Everyone loves money, but everyone is afraid of financial planning. Rockridge is going to change that. We've created a web application that makes it effortless to create your own financial plan. Users simply answer a few questions to see visualizations of what they need to do to pay off their debts and retire in comfort.
Every user gets their own path to financial security. They can login with Capital One to connect their financial data. And if they veer from their path, we send them a text message using the Nexmo API. It's all integrated seamlessly within our app.
Behind the scenes, we use real math to come up with a real financial plan for every user. We used a fixed rate of return of 7% and a time horizon from the user's age to 120 years old. We take into account inflation of 3%, and if the user isn't saving enough to meet their retirement needs, we find the optimal amount they need to save per month. We also implemented Historical (Bootstrap) Monte Carlo simulation for returns to develop realistic retirement projections we can present with statistical confidence.
Finally, people are afraid of things they don't understand. That's why we created Rockridge University, a suite of short videos and quizzes to teach users about financial planning. There is now one site where users can create a comprehensive personal financial plan, see what they have to do to achieve it, get text message reminders if they veer from their path, and learn more so that they fear less.
Check out Rockridge.io from your laptop to experience it yourself.
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