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Health & Happiness (SWB)

The strategic modeling tool described below is a continuation of research initiated in 2005 by 3 seasoned, prospective retirees who sought to develop a web-based tool out of an interest to acquire an unvarnished view of personal finance. They saw the need to invent a work of art to address the question - "(when) can I retire"? A benefit of knowing one's strategic financial picture is to avoid being constantly distracted with personal finance questions & piecemeal non-contextual advice of which there is plenty.

The authors since have gone on to focus on other aspects of their respective lives. What they have discovered has not only validated & bolstered the original model but also widened the model breadth to treat health & subjective well-being (SWB a.k.a. happiness). The tool helps one evaluate whether their "stool has 3 sturdy legs" of finance, health, and SWB. A plan without consideration of health & SWB is incomplete as research shows a significant financial cost associated with poor scoring or trending for either health or SWB.

These are common questions on the minds of many today:

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When Can You Achieve Financial Independence consistent with your Life Style?

How Secure Is Your Financial Future?

What Is The Effect of Risk & Volatility?

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FinancialMedic created a system to give middle America access to a comprehensive projection tool that provides a fully integrated view of your financial future, inclusive of domains: Investments, Real Estate, Health, Taxes, Insurance, Income & Expenses, Debt, Social Security/Pensions. Projections are necessarily probabilistic, especially when you consider health & mortality. Like weather reports, projections have obvious limitations yet provide a helpful baseline and direction.

So where were the investment houses, Federal Reserve, media pundits, economists, certified financial planners, regulatory agencies, etc. at the time!? Same question with the lead up to the tech crash in 2000. Millions of Americans may have been doing the "right thing" by saving & managing their 401Ks, IRAs, aka Investments - but that has done little to save a generation from disaster!

As an example, the authors perceived risk in 2005 with respect to real estate markets & related mortgage offerings. Authors' initial R&D product focus was in Real Estate & Debt, the goal to build a balance sheet projection of 'R.E. - Debt' such that each author was able make appropriate personal decision(s). The payoff was to avoid the devastating consequences of the Financial Crisis.

Authors' published works of art

Model Architecture

Debt Architecture

Health Architecture (circa 2009)

Contact authors, researchers, or developers for information

CASE STUDY Gunga Din, a 60 year old resident of Kankakee, IL. The link (right) presents a comprehensive sample report (PDF) to illustrate the scope of topics that are addressed by the system for a client whose case has a number of moving parts. Gunga even plays the futures market, arguably not recommended as an imminent retiree, though for his benefit our Investment module allows him to track his positions. Gunga is dating Linda Dunn. Each having separate accounts, we are developing the capability of analyzing the implications if they were to join as singles or married.

Would Gunga & Linda be trading off finances for happiness (or vice versa)? Our latest R&D effort in the Health module helps Gunga select an ACA health plan consistent with his current financial, health, and SWB status. The sample report is reflective of our on-going enhancements to our original release. But far more important to Gunga (and Linda) is whether both see a match made in heaven. View Gunga Din's sample report. Though the full report is rather lengthy, Gunga & our clients have access to various sets of brief reports focused on their domain(s) of interest.

ATTRIBUTIONS (to those supplying critical data for our analysis):

Financial, investment data provided by IEX Cloud

Fed Reserve Economic Data (FRED)

Quandl, a platform for financial, economic, and alternative data that serves investment professionals

Medical Expenditure Panel Survey (MEPS), a source of data on the cost and use of health care and health insurance coverage

Taxee - Your Friendly Neighborhood Income Tax Data and Calculation API.

Please note that parties listed above are not responsible for the application of the data resources that they provide.