Are you unclear on where to put your money across all your accounts? Are you worried about having enough ‘safe’ money for expenses? But you still want to invest and grow your money for future needs?
FarPlanner can help you balance both ‘safe’ and ‘growth’ money needs at the same time, tailored to your specific plan!
Build a FarPlanner Plan, See Suggested Transfers
The first step is to build up your financial plan with FarPlanner. Next, FarPlanner forecasts your account balances and net worth into the future. You can then see FarPlanner’s suggested account transfers to make now to achieve both safety and growth:
The more information you add to your plan, the more realistic these suggested account transfers become. You can then review these suggested transfers with your financial planning partner before making actual transfers.
Tell FarPlanner How To Allocate Into Your Accounts
You can add account ‘tracker’ widgets to your FarPlanner plan to forecast balances into the future. You can add an account tracker for each of your actual accounts. These account trackers are added to ‘allocation groups’. You can add taxable, college, 401k and Roth allocation groups to your plan.
You control how FarPlanner allocates money between accounts within each allocation group. For example, here’s recommended selections for one allocation group:
FarPlanner uses your allocation selections to mimic account transfers when forecasting your plan. If FarPlanner sees your plan need funds sooner than 6 months out, it mimics transferring into your ‘Cash’ account. FarPlanner manages risk throughout your plan by not pulling funds needed now directly from bonds or stocks.
For funds needed more than 25 years into the future, it mimics transfers into the ‘Stocks’ account. Intermediate needs in between have their own allocation settings as shown above.
This is how FarPlanner suggests moving just enough funds to safe accounts for your plan’s immediate needs. And shifting funds to riskier higher growth accounts just for long range needs (with time to recover from market swings). Hence you can be both a conservative and aggressive investor at the same time!
FarPlanner suggests these fund transfers throughout your plan, providing an allocation plan tailor-fit to your financial plans.
Download and quickly build your FarPlanner plan for free today, one tracker at a time.