Frequently Asked Questions about eFinPLAN Financial Planning

Question:              What is eFinPLAN?

Answer:                eFinPLAN is a revolutionary web-based financial planning software that has been designed for people of all income levels to take control of their financial futures.  eFinPLAN is the first and only affordable and understandable platform for consumers to use in planning their finances in the convenience of their homes.

Question:              Why did you create eFinplan?

Answer:                We created eFinplan for one basic reason: to help people of all income levels have peace of mind about their finances.  It is difficult to feel happy if your finances are in disarray.  Many believe that if they just had a larger income they would be happy.  The truth is, for a majority of people, if they would prudently manage their finances, make good decisions, work in tandem with their spouses, and act according to their values and beliefs, they would feel more in control and have peace of mind about their finances.

                                In addition, having worked with the wealthy (for a fee) and having counseled the poor who are in crisis (for free), we realized that there is a huge need to help people who are somewhere in between to learn how to manage their money. 

                                Lastly, it has been reported that only 25% of people have a financial advisor, and only  1% - 2% of middle income households work with an accredited financial planner.  We believe that financial planning helps people live more happy and successful lives, and we hope that this will reach more people who are unreachable with conventional planning.

Question:              Why did you create eFinPLAN as an electronic platform instead of the way traditional financial services are provided?

Answer:                First let’s discuss the different business models for how financial planning services are provided.  There are

                               five ways that people receive financial advice.  I have worked as (or with) all of these:

We created eFinPLAN as an affordable means for everyone to receive a financial plan, without the potential for financial product bias or pressure to purchase a product. 

Question:              Do middle income people need the assistance of these advisors?

Answer:                People most certainly may need the expertise that these professionals can provide.  eFinplan supports this by helping clients understand their needs and referring clients to advisors for implementation when they are needed.

Question:              What areas does eFinPLAN cover, and what makes it unique?

Answer:                eFinPLAN covers the traditional areas that most other financial plans do, such as:

1.      Net Worth

2.      Cash Flow

3.      Retirement

4.      College Education

5.      Future Purchases

6.      Investments

7.      Insurance

8.      Estate Planning

In addition to these traditional areas, eFinPLAN is unique in that it also addresses the following areas that are not covered by other financial planning software:

1.      Money Habits

2.      Transportation

3.      Debt Analysis

4.      Money Tools (i.e., technology)

5.      Relationships and Values

6.      Charitable Planning

7.      Utilizing Trusted Professional Advisors 

Question:              Financial Planning and the software professionals use to help clients plan is complex.  Since most people only have limited comprehensive financial knowledge, how are consumers able to understand how to use eFinplan?

Answer:                eFinPLAN was built with the consumer in mind to “Take the Mystery Out of Financial Planning”.  It walks people through computer input of information in an easy-to-understand conversational format, with most technical jargon removed. The entire eFinplan process is educational.

Question:              What if I don't have all my information handy will this hamper me from completing my plan?

Answer:                eFinPLAN has been designed so that if you are missing any information, you can skip it and come back to it later.  The software has default assumptions.  This will enable people to still have a completed financial plan to print out.  They can log on anytime later for up to a year to input more information and print out an up-to-date plan. Therefore you don't have to procrastinate getting started, click here to start the process now. Also, take a video tour to learn more about the "Finish Later" button.

Question:              What if my financial situation changes.  Can I update my plan when changes occur?

Answer:                We realize that financial planning is an ongoing process.  That is why we have placed no limit on the number of revisions that someone can make to a plan within each contract year.  In addition, the software has the ability to run multiple “what-if scenarios” that permit changes to assumptions, interest rates, savings, etc. to see how the plan might change when variables are changed.