HARTFORD, Conn., Jan. 9, 2007 (PRIME NEWSWIRE) -- FinancialMedic, LLC, a pioneer in the field of online financial projection tools for assessing retirement readiness and financial independence, today announced free unlimited access to their Retireport web service. The decision to offer this patent-pending, advanced reporting tool directly to consumers for no charge comes at a time when many Americans, including tens of millions of baby boomers, are facing growing risks and concerns about their retirement security.
"Retireport began as a research project focused on providing accurate projections of a client's chances of meeting their retirement goals by analyzing and integrating a complete range of financial domains," says Sam Cuscovitch, co-founder of FinancialMedic. "The question 'When can I retire?' is simple to ask, but difficult to project accurately without this integration."
According to Cuscovitch, "Simulation techniques must be used to examine the tradeoffs between all domains, including Real Estate, Investments/Annuities, Income/Expenses, Assets/Debt and others. Otherwise there is no reliable way to give clients a clear view of how interest and inflation rates, real estate valuation and many other factors may affect decisions to optimize plans for retirement. Social Security and Pensions are at greater risk now than ever and must be considered with all other factors."
Retireport is a web-based service that provides users with secure access to their real or experimental data, with instant summary evaluations on-screen as well as detailed reports. Reports may be saved, scheduled as e-mail, or printed at will. What-if features allow basic goals and assumptions to be easily changed when generating new scenario evaluations.
"Retireport is much more than an online financial calculator," claims Cuscovitch. "We see those tools as extremely limited in their function and scope. They do not project on a year-to-year basis, nor can they usually retain the client's data between sessions. The only other options to date are from financial institutions pushing programs serving primarily their own interests, not necessarily the client's interests. Retireport is a 100% unbiased and comprehensive projection tool, the only one we know of online for the consumer."
Retireport provides registered users the ability to create their client profile in a holistic and comprehensive fashion. Reports may be generated at any time. Monte Carlo simulation and heuristic modeling techniques predicting risk and volatility are applied to each analysis. In addition, current value determination of the client's investments (stock/fund ticker share price) as well as interest and inflation rates and other factors are automatically updated daily.
Retireport is available to consumers for no charge at http://www.financialmedic.com. Registration requires no credit card and has no trial period.
FinancialMedic also offers discounted licensing to dealers interested in operating Retireport on behalf of their clients. This use of Retireport appeals to a variety of applications in sectors including independent financial or estate planners, tax or insurance advisors, or HR departments providing guidance for employees on 401(k) or other plans.
The FinancialMedic.com logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3175