Dear MoneyReady App users,
The MoneyReady App is all about exploring different financial planning scenarios. However, until now, you could only explore one scenario at a time and you couldn't return to a previous scenario easily.
Today I am very excited to announce that saved TIME MACHINE runs will now also save a snapshot of the scenario that was run so that you can go back to it with one click. In your list of saved runs, you can click on the button 'Restore' which will appear for all runs going forward. This will replace entries in your current workspace with those from the imported one.
Not everything is restored, as LOAN balances, ACCOUNT and INVESTMENT values, CPP/QPP earnings and current year tax information will retain their most recently updated values.
This allows you to rerun a previous scenario but with updated information quite easily. It is most useful when you have different scenarios with multiple things changed, added, or deleted. For example, you can try different retirement dates that will affect things like your incomes and expenses, and rerun these scenarios any time with updated market information. It also makes it easy to try out a new scenario, for example buying an investment property with a mortgage that adds rental income, and be able to revert back easily if that turns out not to be what you want to do.
Restoring an older scenario can be a dangerous operation if you have entries in your current workspace that aren't saved, but we give you warnings. Just make sure to run the TIME MACHINE and to save your new scenario before restoring an older one.
You will also be able to import ACCOUNTS and INVESTMENTS found in any previously saved scenario that are not in your current workspace: you will see a new button for that beneath your list of ACCOUNTS. These are kept updated in whatever way you keep your accounts updated (manually, with FUNData, or Wealthica) the same way as in your current workspace.
You can find the details in the Help for the 'list of saved runs' page, and in a new section of the MoneyReady App eBook.
This feature has been requested often by many of you for a long time, so thank you for your patience in waiting for its implementation. Note that this feature is not backwards-compatible with runs before today.
Your comments and feedback are always appreciated.
Elisabeth Tillier, Ph.D.
Head of MoneyReady