I have decided to re-do my financial plan as it has been such a long time since I put one together and started posting it here.
My financial plan is based around buying ‘buy to let’ property in the UK and I am going to write piece of software to calculate the optimum levels of investment to help me save towards being financially free by using this investment medium.
It is based around working in London on a contract basis for companies as a web developer which is my trade and saving towards buying rental properties.
I hope to buy enough property so that I can live from the income. I also want to buy a home for myself and my family.
At present I have £20k in savings and £10k in debt. I also have another £10k owed to me for work I have completed and invoiced.
This is my starting point.
These are the ‘stories’ or requirements that I have for my piece of planning software. If anyone has any other requirements you think a piece of financial planning software such as this should have please feel free to post a comment on this post.
I am going to develop the web application as an MVC web application so that others can use it to work out their plans.
Here are the requirements so far:
• As a planner I want to be able to enter my expected income for a given year to include this information into my plan
• As a planner I want to be able to enter my expected holidays for a given year to include this information into my plan
• As a planner I want to be able to enter my expected expenditure for a given year to include this information into my plan
• As a planner I want to be able to enter my desired income target and have my plan include this information
• As a planner I want to be able to set aside cash for emergences in my plan so that if life doesn’t follow my plan I am not over invested
• As a planner I want to see a breakdown by year of my financial situation until I am financially free
• As a planner I want to see a summary of how many years and months I will have to work to achieve my target income and be financially free for given the inputs I have entered
• As a planner I want to see the optimum set of inputs to achieve my target income in the shortest length of time
• As a planner I want to see a variable set of outputs given changes in percentage interest rates for mortgages and savings so that I can see how wider economy changes can affect my plan
• As a planner I want my plan to based around buying ‘buy to rent’ property as the main asset investment
• As a planner I want to be able to buy my own property for my family to live in
—- edited later
not sure what is going on with the fonts on this page…
Also an other requirement is
- As a planner I want to be able to track my actual progress as the months / years go by, and have the plan adapt to these changes