The final part of the process is forecasting. One of the most important aspect of financial planning is retirement, and part of planning for retirement is calculating how much you'll need to retire.
This is usually done by working out your estimated living expenses, and working backwards to figure out how large a pot you'll need to provide this income in perpetuity. From there, you can see how much you'll need to invest from today to reach that goal.
One of the most important features of the dashboard is the portfolio allocation display. This gives users the opportunity to observe their asset allocation: firstly to see the split between cash & short term deposits, traditional investment and alternatives, but then on a more granular level how these are broken down.
Of course, there are limits to what we can tell you - we're not in the business of dishing out financial advice, but that's ok because each person's asset allocation should be unique to their idiosyncratic needs.
After setting a target, you'll be able to track progress towards it and rebalance as necessary. This is vital - it's the action step, so we can't do it for you! But we can guide you every step of the way.
Your asset allocation will change over time with your capacity for risk, with more or less responsibilities and less and less time until your target retirement date. You can also track allocation across asset type, industry and sector.
In order to plan for different scenarios, you need to know how much money you might have for the rest of your life. You can then stress test this and add key Life Events, so that we can be with you for every decision you make.
