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Health & Subjective Well Being

The strategic modeling tool available on this website and described below is a continuation of research since 2005 by seasoned retirees (software, mathematics, data analysis, finance, optimization) who sought to develop a web-based tool out of their interest to acquire an unvarnished view of personal finance. They saw the need to invent a work of art to address the biggest Baby Boomer 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.

Of further interest to the authors was to find solace from revenue and income driven motivated professional services who "guide" their clients to make good decisions. Unfortunately, sometimes (how often?) there can be a grey area as to whom is best served by such guidance, the professional/service or the customer. So by design, FM is not selling financial instruments of any kind (stocks, funds, annuities), insurance, financial advice or guidance, tax, or other services. It is instead a neutral source of information and analysis of systems interacting with each other.

FM is 100% about research and development to address lifestyle questions and choices by creating models that represent highly integrated possible or likely solutions to the way any given individual (case) may roll the dice. FM makes use of the wide historical paths of past and present data available and in use to drive the data science behind the Model Architecture (early patent filed in 2007).

FM was created as a tool for the consumer, nothing more and nothing less. To this day, the authors find no products, apps or services in the market providing this level of scope and investigation that can be readily applied by any individual in the US workplace and marketplace who may be using the tool provdied here.

Since early development through 2009, the authors have proceeded to focus on other aspects of significant factors affecting their respective lives. What they have discovered has not only validated & bolstered the original financial model ("Will I die broke?") but also widened the model's breadth to treat Physical Health/Health Care & Subjective Well-Being (SWB)/Happiness as 2 more distinctive "super domains" necessary to add to the first super domain as Financial. Together this triad of domains form a type of bench or stool any individual is balancing on throughout life.

FM then helps any individual evaluate whether the precarious stool most of middle America has been perched on for some time has "3 sturdy legs" of Finance, Health, and Happiness for their personal future. A plan without consideration of all 3 factors and how they may interact with each other (i.e., often as trade offs to one another) is incomplete and inaccurate. Research shows a significant financial cost associated with poor scoring or trending for either Health or Happiness. Likewise, illness, depression and other health issues directly influence one's work abilities and job securities.

Another cost on everyone's minds these years relates to Health Services and Health Insurance. FM takes a very detailed look at the health care and insurance situation in real dollars and service tradeoffs (premiums, out of pocket expenses, ACA plans available as well as other off-network plans). Our simulation projection investigates how these costs play into one's annual and cumulative cash flow and health conditions into the future including mortality.

Try creating a fictitious client on FM as your own test case. You can then experiment with the many facets of domains and sub-domains FM addresses including Health & Happiness Surveys and Financial details at any level desired.

These are common questions on the minds of many today:

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Can You Achieve Financial Independence consistent with your Lifestyle?

How Secure Is Your Financial Future?

What Is The Effect of Risk & Volatility?



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What The FM Model Tool Does
Test Case Study: Gunga Din

FinancialMedic, LLC (aka FM) 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.

As an example, the authors perceived risk in 2005 with respect to real estate markets & related mortgage offerings. Authors' early R&D product focus was in Real Estate & Mortgage Debt, creating a balance sheet projection tool for 'R.E. - Debt' such that each author was able make appropriate personal decision(s) at the time to to avoid the devastating consequences of what became The Great Recession.

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!

Gunga Din is a 60 year old resident of Kankakee, IL. The link (below) 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 with the aid of API services the site uses.

Gunga is dating Linda Dunn. Today's FM requires Gunga and Linda have separate accounts. We are now developing the capability of analyzing the implications of partners staying joined as either singles or as married couples.

View Gunga Din's sample report.

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 subjective well being 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.

Attributions

Financial, investment data provided by IEX Cloud
Fed Reserve Economic Data (FRED)
Taxee - Your Friendly Neighborhood Income Tax Data and Calc. API
Quandl, a platform for financial, economic, and alternative data that serves investment professionals
Medical Expenditure Panel Survey (MEPS)

Authors' Copyrighted Works of Art

* FM Financial Independence Model Architecture, patent app. (2007)
* FM Mortgage Debt DSS Architecture, patent app. (2009)
* FM Consumer Health Care DSS Architecture (2009)
* Long Term Care Insurance Rate Adjudication & Neutrality (2019)

[Contact the authors, researchers & developers]

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