The Noel Whittaker Wealth Creator CD-ROM is designed to enable you to take control of your finances and is as simple to operate as a Fisher Price toy. It comprises three modules.
“The Educators” – The purpose of this module is to teach you basic financial principles. There are nine separate components and the material is present via graphics and by voiceover. They include Goal Setting, Understanding the Rule of 72, How Little Things Add Up, Understanding Risk, Compound Interest, How Loans Work, The Bottom Line, Dollar cost Averaging and Leverage. Another component illustrates the proven principle of dollar cost averaging. This section enables you to choose any starting month after January 1980 and enter a hypothetical monthly investment figure. All you have to do is enter any finishing month and it will calculate how much you would have had if your investment matched the All Ordinaries Accumulation Index. This model updates itself automatically every month so the information is always right up to date.
“The Calculators”. This is the section you are likely to use most. It contains six calculators for loans, saving, retirement planning, superannuation and retirement drawdowns. There is also a stock market module that is updated monthly – this calculator uses similar numbers to the dollar cost averaging section except that this calculator enables you to enter a single lump sum and find out what it would have grown to at any nominated date.
“The Recorders”. The key to financial success is budgeting and this module enables you to prepare a personal budget and asset and liability statement. The two statements work together. For example, when you enter your home on the asset and liability statement you will be asked to include ongoing costs such as rates, insurance and maintenance. These automatically appear on your budget when you start to work on it. Accurate information for insurance purposes is essential so there is also a section that enables you to list personal items such as furniture and appliances so you always have an up to date record for insurance purposes.
Important: This software does Not work on the latest Apple operating system e.g. Mac OS X 10.9.x (Mavericks)