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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.