I’ve been using Projection Lab for several months now. The initial setup takes a little while (you want to make sure you have accurate numbers from all of your accounts, including assets and liabilities), but once you get that dialed in, it’s so easy to manipulate things and see how your projection changes. My husband and I are considering buying a new-to-us vehicle, for instance, and I easily created scenarios for buying with a loan vs cash to see how it would affect us. It’s so powerful to be able to attach future numbers to financial decisions!
Another really important use for me is in teaching my kids the value of compounding interest. My 12 year old was on the fence about investing her small pot of savings money until I showed her a projection of what that money could turn into if she invested it for the next 10, 20 years. She regularly asks me to help her try out different scenarios in her own projection, and I’m sure she’ll be using the tool herself before long.
This tool is now an essential part of our personal finance planning and one that I plan to use for years. Highly recommend.
Thanks for sharing, Ashley! It makes me happy to hear ProjectionLab had that kind of impact. And if your daughter is already learning the value of compounding at 12, it sounds like she has a bright future ahead! ☀️ 📈
ProjectionLab had empowered me to plan my future! I can write down how much I expect to earn and spend, and what big purchases and moves I expect to make in the future, and then ProjectionLab allows me to play with hundreds of possible futures to answer critical questions like "when should I retire?" and "how much will it cost to move to a higher-tax state?"
Tip: multi-condition milestones are great for creating complex decision trees to represent how you would react to different market conditions
At the heart of personal finance is a search for peace of mind.
Whatever your financial goals may be, ProjectionLab can help you attend to them and find that peace of mind. Whether you're focused on building a big picture assessment of current conditions or want to endlessly tinker with projected outcomes for the future, it has you covered.
ProjectionLab is a great product, which I've been using for several months now. After a little testing, it was a no-brainer to grab the lifetime plan. It has deftly replaced my hodge-podge of spreadsheets and looks a lot better too!
Projection Lab is already a strong offering as a personal financial modeling tool, and the feature set continues to grow. The future looks bright for PL!
I have been using ProjectionLab for about two years now, and it is the most feature-comprehensive financial planning tool I have ever used. It provides a complete picture of my future financial outlook and gives me confidence in my ability to (one day) retire successfully.
Everything I could wish for. Mint is nice for budgeting, but for planning, this does it all! Very detailed and accurate. This is a retirement plan that I can trust. The other calculators that return wildly different results from each other don't hold a candle to this.
