Planinning Functions

PLANINNG FUNCTIONS

Overview

PlanMode is a comprehensive financial planning app for individuals with a lifetime planning span. You can use it in a variety of ways that suit your needs for planning or analysis. It could be used to prepare a comprehensive financial profile for your lifetime encompassing the retirement scenario and including the analysis in case of disability or death, or a quick and simple analysis over a shorter period of time with just a few pieces of information.

PlanMode continuously adjusts to the data you tap in and does not require you to enter data that may not be necessary for your planning and analysis.

Here is a short list of the functionality available in PlanMode-
·         Financial profile for both spouse’s lives
·         Planning span of up to 100 years
·         Retirement profile and analysis
·         Disability profile and analysis
·         Survivor’s profile and analysis
·         Automatic cash management
·         Detailed annual cash flow analysis
·         Customizable financial statements
·         Graphs & charts for quick overview
·         Scenario comparing what-if analysis
·         Export info to ExecPlan & Excel
·         Definable national, state & local taxes
·         Built-in US income taxes as of 2013
·         Completely menu driven operation
 ·         Completely contained in your device

PlanMode concept
PlanMode is a projected reality based software. It can help you determine your future needs before you analyze your options and alternative courses of actions.

This app can address your planning needs requiring simple analysis such as the bottom line difference between buying a car vs leasing it  to more complex items requiring the determination of the extent of your needs for life insurance for your family or comparison of your retirement plan options and more.

PlanMode gives a touch of reality to the future projections by deploying a cash management feature. Once activated the automated cash management monitors your cashflow based on your defined needs for how much of idle cash is needed at all times. If years your income exceeds the expenses it reinvests a calculated amount based on your parameters so that you are left with close to your cash limits after taxes. Similarly, in the years your expenses exceed income, it starts to draw down on the invested cash to keep your balances as per your data entry.
 
Another helpful feature is the automated comparison feature. This feature can provide you with the bottom line impact of one or more financial transactions on any of your financial scenarios. The comparison showing a net gain or loss is produced after automatically rerunning the scenario for its income, cashflow and tax implications over the entire planniing span.

Income tax computations
US individual income tax computations are built-in and applied as applicable.

Non US individuals can turn this function off and instead activate a generalized version that allows you to define how your income tax should be computed on a national and local tax levels. The latter function is also available for US individuals for defining for items to be used in approximating State and City income taxes. You can also deploy tax brackets for any of these taxes if needed.

Reports
You can generate a full complement of financial statements for each of the four scenarios covered by this app including-
·         Normal financial projections
·         Profile of retirement life
·         Disability profile for either spouse
·         Death profile for either spouse

Among the reports available for each of these profile are-
·         Income Statement
·         Balance Sheet (Net Worth Statement)
·         Cashflow Statement
·         Supporting Schedule

These reports can describe in details each year of the planning horizon. A set of such reports is available for only the current year as well. In addition, a summarized analysis is also available for each of the alternative scenarios.

A helpful input data listing is also available providing a quick review of items entered.

All reports are professionally formatted and can be customized further.

A one-touch email option is also available to send a PDF version of each report to the designated email address.