toward their goals in both lump sum and monthly payments. So you start by inputting these maximum amounts. Then you divvy this up between the goals. Then you input goal data. Then each goals' presentation tells you if you can reach it or not.
That's all there is to MGP - just fancy ways to display two kinds of numbers that you could have determined in a few seconds using any financial calculator. The rest is just how this information is organized, fake stress-tested, and then displayed. This is the hard part, and like the old saying goes, "The last 10% is 90% of the work!" Over the next few years, the way it will organize and display results will be far superior to any other goals-whatever vendor, regardless of the cost.
Now about the Monte Carlo simulator: In addition to what other vendors do, which is just iterating the rate of return, three sets of inflation (2%, 4%, and 6%) and two sets of worst-case Federal tax ranges are also used in order to not have the end result be from BizarroWorld.
Always keep in mind that using marginal tax rates in these situations is fake and bogus too. All that is just to make it look like one needs to invest more than they actually need to, in order to sell more life insurance company products. Only average tax rates, AKA effective tax rates, are valid.
So that's reason #976 why MGP is fake goalware. Someone would have to be realizing portfolio income of over $500,000 a year to be taxed at an average tax rate of 25% on investment income (including CA state taxes too). That's why hedge fund managers pay half the tax rate as their assistants - because their income is not "earned income" like employees. It's a combination of capital gains, dividends, and interest - all of which are taxed at rates about one half that as earned W-2 or 1099 income. It's programmed like that because taxes may be going way up in the future. That's what valid stress-testing is all about - accounting for future worst-case scenarios.
41 rates of return are used for a total of 252 iterations. MGP only uses 20 (they say they use 1,000, but their fine print says 20 - just like they used to say they used 10,000, but it really was only 75 until users read their very fine hidden print and whined). Yes, most everything about MGP is semi-bogus once you put on your thinking cap, find, read, and understand their "fine print," and get to the bottom of it.
All of this is to make it work using realistic numbers that simulate a diversified investment portfolio that a normal rational informed sane investor would hold long-term. The bottom line is that's how to program a Monte Carlo simulator to correctly perform a stress-test on a Real World investment portfolio. All this stuff MGP uses is so far out into fantasyland, that it's a total joke (and should be banned by the government).
Another bottom line comparing fake to real, is how long it takes to run the simulation. It takes 10 minutes with real financial planning software to iterate 252 times with a new fast computer. It takes the SGOP about five seconds, and the GOFP about two minutes to iterate 252 each on all 20 goals.
That's because there's little-to-no actual calculations going on with the SGOP or GOFP - which is why MGP's only takes a few seconds too; because it's fake and there's little-to-no actual calculations going on whatsoever. One is not stress-testing a financial plan, an investment plan, nor a Real World investment portfolio with the SGOP, GOFP, or MoneyGuide Pro.
With goals-only planners, one is just stress-testing at the most 20 simple Time Value of Money calculations, using at most 14 data inputs each, with little-to-no links to other modules. The IFP has hundreds of data inputs with tens of thousands of links to the other modules.
So the IFP (and our retirement software and college planners) are performing valid work of value, and MGP and the GOFP are not. Not even close enough to be in the same solar system. That's another way to look at the difference between real financial planning software, and goalware: If the Monte Carlo simulator takes under five minutes to run, then it's just not possible for it to be performing anything of any actual value - other than providing a quick fake number for sales presentation purposes.
The whole Monte Carlo thing has been morphed into a sales tool by goalware vendors to the point that Finra and the DoL should blanket ban it in all financial software used by BD Reps. It's just as simple as that. More about how the GOFP's Monte Carlo simulator works is at the bottom of the directions. End of the Monte Carlo rant.
Goals-oriented planners have little-to-no value to investors after their long term goals, e.g., retirement or college planning, have been met.
After retirement, MGP stops being in goal-focused fantasyland goalware mode, and then goes into a mode similar to the way our real retirement software works.
So other than their numbers being inaccurate everywhere, most goalware isn't blatantly fake after retirement begins.
The problem is that it's a calculation engine train wreck when pre-retirement goalware mode tries to be reconciled with actual non-fake retirement mode. MGP (and MoneyTree) fails miserably at this, and all of their numbers having anything to do with retirement planning are so inaccurate that it needs to be blanket banned.
The point here is that when retirement begins, then our simple Real World Retirement planners provide much more value, for only $100 to $250. In addition to the most accurate numbers in the industry, there's a long list of reasons, features, and functionality that makes MGP's after-retirement programming look like a total joke, compared to our RWRs - unless you're just using it to make a quick and easy commission-based product sale to an uninformed investor / consumer.
So after retirement begins, then just get Dual RWR, to get the best there is in this mode.
The same "modes" apply to the investment module(s). When working with these modules (either designing a custom portfolio, or using pre-existing models), you're not in the goalware world anymore either. Goalware only applies to generic financial planning before retirement.
Here the MGP Exterminator works similar to MGP: If the current portfolio is all cash, then the GOFP automatically selects one of our existing Model Portfolios. If not, then just use the Comprehensive Asset Allocation Software.
Again, and as usual, the list of limitations, fakeness, failures, and lameness with MGP's investment modules is just as long as the list of cool features in our investment software. It's a totally different world comparing what you can model with ours, compared to all other goals-whatever vendors.
The bottom line here is that MoneyGuidePro excels greatly in pre-retirement goalware, integration with other vendors, and slick phablet presentations. But once you're out of that module and mode, their "financial planning software" is not competitive, especially compared to ours. It just doesn't perform many functions of value, and costs several times as much as ours, which performs most all functions users want (other than the integration with other vendors, which most of the time, you can do yourself in a few minutes).
So the main Goals-Only engine is only $12.50. This will (eventually) get you the same thing as MGP, when in it's in the pre-retirement goalware mode.
Then after that, when you're in non-goalware retirement mode, you have to input so much data, that it makes no sense to use MoneyGuidePro. With less input (that makes little-to-no sense, as explained here) and fussing around, you could have more accurate numbers in a real retirement plan using Dual RWR.
If you want to create a snapshot of a balance sheet (or project net worth into the future), then using our Net Worth Calculator will also do that (give you more accurate numbers, quicker and easier, with less confusing input fuss than MGP).
If you want to create an asset allocation mix, then ditto there too.
If you want to use pre-existing Model Portfolios, then ours are vastly superior to anything MGP could ever come close to creating.
If you want to calculate accurate life insurance needs, then ditto there too, as the MGP Exterminator will allow you to automatically calculate true life insurance needs with minimal input and maximum understandability.
Then it will use the Social Security analysis sheet from the TVM Calculators to crunch those number correctly for a change.
So there's a bundle called The MoneyGuidePro Exterminator, that gives you all of the above modules for only $500. Note that just the Model Portfolios cost that much by themselves. That's how much we want you to abandon BizarroWorld, and get with reality!
Prices may change greatly upward after it has matured.
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