Reaching your financial goals can be both simple and complicated.
It’s simple because the basic premise can be boiled down to saving money, which you’ve been doing since you got your first piggy bank.
It’s complicated because the strategies you can employ to save, invest and plan often can feel so convoluted that the mental image of your piggy bank getting fuller and fuller gets totally obscured by portfolios and risk tolerance and stock market performance and…
Then on top of that, you can work with a financial professional, who is ultimately there to help but can often contribute to the complexity of the saving process by requiring a giant pile of documents and signatures in order to help.
That’s why we created Lasso, our goal-based saving app that helps you build a simple plan and connect with a financial professional in a matter of minutes without any of the complicated setup or signature upon signature upon signature—all without any commitment or cost from you.
Today, we want to discuss how to use Lasso to eliminate the complexity of building a plan and engaging with the right financial advisor.
How to Build a Plan in Lasso
Lasso offers a quick, easy-to-use interface that doesn’t require any financial know-how and puts you in the driver’s seat as you build plans for your financial goals and find the professional help you need to make them successful.
At the core of the platform is our belief in a goals-based approach to planning. You can read more about that here.
Lasso allows you to get started on your financial planning journey quickly, with an easy profile-building process to start. Where many financial apps require that you link to multiple accounts before you do anything, Lasso let’s you get right to work.
Once you’ve signed in to Lasso with a profile, it’s time to set some financial goals. How much wealth do you have now? How much do you want, by when? For what purpose? As you answer these questions in Lasso, your financial plan will start taking shape.
Lasso lets you choose one of five saving goals:
Then you’ll define your plan in five areas by answering five simple questions:
Goal: How much do you want to save?
Time: When do you want to save it by?
Savings: How much do you have now?
Contributions: How much can you save every year?
Portfolio: How much risk are you comfortable taking?
After you’ve answered those five questions, Lasso will show you your plan.
Here’s where another of Lasso’s unique features comes into play: If you’re not on track to hit your goals, you can play around with your inputs to see how they would impact your plan.
All told, you can have a complete financial plan within five minutes after clicking “Download” in the App Store.
Now it’s time to see how a professional could help make your plan better.
How to Connect with an Advisor
Once you have a plan, you can browse a community of financial advisors and share that plan with as many advisors as you’d like for ideas on how it could be improved. With Lasso, you can easily test drive a financial advisor by sharing that plan to seeing how they might be able to help improve it, without having to sign or pay anything.
You can share your plan with an advisor you already know, or browse the Lasso community for an advisor who matches your style. You can filter them by gender, experience, location and specialty to make sure you find an advisor you’re comfortable with.
After you share your plan, you wait for the advisor to respond with a proposal, which will show how they would improve your plan if you worked with them. When you get back proposals, you can decide whether or not there is a conversation worth pursuing.
Your Goals are Waiting for You
People who build a plan to reach their savings goals are 10x more likely to accomplish them. The sooner you get started, the more you can save and the sooner you can be finished.
Ready to get started? Click here to download Lasso now