MyWealth Portal Tutorials : Personal Information and Goals

Good day, welcome to the first video in this tutorial series around organizing and setting up and becoming familiar with your new MyWealth Portal and then organizing your Money SMARTS system on it.

What I thought was producing these short tutorial videos to help you understand how you can use the MyWealth Portal to implement your Money SMARTS System more efficiently. So, let’s get started!

(Note: Click here to log in to MyWealth Portal)

I’ve obviously prepared some information earlier and when you arrive on your own portal, you’ll see very, very little information because we don’t have the data already loaded in. But what I’m going to do is jump in and have a look at the screen and we can start to see what’s going on. So we’ve got the dashboard here, that’s what I was talking to you before. And we can see a nice little summary of household income. We can see the tax payable for that hassled. We’ve got the annual surplus, they’ve got the total savings, and we’ve also got the property equity available. You can say a couple of sundial graphs, sort of show a breakdown of that information as we move down.

We’re always interested in terms of growth, monthly gross monthly income, so that money in total asset value, and then total expenses. We’ve got a little summary of your property. And if you’ve got any loan splits or information attached to that, um, we’ve got the value of that property. If you’ve got a series of properties, you can also load them in. I’ll show you that in the one of the other tutorial videos under the asset section. Um, and then you’ve got a little nice little summary here in terms of how that’s documented in a table format. Some people like table, some people like chat. So we’ve got a combination of those two things and you can get down to the bottom where you can say both the monthly and yearly. Now again, no editing on the dashboard. Uh, this is information that is gathered through inputting information throughout the pool.

So in this first tutorial video, I just wanted to get comfortable with navigation. You can see down the side here we’ve got Money SMARTS, Money FIT, Personal Information, My Goals, Income, Assets, Properties and Other Assets, Expenditure, Bills and Spending, any Borrowings you have, any Future Plans you’re looking at and then some other information for Plans and Reports that some of our clients have been doing. No need to worry about those things for now.

In this first video, I also wanted to highlight just the most important things around Personal Information and why we’re trying to gather that from you. We can see this is Daniel Example, 35 years of age. You don’t have to put all of this information in, but if there is information that is missing by way of example, if I was to take out that information here and delete that and hit save, you will see what’s going on is that we might get an error when I come out of there and go back in.

You’ll see this thing still requires some additional information. And you can see the error. It’s saying where are the required fields in the Personal Information section. So you don’t have to worry about all of these reminders that you’re getting. You can dismiss them. No problem at all just by clicking on the red button. But again, the more information we get, the more insights that we’re able to share with you. And that also then leads me to, I’ll just put the date back in here in terms of when they were born… 1985. We’ll put that in, click on that and there we go. And always make sure you save the information and you can see that saved turning blue when you do that. Now couple of things I want to pour down here in terms of this tutorial.

Your household composition for Money FIT, is going to be made up of the information is stored in here. So we can see… We’ve got the primary contact, where they live and then in this particular case, we’ve got their partner’s name, Rebecca, the wife. You can also see that they’ve got a couple of dependants in regards to the children and you’ve got Amelia and Rory. If you want to add more of dependants, you can simply click on the add button. And if you want to delete those dependants, you simply click on that button. You see how that works. And you can get familiar with that. Now again, we don’t need all this information because this is also the working portal of Empower Wealth. You will see that a lot of this information is stored for lots of our clients and that’s why we ask for that information.

But again, you don’t need to do that. (The Money SMARTS section) It’s free to use and just for you in terms of how you want to set it up. This tutorial was about Personal Information and understanding that household composition. And also the other thing I wanted to focus in on in this tutorial is your goals. We do ask, how did you find out about us in this particular case… We had a referral from friends and family. Brad Buckley, was their referral. And so depending on which of those things that you said you found out about us, we can obviously get that information there, which helps us understand how we can help more people. Now it also says here again, reason for our meeting. Well, we’re not meeting if you’re just using this to implement your Money SMARTS. Again, this is a section and a working portal for the thousands of clients that we do look after.

So, you don’t have to put any information in here. But obviously for this particular couple, they wanted to start an investment portfolio and get started around building that out and other things. But I do want you to focus in on these things in terms of future life and financial goals, what I call the big rock in the jar. And getting a sense of what these things are is also potentially going to help us with some of the future insights that we share with you around how you might be able to get to those milestones that you’re looking for. It’s optional. If you want to complete it, you can. Also what money means to you in terms of getting an understanding of your drivers and your core values around what money can do for you.

Because at the end of the day, money will not give you the happiness. It’s effectively how you put that to work and the memories that you create from that. But there is one feature inside here that I do want you to have a look at because it also goes back about behavior. And that’s taking this little quiz for you and your partner or if you’re a single person. That’ll get you to give you a little score and some insights in terms of, you know, judging yourself around how you organise and manage your money because it’s those incremental habits that we want to change. And those incremental improvements that will ensure that you develop the right type of habits to trap more surplus and then, you know, put that money to work, whether it’s paying down debt or building wealth.

So have a little play around in the My Goal section and that’s the introduction to the actual portal from Personal Information and My Goals. In the next tutorials we’re going to explore Income and Assets. And then after that we’re going to explore Expenses and Borrowings.

Stay tuned for the next tutorial.

Tutorial Videos in this Series:

• Personal Information & Goals : Watch here
• Incomes & Assets : Watch here
• Expenses & Borrowings : Watch here
• Money SMARTS : Watch here
• Money FIT : Watch here

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