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SC Goals Planner

A digital tool that makes building a sound and comprehensive financial plan a possibility for everyone

Launched in collaboration with leading Singapore fintech BetterTradeOff, SC Goals Planner helps you make informed and confident decisions about your personal finance, by making it easy for you to see and understand how best to achieve your financial goals.

SC Goals Planner stands out from other financial planning tools thanks to its user friendly, yet comprehensive functionality. The solution enables you to quickly, accurately and easily simulate multiple scenarios in real-time and build a plan that’s holistic and highly personal.

Will I be able to retire comfortably? How much money is enough? Can I afford my dream house? Am I sufficiently protected against the unexpected? SC Goals Planner helps you address these questions and more.

 

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Figure 1: Add goals to your personalised financial dashboard and see the impact on your overall plan

Build your own financial plan

You can build an initial plan in minutes, by answering a few simple questions, and find out whether you have sufficient funds to achieve your goals and sustain you throughout your life.

Visualise your goals

SC Goals Planner uses your information to generate a personalised dashboard with a visualisation of your whole life financial plan.

Plan for your retirement

The solution’s cutting-edge engine dynamically recommends and implements suggestions on how you can achieve or enhance your retirement goal.

Simulate property decisions

You can simulate life events such as a property purchase with ease. SC Goals Planner helps to pre-calculate key information based on your profile and dream property.

Refine your plan

Your plan grows with you over the course of your life. You always have the option to refine your profile for more accuracy. Any updates you make will be reflected in your plan automatically and in real-time.

Protect your future

Life doesn’t always go according to plan. SC Goals Planner gives you the ability to simulate unexpected events so you can always be prepared.

Take it forward

Export your information in seconds for further discussion with your Relationship Manager so that you can put your plan into action.

Start now and build your financial plan today via SC Online Banking or SC Mobile App.

Getting Started 

Getting started with SC Goals Planner is easy. This solution is available free to all Standard Chartered customers.

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Figure 2: Login to SC Online Banking or SC Mobile App and click on “SC Goals Planner” under “Goals & Planning” in the menu

Set up takes just a few minutes and with the support of the software, you only need to answer a few simple questions to get up and running.

– Start by choosing the goal(s) that you’d like to achieve
– Include your family members for a holistic plan
– Tell us about your current living arrangements
– Share more about your household income
– Enter your expenses or savings and we’ll calculate your monthly cashflow
– Input how much you’ve already accumulated
– Tell us about your retirement plans

Mobile Phone, Cell Phone, Phone

Figure 3: Answer a few simple questions, such as your financial goals, family household and retirement plans, to build your plan in minutes

Using the information provided, SC Goals Planner generates a personalised financial dashboard, providing you with a comprehensive but easy to understand visualisation of your whole life financial plan, including cash flow, savings and net wealth.

Did you know?

BetterTradeOff’s robust data engine uses a combination of regulatory data and statistical models to help users build their plan – automatically and seamlessly factoring in taxes, mandatory contributions (such as CPF), housing costs, investment returns and living expenses. Users also have the option to refine these further for even more accuracy.

Visualising your goals

Using the information provided, SC Goals Planner generates a personalised financial dashboard, providing you with a comprehensive but easy to understand visualisation of your whole life financial plan, including cash flow, savings and net wealth.

Mobile Phone, Phone, Cell Phone

Figure 4: See the evolution of your cash flow, savings and net wealth over time in ‘Advanced’ mode or get a simplified view of the progress towards your goal at a glance in ‘Lite’ mode.

Equally powerful is the ability to simply ‘drag and drop’ goals into your plan and see it update in real time – no complex forms or calculations – it just works! Immediately, you can see where you stand in relation to your goals, if there are any gaps or areas of concern, and what steps you can take to reach your goals or improve your quality of life at retirement.

With SC Goals Planner, you’ll be able to simulate and visualise goals, such as retirement, property purchases, education and many more.

Retirement

How much do I need to achieve my retirement goal? How do I get there financially? Can I afford my other goals and still retire comfortably?

One of SC Goals Planner’s most powerful features is its ability to recommend key actions dynamically. This includes suggestions on how you can achieve or enhance your retirement dream, based on the information you provide. These insights show how you can get closer to your goal with clear and informative content and can be implemented in your plan automatically.

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Figure 5: Clicking on the light bulb icon on your dashboard displays informative content to show you how close you are to your goals and you can also add these solutions to your plan seamlessly.

