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Cashflow modeling tools - Voyant, i4c etc

Discussions regarding financial software
bwel
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Cashflow modeling tools - Voyant, i4c etc

#386455

Postby bwel » February 13th, 2021, 4:49 pm

Hi all,

I have built a Cashflow Modelling Forcasing Excel sheet that I have been using for the past year, but i would like to go to the next level with something like Voyant or i4c.

These tools are mainly used by Wealth management Companies, but am just windering
- what others are using ?
- Does anybody know and recoomend any companies leferuing their Voyant or i4C main licience and then offering out (selliong access to) Voyant Client Access Liciences for a reasonable fee ?

Thx Bob

Degsy67
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Re: Cashflow modeling tools - Voyant, i4c etc

#387082

Postby Degsy67 » February 15th, 2021, 9:55 pm

Pete Matthew over at Meaningful Money is offering a one year access to Voyant Go as part of his Build Wealth Meaningful Academy course however the course costs around £500 GBP.

https://meaningfulacademy.com/bw-1/

As a potential alternate, perhaps take a look at EvolveMyRetirement as a no cost alternative with a lot of similar features to Voyant. It’s a bit of a dumbed down version but worth playing around with.

https://evolvemyretirement.com/

Tools like i4C and Voyant are targeted at IFAs and are priced as professional software on this basis. Very difficult to find something targeted at DIY investors or FIRE enthusiasts. That’s why a lot of us end up with our own complicated spreadsheets.

Better to ask yourself exactly what itch you are wanting to scratch when you say you want to ‘go to the next level’ with cashflow modelling. How far off financial independence / retirement are you? How complex are your finances? Are you looking for accuracy or confidence building? Software tools won’t necessarily give you more accuracy compared with a spreadsheet, they’ll give you prettier graphs. Cash flow modelling is all about the assumptions built into the models. The more sophisticated the software, the more assumptions that can be modelled. Don’t confuse complexity and sophistication for increased accuracy. If you’re looking for more confidence in your plans then you may actually need coaching and the right financial planner and financial planning process may be able to help with this. If you’re quite a way away from financial independence then you don’t need sophisticated tools to give you a high level estimate of your sources of income. You do however need a reasonably good track record around your spending so a budgeting tool may be more beneficial if you’re not using one already.

If the answer is Voyant or i4C then what are the questions your hand crafted spreadsheet isn’t answering?

A few years ago I also thought what I needed as a next step was Voyant. I’ve moved past that now.

Degsy
(No affiliations)

Degsy67
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Re: Cashflow modeling tools - Voyant, i4c etc

#387096

Postby Degsy67 » February 15th, 2021, 10:29 pm

Just to add...

Also worthwhile looking at RetireEasy.

https://www.retireeasy.co.uk/why/takethetour

Although it looks like it’s only a deterministic modelling tool and therefore quite simple. Doesn’t provide stochastic modelling therefore no good to look at sequence of return risks.

Degsy

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Re: Cashflow modeling tools - Voyant, i4c etc

#388124

Postby Chrysalis » February 20th, 2021, 9:44 am

If you want access to a powerful cash flow modelling tool you could do worse than sign up for the meaningful academy with Pete Matthew as mentioned above. It’s now closed to initial discounted founder members, and when it opens again will be a bit more expensive, but still a reasonable cost for what you get.
Cash flow modelling is useful, but has its limitations. I’ve paid for it twice professionally and whilst it was good to reassure myself of the robustness of my plans, and to test the possible failure limits, once you are confident of that it probably isn’t adding much more. The main limitation is that the plans date very quickly. The main reason for this is that they have very simplistic ways of modelling investment returns (though voyant also has a Monte Carlo option, it’s main approach is simple linear growth). So they do need constant updating, in which case you’d need an ongoing subscription (which you can access through the meaningful academy at a very reasonable cost IMO).

Other than that I haven’t found other consumer tools, not looked into retire easy though.


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