I have used Pralana Gold and currently do plans for two of my children. I purchased the Pralana Platinum but now I realize that I may need to Pro version to continue to do plans for my two children. Am I correct?
@golich428 I think you mean you bought Pralana Online? I'm not familiar with Platinum.
But in that case, I believe yes, it's a consumer financial planning tool that's intended to be used to build a plan for your immediate family/household. I'm sure previously some folks created plans for adult family members, etc but that probably wasn't an intended "feature" of the Excel version.
The good news is it's incredibly inexpensive and one of only two high-fidelity consumer-available financial planning tools. The others don't allow for friends/family either.
@hines202 Thanks for the quick reply. In the documentation, it is referenced as Platinum and Platinum Pro both online. I agree the price is not the concern. I think I just purchased the wrong one if my children still want me to do their plans. Because of their young ages, they were pretty simple but it gave them an idea of what is important in the accumulation phase. I don't think they need updated every year so I will just wait and let the dust settle before purchasing the Pro version. I just did not want to screw up my plan data by importing the data from the kids plans.
FYI, I checked my excel version to the online version and everything looks real good. I think I will like the online version but I grew up in excel, so it is something I was very comfortable with.
Also, good luck with your book. I think it will likely be a great asset to the Pralana community.
@golich428 you got them started so it would make a wonderful birthday or holiday gift! Thanks for the well wishes on the book. I'm enjoying the writing and digging into the nuances of the new tool.
@golich428 Hi Greg, yes, the tool is sold as Platinum and Platinum Pro versions, the latter of which supports up to 25 plans. The basis version supports only one plan. If you would like to switch to the Pro version, I'll be happy to cancel your Platinum subscription; however, I'd like to wait until we resume sales if that's okay with you. That could be a few weeks away.
Stuart
@smatthews51 As an unmarried couple, I run 3 versions of the spreadsheet, 1 for each of us and 1 together, with each having 3 scenarios. Are you saying that I can no longer do that with the online version, Unless I purchase additional licenses? Will you still be supporting the excel version and creating new spreadsheet releases every year, so I can stick with that?
@rpmcfadden1 As long as the names of "you" and "spouse" are the same in each case, you will be able to save plans to your computer and then restore them in Pralana Online. That capability is not there today but it will be when we open it up again for new sales.
And, yes, we intend to continue supporting and creating new spreadsheet releases every year, but new features will not be added.
Stuart
@smatthews51 Hi, is saving different versions available yet. I looked at Manage Data (backup and restore), but that does not really allow it. Thanks
@rpmcfadden1 Yes, it is available and the Manage My Data (backup and restore) is how you do it. I just tested it and it appears to be working fine. After downloading the first plan, you have to rename the downloaded backup file and then refer to it by that new name when you want to restore it.
Stuart
@smatthews51 Hi Stuart, yes I see where I can rename the files and save three versions (2 singles and 1 married) by renaming them with a file manager program, after backing up, and then reopen them, but only one at a time. With the spreadsheet version I could have 3 versions up at once and compare analyses. 1) Is there a way to have more than one instance of OnLine open at once so I don't need to backup and restore 3 times, again and again, as I tweak numbers? 1a) I guess I can pdf reports and compare most of the numbers I need to, just have to do a lot of backup and restoring to make any changes. 2) Is there any plan to allow the Single/Married to toggle for individual scenarios (and assign income and expenses per person) so that I could have my needed Single/Single/Married scenarios on one OnLine instance, to address the needs of Unmarried couples and Married Filing separately couples, and those trying to model a marriage or divorce in the future? 3) If you do not add new features to the spreadsheet version, will you have a list showing what is added to on-line and not available on the spreadsheet, if I need to stick with the old spreadsheet, so that I can track if I am missing anything important to this situation? Thanks in advance.
@rpmcfadden1 No, only one instance at a time. Yes, we will maintain and publish a list of differences between the tools as they diverge.
Stuart
@smatthews51 Thanks for the offer. I will wait for now and when it is time to renew next year I can cross that bridge. I still have the excel version for 2024. FYI, I really like the online version after testing it for awhile - great product - I will recommend even more than I have in the past because there are those that fear excel.
