In the Cashflows & Goals step (on the top menu), you can create scenarios. Once you are happy with the results of the first scenario, you can copy the scenario and do variations for comparison. Each scenario has the following sections:
|Sub-step||What can be entered here (click links for more details)|
|Cash flows||At the Cash flows sub-step, you can enter details for:|
|Review Assets & Loans||At the Review assets & loans sub-step, you can set options and add new items for the following:|
At the Cash reserve sub-step, you can set a Cash reserve goal to keep aside funds for emergencies.
At the Retirement planning sub-step, you can:
For more information, see Retirement planning goal (super contributions and pensions)
|Review super funds & SMSFs|
At the Review super funds sub-step, you can:
At the Review insurance sub-step, you can:
For more information, see Insurance
|Review Trusts||At the Review trusts sub-step, you can add instructions for our analysts when you submit the case to the Optimo Financial SDS.|
Add extra scenarios
To add a new scenario, you need to copy an existing one. To do this:
- Go to the Cashflows & Goals step (top menu)
- Choose the tab with the scenario you would like to copy (scenarios appear as sub-tabs under the top menu)
- On the scenario you would like to copy, click the Duplicate scenario button (top right of the scenario form)
- In the Scenario name field, type in the scenario's name - it must be different from the name of any existing scenarios.
- In the Notes section box, you can include notes that describe how this scenario will differ from existing scenarios.
- In the Scenario description (for customer) box, you can include notes that you would like included in the results documents.
You can make as many scenarios as you need, however, note that if you submit the case to the Optimo Financial SDS, the quote is partly determined by the number of scenarios you ask Optimo to do analysis for.
Tips for creating scenarios
For more information on the specific options within scenarios see:
- The help text in Pathfinder - most fields have help text giving more information.
- The Websolve options section on the pages listed on Entering Data in Pathfinder
|Give scenarios helpful names|
Try the robot button
For many actions and goals, you will see the robot icon
If you choose the robot icon, the option will be optimised within the given assumptions, legislation, and details of the case. This button is ideal for anything where you don't have a personal preference or are unsure what to do, because it will give you an idea of feasible values, which you can then adjust (higher or lower). However, you should also be aware that it may not take into account all your circumstances or appropriate risk, so you should check the results to make sure they are appropriate. If you don't like the results, you can choose a different option from the robot, and try again.
|Set up your first scenario with care|
If you set up your first scenario well, then running extra scenarios will be easier. If you're not sure where to start you can try one of these approaches:
|Run more scenarios for comparison|
Running another scenario lets you:
|Keep track of your scenarios|
Some tips for keeping track of different scenarios are:
Strategy Development Service (SDS) options
If the case includes complex analysis, it cannot be done with the websolve and the case needs to be submitted to the SDS. You can give instructions for what should be done for each scenario at the Cash flows & Goals step in the Scenario notes box.
For more information on what can be covered in the SDS, see the sections called Wesolve options and Strategy Development Service (SDS) options on these pages:
- Family home
- Investment Property
- Shares/Managed fund
- Lifestyle asset
- Fixed interest (term deposits, government bonds)
- Insurance bond
- Unsecured loan
- Secured loan
- Reverse mortgage
- HELP debt (a.k.a Higher Education Loan Programme debt, HECS debt)
- SMSF (Self-Managed Super Fund)
- Retirement planning goal (super contributions and pensions)
- Cash reserve goal
- Tips for creating scenarios (Cashflows & Goals step)