Wimzee — Advice for what you should be doing with your money

Hey, it is not available in Russia, but your product pitch look very nice. Is it only suitable for US citizens and markets or some ideas and recommendations might be useful for everyone all over the world?

Hi Product Hunt 👋 Ready to level up from basic savings and budgets and move onto financial planning? Wimzee is a free iOS financial planning app that helps you figure out what you should be doing with your money. I am a millennial who worked as a professional investor with a background in quant finance. During the wild market swings in 2020, I was flooded with questions from friends who were nervous about their finances and needed advice. Ultimately, I decided to automate the framework into an iOS app, Wimzee. Wimzee provides financial planning tools and frameworks for you to optimize your finances • Free to use • No content paywalls • No hidden agendas or cold calls • No registrations required How does Wimzee work? 1. Enter some basic details about your finances. Get started with a quick 30 second questionnaire that provides us with all the key details needed to generate your financial plan. 2. Let our model generate your financial plan. Our powerful, institutional grade model instantly generates your financial plan and forecasts how your income, expenses and net worth will change over time. 3. Use our tools to help make smart financial decisions Set financial goals, run different scenarios and compare net worth outcomes. Visualize your risk by shocking your portfolio with a market crash or simulating a recession where you lose your source of income. 4. Get recommendations on what to do next Don't know what to do? We automatically iterate through financial best practices to assess how each change would impact your financial plan in order to recommend what you should be doing next with your money. 5. Make the plan your own Customize every assumption used in the model. Add forecasts for annual bonuses, new additions to the family or a new car. Change economic assumptions like the rate of inflation, tax rates or how you think markets will perform. --------------------------------------------- I am very actively working on the app, and while I have many ideas on what to do next, the most valuable idea is yours. This is my first iOS app as well, so please do forgive any bugs or hiccups you find along the way!

Frequently Asked Questions 1. Will Wimzee teach me how to get rich quick / direct me to the latest crypto investment / how to trade meme stocks? Wimzee is focused on long term financial planning and strategic asset allocation because I believe those results are repeatable and justifiable by underlying economic drivers. While there are significant advantages to timing markets or in security selection, I find that those trades are difficult to sustainably repeat and plan for over the course of years and decades. Wimzee does not currently make recommendations on market timing or security selection, but I am working on improving our framework so that if you believe you have an edge, you will have tools to implement it in a risk controlled manner. 2. Do I need to transfer my assets or provide account logins / passwords to Wimzee? No, Wimzee is advice only, does not take custody of assets and you maintain control of your accounts at all times. Wimzee sits at the nexus of your finances, analyzes your comprehensive situation and provides recommendations for you to execute. I’ve designed Wimzee to be easy to use without providing any personal account login details, allowing you to develop a full fledged model of your finances with just a few key inputs. To the extent you subscribe for our premium Wimzee+ product, you can provide account logins and passwords to help automate account balance refreshes through APIs, as opposed to manually maintaining them yourself. 3. How does Wimzee make money? Wimzee’s tools and frameworks are completely free to use, has no advertising or sponsors and does not monetize your data. I do offer a subscription product called Wimzee+ which currently provides API linkages to automatically refresh account balances in the financial plan for $2.99 per month (which is mainly used to offset the costs to offer the API), but it's not necessary to use the app. I also have future plans to continue developing the premium product which would include features such as tactical asset allocation, expense ratio optimization and tax loss harvesting. 4. How is Wimzee different from XYZ robo-advisor? Big picture, the key difference is that almost everyone wants control of your money (i.e. assets under management), as that's where the real money is in this industry. Wimzee does not seek custody over your assets, and instead sits in the middle of it all, analyzing your finances irrespective of who holds the assets, and provides objective advice for what you should be doing with your money. As a compromise, the ideal user should be someone with a DIY ethos who wants to be hands on with their money. If you don't want to be hands-on, a traditional roboadvisor or financial advisor might be better for you. 5. Where is Wimzee available? Currently, Wimzee is only in the US iOS app store, and is optimized only for iPhone. If you want it for Android or iPad, please do let me know!

Nice product, I would try it out! Hope it will be available for Russia any time soon 😄

OMG, I really need it :) Great idea, thank you, guys!