Lifemodel provides an environment in which you can model your financial affairs now, and forward for up to 75 years. It is built around a base set of data which are assembled into a familiar Balance Sheet / Profit & Loss format. Within each category, you can add as much detail as you wish in order to get an accurate model. Each item of data such as the interest rate on a savings account is represented by not just an entry (One item) but a profile of up to 75 items describing its value over time. As you scrub the slider you can see the values update in real time and so identify how your savings will build, whether your income is likely to keep pace with your other costs, and what you can do now to effect any necessary changes.
The central panel is the main information centre. Moving the slider at the bottom of the screen progresses through the model (up to 75 years hence) and the panel values update in real time.
If you tap the Net Worth graph on the main panel, you are taken to this graph. You can tap in the top (Key) section to choose which variables you want shown.
As you drag your finger in the graph area, the current year will be shown in red. If you are near a data line, its value in that year will also be shown.
Shown on the left is the entry / editing screen for flexible assets.
Yields can be entered as constant values, profiles of values across the years, or as the value of any of the environment profiles (Described below) plus or minus a profiled value.
Similarly a profile can be entered for the proportion of yields to be reinvested or taken as income (Maybe rising over time or at retirement.
Capital growth can be specified separately for items such as stocks.
In the example above the investment in Giganticorp is expected to yield dividends 2% above the stock market overall and this yield will all be reinvested in Giganticorp stock. In addition the value of Giganticorp stock is expected to outperform the market index by 1.6%.
In addition to the profiles of values over time attached to all the major elements of the fixed assets, Lifeplan has seven Environmental profile types you can establish to set external scenarios to test your plan. Each profile type has three profiles for High, Medium and Low expectations. The expectation is that you will set what you expect to happen in the Medium profiles, then you see how your model stands up against them. Once you have a satisfactory outcome, you can re-test against more optimistic or pessimistic views of the environments. In the example above, data linked to the stock market index will use whichever profile is selected here (In this case currently medium).
For all profiles, whether they relate to the environment or internal variables, there is an editor. The editor allows you to preset the data to level values, cyclical values, a rising value, or a falling one. Having run the preset, you can then edit each or any data point to fine tune your profile