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PlanMode Financial Planning app for iPhone and iPad


4.8 ( 2608 ratings )
Business Finance
Developer: Sawhney Systems
Free
Current version: 5.0, last update: 8 months ago
First release : 07 Jul 2015
App size: 22.4 Mb

COMPREHENSIVE FINANCIAL PLANNING
PlanMode is provided by the developers who invented the professional financial planning software with the commercial release of the first comprehensive financial & tax planning software in USA, ExecPlan.

This app is for use by individuals for personal financial planning. It provides you with a powerful planning tool for answers to questions like-
• How does my projected financial profile look?
• Should I start taking Social Security benefits at age 66 or wait for larger payments at age 70?
• When will I have enough to retire on my terms?
• What will be the bottom line impact of a new investment?
• Is buying a house is better for me than continuing to rent?
• Is my family protected for their needs if I am disabled or die?
PlanMode can help you analyze these and other situations. It is easy to use and its usage is limitless; you could use it to analyze almost any financial scenario which impacts just in the current year or many years to come.


KEY FEATURES
This app can-
• Prepare complete financial profiles, including-
- Current & projected income and expenses
- Bank accounts
- Retirement accounts
- Business & Investments
- Stocks & Bonds
- Insurance policies
- Real estate
- Mortgages & loans
- Cash management simulation
- Social security
- Income taxes
• Compare financial alternatives
- Unlimited what-if scenarios
• Prepare retirement profile automatically
- Determine lifelong capital needs
- Analyze liquid capital sufficiency
- Alternatives to fill capital shortfall
• Prepare disability profiles automatically
- Analyze cash flow sufficiency
- Alternatives to fill cash shortfall
• Prepare death profiles automatically
- Determine survivor’s capital needs
- Analyze income sufficiency
- Alternatives to fill capital gap

REPORTS & CHARTS
A complete set of financial statements is available for each scenario. PlanMode provides you with comprehensive analysis of retirement and other scenarios for lifetime capital needs and the capital available for its fulfillment. When capital resources are not sufficient PlanMode provides suggestive courses of action that may fill the shortcoming. The following reports are available for each profile scenario-
• Income Statement
• Balance Sheet
• Cashflow Statement
• Supporting Information
• Capital Needs Analysis
• 8 pie charts providing profile snapshots in any year
• 8 line graphs providing overall snapshot of the profile
All charts and graphs dynamically respond to your data.

COMPREHENSIVE
PlanMode includes a number of features that can be found in high-end financial planning systems, such as-
• Profiles for singles and married spouses
• Planning span of up to 100 years
• Retirement profile and analysis
• Disability profile and analysis
• Survivor’s profile and analysis
• Automatic cash management simulation
• Detailed annual cash flow analysis
• Personalized data input items
• Customizable financial statements
• Ample graphs & charts for quick overview
• Scenario comparison for what-if analysis
• Export data to ExecPlan or Express
• Definable national & local income taxes
• Built-in USA income taxes
• Predefined product structures for-
• Individual Retirement Accounts
• Company Retirement Plans (401k)
• Self-employed Retirement Plans
• Mortgages
• Life Insurance
• Fixed & Variable Annuities
• Charitable Annuities
• Reverse Mortgages

WORLDWIDE INCOME TAXES
USA
US individual income tax computations are built-in and applied as applicable. State and local taxes can also be defined via built-in templates.
NON-USA
Non-USA individuals can turn the USA option off and activate a generalized version that allows you to define how income tax should be computed for national & local levels.

Latest reviews of PlanMode Financial Planning app for iPhone and iPad

Agree
This is what Ive been looking for and Ive tried several. Great job.
Excellent
PlanMode delivers a solid financial planning tool. It looked simplistic initially but as I started to enter information and so how comprehensively it incorporated my data in the long term profile I got deeper into it. The more I used it the more motivated I got in exploring further with details. It has some of the simplest and most simplest and most meaningful presentations I have seen in a financial planning app. A number of built in capabilities like automatic cash management seem to provide more realistic feel for the projected values for future years. It has all essential reports that are self formatting based on data entered. capital needs analysis reports are simple and can also be very revealing. Stick with it, its a valuable app and done very well.
Excellent planner
It is comprehensive and covers a wide variety of financial items. I was surprised to find many advanced assets like 401k plans, variable annuities, reverse mortgages etc. in addition to the common income, expense and portfolio items in a mobile app. Overall design is quite simple to get started and navigation between data and reports gets easier as you get the hang of it. Planmode uses dynamic cash management in projecting future years. It took me some time to grasp the concept and realize its usefulness in adding realism to projected years. A full-screen review of the cashflow statement helped in reviewing how cash was invested in years of surplus cash and liquidated in later years when there is not enough income to meet the expenses. Income tax computations are automatic which it allows you to tweak further. The app provides decent basic needs analysis for retirement, death and disability scenarios. It is a type of app that gets better with your use. I am a numbers person and it serves me very well. If you are serious about long term financial planning this app is definitely worth exploring. This is the best app I have found so far.
Very helpful
I got this app for reviewing my need for life insurance. It was fairly easy to analyze and quantify it under different circumstances and expand into money matters. If you need to figure out money profile in 5,10,15 years or more then this app is for you. Great free app.
Very useful
Great for planning for future. Excellent app. Simple to use.
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