A What-If scenario is a copy of your plan that can be manipulated to show different situations. In WizeFi, we call these What-If scenarios drafts.
When would I use a draft What-If scenario?
These scenarios are very helpful when you want to see how different situations will effect your financial freedom projections.
Example: What if I wanted to see how taking on a mortgage will impact my ability to reach financial freedom?
Coaches can also create drafts to illustrate certain situations to clients or prospects without showing their personal financial information. When you create a draft, you can delete all of your accounts and add manual accounts to show certain scenarios to clients.
How do I create a draft?
To create a What-If scenario, log into your WizeFi account and click on "Edit Current Plan"
On the new window, click on "Create New Draft"
Name your new draft. For example, you could put the address of the new house you want to consider.
Once you click Create Draft, you'll be brought to the same Edit Plan screen that you would see if you were editing your current plan. This is a copy of your current plan that you can manipulate however you want without impacting your current plan. You can tell this is a draft by the text on the upper left.
Now, you can manipulate this draft however you'd like. You can delete accounts, add manual accounts, change your goals, income, budget, 4-step plan, etc. All of the changes will not be applied to your current plan UNLESS you click the Promote Draft button.
If you want to save your changes to the draft, you can click on the "Save and Exit" button.
You can also view your draft projections by clicking on "Review Projections"
When you see projections, you have the option to Promote Draft or Save as Draft
Promoting a draft will make this draft your current plan. If you added a mortgage, WizeFi will assume you want to start paying that mortgage immediately. You should only promote a draft if you're sure that you want to start following that plan.
Saving as a draft will keep this What-If scenario, so you can come back to it later.
For now, let's click Save as Draft. You should be brought back to the Plan page. Click on "Edit Current Plan" to view your new draft.
You should now see your new draft on this list.
You can edit, rename, or delete this draft by clicking on the three dots.
Congratulations! You've just created a draft What-If scenario.