In past blogs, we have discussed the pros and cons of various software applications relating to financial services. Moreover, when writing about a particular piece of software, I have always been candid in my assessments. This hasn't always set well with those who offer the program, but as the baseball umpire says, "I call 'em as I see 'em." I also seem to have a tendency to find issues that need to be improved, much like a proofreader of a soon-to-be-released book. In this post, I will update my experience with eMoney's financial planning system.
Why I Changed My Software
As 2014 was ending, it became clear that I needed a different financial planning tool. For the previous 10 years, I used Excel with a $1,500 add in called Crystal Ball. Crystal Ball provided Monte Carlo simulation, decision analysis, and optimization on any input or output of the financial plan. In short, it was an open-architecture system.
However, it was far too labor intensive, and if you have ever created a software application, you know there are always little bugs to fix. Because I increased my number of financial planning clients, a change was inevitable, and eMoney was my choice. Why eMoney? I chose it because its planning tool was robust and the program offered additional attractive features.
eMoney: Overview, Issues and Solutions
