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AIO Financial has started using eMoney to help clients with financial planning.
eMoney provides comprehensive financial planning software. It helps financial advisors and clients collaborate on financial plans and allow clients to plan for the future.
It helps with: retirement planning, spending, estate planning, taxes and cash flow.
eMoney allows you to link all of your accounts and debts. You can link to your:
Assets
- investment accounts
- employer sponsored retirement accounts (401k, 403b, 457)
- banks accounts (checking and saving)
- real estate (residence, investment property)
Debt
- credit cards
- mortgages
- car loans
- personal debt
Income
- eMoney will compute how much money goes into all accounts
- from employer
- own business
- rental
- royalties
Expenses
- eMoney will calculate your expenses
- you can enter other expenses you have or expect to have
Goals
- retirement expenses
- travel expenses
- car replacement
- projected medical expenses
Cash Flow
eMoney will help with cash flow projections. It can help estimate how much money you have at any period of time and determine what account it would be best to take money from each year. This helps with tax projections and with estate planning.
Tax Projections
By seeing how much money you will need from each account each year you can plan and make good tax decisions. We often do Roth conversions, moving money from IRAs to Roth IRAs. This is a taxable event in the year you do the conversion but the money is in a Roth IRA were money can be taken out without paying taxes and there is no required minimum distribution from a Roth IRA.
Estate Planning
By knowing how much will be needed to fund your retirement, this can help determine if you can (and when would be best) to make gifts to your beneficiaries. This can help you avoid (or reduce) estate taxes and allow you to help your beneficiaries (people or organizations) while you are still alive.
Client Portal
Each client is given access to a portal where they can log in and enter information about: date of birth, health, life expectancy, family, assets, goals, balance sheet … This can all be entered into the system by the client or it can be done during a meeting with the financial advisor. Clients can log into the portal and view reports, such as a balance sheet and cash flow projections.
We will work to get all of your information into eMoney. If you do nothing, that’s fine too. We will be working on each account during out meetings.