How does it work?
Fin4sight™ is a world-class, user-friendly personal Financial Health Assessment tool that anyone can use. You don’t need to have a background in finance to be able to use the tool. In fact, the tool is useful for all those who wish to develop the foresight to take any early corrective actions pertaining to their future financial matters.
The tool allows you to key in information about your financial matters – such as your expenses, your salary or other income, as well as the investments that you already have made and any borrowings or loans that you may have.
It also allows you to provide information about how you expect your expenses may change in the future, or what investment returns you may earn in the future on your existing investments. Don’t worry if you currently feel challenged on how these assumptions should be set. The tool comes with some in-built assumptions that may be reasonable in the current scenario. You are also provided with helpful tips to change these assumptions, if your personal circumstances are different.
Once you key in all the inputs and assumptions, the tool projects your financial position in the future - such as your future income, future expenses, future investments and assets, future borrowings and loans etc. Based on this, you will receive a customised report in a PDF format, which you can download for further analysis and future reference.
The report itself is designed to provide you with sufficient insights into your financial position and helps answer questions such as –
- Am I likely to face any cash-flow issues over the short term?
- Are my investments in the ‘right’ category?
- How much investments do I need to have today, so that I can sustain my current lifestyle in the future?
- What is the earliest I can retire and still continue to sustain my current lifestyle?
- Do I have adequate life insurance to provide financial protection to my loved ones in case of my untimely demise?
What’s more? You can also download your inputs and assumptions so
that you don’t need to key in all these again, the next time you use the tool – simply upload
the previously downloaded file and make the necessary changes.
We encourage you to use the tool frequently in order to get a good insight into your financial condition in the future, based on the ever-changing personal circumstances and the external environment.