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Figure 6: In a single click, you can instantly simulate an investment and see the impact on your plan. Your financial dashboard is updated in real-time to incorporate the new goal or lifestyle changes.

Property

Similarly, you can simulate other actions, such as a property purchase, with ease. The solution helps to pre-calculate key information based on your profile and dream property – such as the down payment amount, mortgage repayments and stamp duty. You’ll be able to see what you can afford and how your overall life plan is impacted once the property purchase goal is added.

Phone, Electronics, Mobile Phone

Figure 7: Simulate a property purchase, including mortgage payments and loan interest rates, and add this to your plan.

Refining your plan

In addition to simulating goals and implementing recommended actions, you always have the option to refine your profile for better accuracy. For example, you can update your existing investment details to reflect regular contributions, payout and rate of return. Your life plan will be updated automatically and in real-time, taking into account all the changes made. This helps you see how changes to your personal situation impact your overall financial plan.

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Figure 8: Edit your recurring contributions and payout options of your current investments 

Other than investments, you’ll also be able to update details of your household, income, expenses, accounts and insurance plans under your profile anytime.

Protecting your future

Having a plan is well and good, but life doesn’t always go according to plan. SC Goals Planner not only helps you check your retirement plan and goals, it also gives you the ability to simulate unexpected events, ranging from unemployment, to critical illness, and even death.

You can view the financial consequences of ’what-if’ scenarios in the case of adverse events and see whether you are adequately protected. In the event you lack the protection needed, the solution will seamlessly calculate an appropriate coverage gap to ensure your plan is not thrown off course.

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Figure 9: A simulation of how unexpected events like unemployment can affect your plan, including suggestions of what the user can do to reduce the shortfall or coverage gap

Taking it forward

With a comprehensive financial plan complete, you can export your plan in seconds for further discussion with your Relationship Manager to tailor solutions for your needs.

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Figure 10: Click on the ‘Financial summary’ button to preview and download your personalised report

 Build your own financial plan today via SC Online Banking or SC Mobile App.

Find out more about SC Goals Planner here.

Disclaimers

This article is for general information only and it does not constitute an offer, recommendation, or solicitation of an offer to enter into any transaction or adopt any hedging, trading or investment strategy, in relation to any securities or other financial instruments.

This article has not been prepared for any particular person or class of persons and does not constitute and should not be construed as investment advice or an investment recommendation. It has been prepared without regard to the specific investment objectives, financial situation or particular needs of any person or class of persons.

You should seek advice from a licensed or an exempt financial adviser on the suitability of a product for you, taking into account these factors before making a commitment to purchase any product or invest in an investment. In the event that you choose not to seek advice from a licensed or an exempt financial adviser, you should carefully consider whether the product or service described herein is suitable for you.

You are fully responsible for your investment decision, including whether the investment is suitable for you. The products/services involved are not principal-protected and you may lose all or part of your original investment amount. Standard Chartered Bank (Singapore) Limited will not accept any responsibility or liability of any kind, with respect to the accuracy or completeness of information in this article.

This document is being distributed for general information only and is subject to the relevant disclaimers available here. It is not and does not constitute research material, independent research, an offer, recommendation or solicitation to enter into any transaction or adopt any hedging, trading or investment strategy, in relation to any securities or other financial instruments.

This document is for general evaluation only. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person or class of persons and it has not been prepared for any particular person or class of persons. You should not rely on any contents of this document in making any investment decisions. Before making any investment, you should carefully read the relevant offering documents and seek independent legal, tax and regulatory advice. In particular, we recommend you to seek advice regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs, before you make a commitment to purchase the investment product.

Opinions, projections and estimates are solely those of SCB at the date of this document and subject to change without notice. Past performance is not indicative of future results and no representation or warranty is made regarding future performance. Any forecast contained herein as to likely future movements in rates or prices or likely future events or occurrences constitutes an opinion only and is not indicative of actual future movements in rates or prices or actual future events or occurrences (as the case may be). This document must not be forwarded or otherwise made available to any other person without the express written consent of the Standard Chartered Group (as defined below).

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A covering strategist may have a financial interest in the debt or equity securities of this company/issuer. This document must not be forwarded or otherwise made available to any other person without the express written consent of Standard Chartered Group.

 

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. For clarity, these investment products are not deposits and do not qualify as an insured deposit under the Singapore Deposit Insurance and Policy Owners’ Protection Schemes Act 2011. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

This advertisement has not been reviewed by the Monetary Authority of Singapore.