Savology: Free Financial Planning


Nick Carroll

@nickwcarroll


Financial planning is the strategy in outlining your financial objectives and goals to achieve monetary milestones from achieving debt freedom to retirement planning.

I love road trips. There is something magical when driving long distances from state-to-state. As a kid, I loved staring at state maps soaking in the information

of the vast networks of roads connecting to highways and highways connecting to interstates, much like streams and rivers.


Not having a road map or GPS while driving long distances can be costly. Making one wrong turn can lead to excessive time and fuel. A well thought out route and a map to guide you is a no-brainer.


That is what a financial plan does for your life's journey. Every family needs a financial road map guiding them on their path to achieve milestones along the way.


Unfortunately, many households do not consider their financial path until they start thinking of retirement. According to the National Institute of Retirement Security, "95 percent of millennials not saving adequately for retirement," with 66 percent have saved nothing.



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After personally opening a free account and trying Savology's comprehensive financial plan, I will highlight several reasons why you should give this free service a try. You will learn:


1. What is Savology

2. How Does Savology Work

3. Can Savology Improve My Financial Plan

4. The Cost of Savology

5. How Does Savology Make Money

6. How to Sign Up with Savology & Get Started



1. What is Savology



To address the growing concern of millennials not having financial plans, Savology can assist. Savology delivers an online platform offering fast and free personal financial plans. In about five minutes or less, users will receive a detailed, comprehensive report outlining their financial well-being.


Having a detailed financial report, Savology makes suggestions and recommendations. Consider this as your financial roadmap, because users will discover what action items they need to take, how to improve their financial rating, and what measures based on performance indicators should be addressed.


Savology is a free planning platform helping people just like yourself reach financial success by providing free financial planning in just 5 minutes. You’ll also receive personalized and prioritized action items, to help with those important financial decisions, and a holistic report card, to give you a current snapshot of your financial well-being, so that you have a clear indication on what areas you need to improve and how you can start improving today.

Savology delivers a unique financial perspective that assists users in becoming better educated and more financially inclined toward better decision making when it comes to money.

2. How Does Savology Work


To get a detailed financial plan, users must input crucial several data points and financial metrics. The initial inputs will include basic information such as one's age, gender, zip code, marital status, dependents, and more.


While this may feel invasive, these inputs are vital to getting a more accurate financial plan. For instance, the amount of life insurance recommended may be higher for a family of 8 compared to a single Joe living in an apartment.


Also, the cost of living is higher in New York compared to my old college town Hattiesburg, Mississippi, where a dollar can go a lot further in the south.

After providing some personal information, Savology will ask users to input financial data such as:

  • What kind of retirement accounts do you have and balances

  • Types of bank accounts and balances

  • Emergency Fund

  • Types of assets and estimated values

  • Debt types and balances

  • Life Insurance coverage

  • What age you plan to retire

  • Desired retirement lifestyle



Such questions are very similar to what Certified Financial Planners and advisors will ask their customers. With Savology, the process saves you time and money.



3. Can Savology Improve My Financial Plan



The benefits of having a financial plan are the ability to make financial changes before retirement, correct potential risk areas in one's portfolio, and makes users better informed financially.


Savology makes recommendations that help users improve their financial situation. With their recommended Action Items, users can quickly scan which areas they should address.


For example, users may see they have a $100,000 gap in their life insurance coverage or require an estate plan. Other users may see they lag on having an emergency fund saved for up to six months.



Savology is a powerful tool to improve anyone's financial future, because users can't assume one's employer or government will provide them with all the income they'll need in retirement.



4. The Cost of Savology


Having priced financial plans in the past, discussing your finances with an advisor can range anywhere from $75 to over $500 per hour. While Savology doesn't replace a financial advisor, their platform is a fantastic resource to become better-informed consumers.


The cost of Savology is the best price of all...FREE!




5. How Does Savology Make Money


This then leads to the obvious question, how does Savology make money if they provide this resource at no cost? Savology has partnered with networks and industry leaders from Policygenius to Ladder.


While many of their providers do not compensate them, Savology does have referral relationships to help fund their platform.


Regardless, their free financial resource is very valuable and can help anyone change and correct their financial circumstance.


6. How to Sign Up with Savology & Get Started


To start your financial plan, sign up below using my specialized Savology partner link. Using this referral link will unlock additional Savology features.


After completing your financial plan, you'll unlock your personal link to share with friends and family.

Savology has created the most accessible, affordable, and actionable financial plan on the market. Regardless of the current state of your finances, Savology provides you with valuable insights into your whole financial life including insurances, debt, retirement planning, estate planning and more.



Source: Savology

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