Moneydance Foresight Forecast - asset growth

ian's Avatar

ian

21 Sep, 2022 02:21 PM

Hi

I have been a Moneydance user for quite a few years after transferring from MS Money. I used to like the 'Lifetime Planner' in MS Money and the nearest feature in Moneydance is the Foresight Forecast. There's a couple of things that could really improve it (in order or priority):

1. Allow you to specify annual growth of an asset or investment to allow for that when forecasting. (Currently, for example, taking a regular payment from a pension fund shows the pension fund slowing being depleted of funds and does not account for the annual growth of the fund). Without taking into account asset growth the forecast is almost useless for anything less that the most basic scenario of cash in a bank account.

2. Be able to specify monthly expenses as special type of reminder just for forecasting. Not everything can be a reminder but can still be a significant and regular expense, e.g. groceries, hairdresser, petrol/diesel...

3. Be able to include accounts in the forecast, but not plot a line on the graph as it gets very cluttered. I can't find a way of doing this...

4. Support for 'What If...?' scenarios. This could have the flexibility to link a scenario to underlying transactions. Examples:
     - if an asset is sold, any debts related to that asset would be paid off, related loan payments stop and the equity is released.
     - if I pass away, my salary stops and a life insurance payment is received.
     - if one of my children leaves home, my expenses drop by x%...
     - if one of my children gets a job (but stays at home), I will received x per month in 'rental income'

5. Allow a profile of me and my family so I can see my age, and that of my wife and children, plotted as part of the forecast. With that, the ability to set an endpoint for the forecast based on, for example, me reaching my 100th birthday (haha). Also, related to item 4 above, there could be age-related 'what if...?' scenarios, such as, when I retire, when my children become adults, etc. This is a low priority 'nice to have' feature really.

Feel free to reply with comments or other ideas...

Thanks for the great MD application and all the work you put into it..

Cheers

Ian.

  1. 1 Posted by obbiie on 26 Sep, 2022 11:15 AM

    obbiie's Avatar

    Would really like to see items 1 & 2. The biggest thing that keeps me using MD is having my budget and portfolio all in one app with the updates from the quote loader. Having the ability to forecast growth on the asset accounts by setting an assumed growth rate would be great.

    For item 2, I have a budget set up for things like groceries and then a reminder for the last day of the month with the total budgeted amount, which I can just skip at month end. Keep the cash forecast daily accurate.

  2. System closed this discussion on 26 Dec, 2022 11:20 AM.

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