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It is a measure of the likelihood of you reaching your defined goals, living an financially independent life during your retirement, and the efficiency of your financial decisions. In short, it's a comprehensive measure of your financial health.
A credit score is a measure of your creditworthiness. In simple terms, your credit score reflects how likely are you to return the money back to the lending entity. But your Wealthscore is a measure of your financial health. A good financial health translates into higher probability of reaching your defined goals, living a financially independent life during your retirement, and overall higher efficiency of your financial decisions. Wealthscore is for your own monitoring and is not used by any other entity for any other purpose yet.
When evaluating your financial health, WealthScore incorporates a wide range of factors in order to provide a 360° view of your finances. This includes savings, investments, taxes, retirement, insurances and more. Plus we are a free to use platform that does not require you to invest/ buy anything from us. We are completely focussed on providing best financial intelligence to everyone who wants to optimize their finances.
This evaluation is unbiased and grounded in the best practices from the fields of economics and finance recommended by experts, including Nobel laureates as well. We project your future cash flows - income, expenses, investments, loans, insurances, etc. And then match it to your desired lifestye, to understand the gaps and provide a plan taking your risk preferences into consideration.
It just takes 5-10 minutes to share the required information with us. We then take care of all the required analysis, projections and recommendations. We have both, the necessary skills and experience of doing this as accurately as possible. Once you have your WealthScore report, you can just relax and monitor your Wealthscore time to time.
Operating at maximum financial efficiency can create substantially more wealth. Most of us, if not all, fail to operate at this level of efficiency, but is always desirable. One of the reasons for this inefficiency is the tedious and time-consuming process of evaluating enormous amount of financial data. WealthScore helps you to evaluate all this and then constantly monitor your financial state, which is essential for managing all your financial risks in a timely manner. You get to know what you are doing right and what is not working for you, which you act upon based on our advice.
Equities are likely to give high returns over a long term. In short term, they can even be negative. One may find themselves in stressful situations if they were funding their short term goals entirely with equities. You should find the right balance of equity and debt allocations to fund your overall goals in order to lead a smooth and comfortable life.