Financial Planning Process | We utilize RightCapital® financial planning software to help our clients better and more systematically plan for their financial planning process, future and retirement. Using RightCapital® allows us to more deeply explore and quantify if your expectations and goals for your future are reasonable, with the objective of helping you to either achieve, or maintain, your financial independence.
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Financial Planning Process | RightCapital®
While RightCapital® is a very robust and sophisticated piece of financial and retirement planning software, the real value of the tool is the simplicity of its output. We have found most of our clients want a customized financial and retirement plan that provides logical and easy-to-understand results – RightCapital® delivers both.
What is RightCapital®?
RightCapital® is a financial planning program which allows Towerpoint Wealth to work collaboratively with you to create a customized retirement probability analysis plan to serve as a roadmap for your future.
Unlike tools of the past that only delivered static, paper-based outputs, RightCapital® allows inputs to be altered in real-time, creating multiple scenarios for us to review with you. RightCapital® also allows us to connect numbers to your true intentions and needs.
We believe that RightCapital® is the only cash flow-based planning system sophisticated enough to help us construct customized, high-quality financial and retirement plans for Towerpoint Wealth clients.
How Does RightCapital® Work?
From an analytic perspective, RightCapital® runs a variety of tests, known as Monte Carlo simulations. Monte Carlo simulations furnish us with a range of possible future outcomes and associate a tangible probability for any potential choice of action. These Monte Carlo simulations show extreme possibilities – the outcomes associated with “going for broke,” and also for extremely conservative decisions, along with all possible consequences for “middle-of-the-road” decisions.
Ultimately, this allows us to collaboratively explore and analyze best and worst-case scenarios, based on your 1.) before and 2.) after-retirement spending needs, and possible capital market outcomes, to ensure you are in the best possible position to succeed in retirement.
At the conclusion of the planning exercise, you will have a more complete and comprehensive understanding of your financial picture and ability to retire or stay retired, and will be able to identify the decisions and behaviors that will lead to the highest probability for your desired outcomes.
RightCapital® is interactive.
Adjustments can easily be made during a review meeting, and Towerpoint Wealth clients can be directly involved in the creation of their plan.
RightCapital® is web-based.
RightCapital® is completely web-based, allowing you to access your plan from your home, office, or mobile device.
RightCapital® helps us to provide various “what if” scenarios.
These scenarios allow us to work with you to explore and analyze multiple future alternatives, and measure how sensitive a plan is to tax changes or increased longevity.
RightCapital® provides both stress testing and risk management.
This helps us see what might happen to a plan across a range of real world uncertainties (e.g., down markets, premature death, increased inflation, or the need for long-term care).
Not a Client? Still Want to Try RightCapital®?
If you would like a free trial of RightCapital®, please email Steve Pitchford, Director of Tax and Financial Planning, at spitchford@towerpointwealth.com.
Steve will create an online RightCapital® profile for you and will email you a link with a password to access it, allowing you the flexibility to embark on your path to achieving or maintaining your financial independence on your own time.
