Wrightpoint Wealth

How to Model Long Term Care in ProjectionLab: Probabilities, Costs and the Three Scenarios You Need to Run Most ProjectionLab users have stress tested their portfolio against market crashes, optimized their Roth conversions and feel good about their probability of success. Then they skip the one scenario most likely to blow it up. Long term care is the largest uninsured financial risk most households carry into retirement and the odds are higher than you think, the costs are more nuanced than the headlines suggest and almost nobody is modeling it correctly. This article explains how to go about modeling long term care in ProjectionLab. What Are the Odds? The probability of needing long term care is higher than most people expect and varies significantly depending on whether you are single or married. For a Single Person According to the American Association for Long Term Care Insurance 2024 report: Demographic Probability Average Duration Women 51% 3.2 years Men 3...

If you are managing your own financial plan in ProjectionLab you are already ahead of most people. You understand your numbers, you run your own scenarios and you don't need a PDF from an advisor to tell you where you stand. But there is a question worth asking. Are you missing anything? It's a fair question. The financial planning software that most advisors use has been around for decades. It has deep integrations, institutional backing and a long track record. ProjectionLab is newer. It was built for people like you. DIY investors who wanted a powerful tool without the advisor price tag. But does newer and more accessible mean better? Or are there things the big platforms do that ProjectionLab simply can't? The honest answer might surprise you. What the Big Advisor Platforms Actually Are The tools most financial advisors use every day are enterprise platforms like eMoney, MoneyGuidePro and RightCapital. They are sophisticated, expensive and built primarily for advisors n...