Frequently Asked Questions (FAQs)

No. You do not need to connect your financial accounts to WealthyGen. All you have to do is enter the account name and current balance. As you begin to enter your transactions, your account balances will update. To add your accounts, simply tap on the plus sign (+) on the home screen and select “Add Accounts”, or “Add Liability”.

For support, send an email to appsupport@wealthygen.org. Our support Team will respond to your inquiries within 24-48 hours.

Simply add your month/year of birth from the Profile; then add your country and average monthly income from the Account Settings. Your Target Net Worth will display once these fields are completed.

Your Target Net Worth is your benchmark. Net Worth values are relative, and the meaning can vary depending on your age, your current income, and your lifestyle. Target Net worth is important because it provides a guideline, a kind of “target” value to compare your net worth with, aim for, and/or exceed.

Assumptions behind the Target Net Worth Amount:

1. Typically, people graduate from college at the age of 22. At this age, you are basically breaking even, and your net worth will likely be zero. Before age 22, you are typically dependent as a college student, earning little to no income. However, you will begin to earn some substantive amount of money after age 22.
2. The recommended savings rate is at least 20% of your income.
3. As recommended, it is assumed that you put your savings into a savings account or into investment vehicles that yield returns.
4. Most people typically save a percentage of their income every month rather than wait till the end of the year.

To see your Target Net Worth, add your Average Monthly Income from Account Settings, Month, and Year of Birth from the Profile Settings.

Note: Target Net Worth is just a target number aimed to provide guidance. Your specific situation may vary.

Simply enter the interest rate you want to use under the “Preferred Interest Rate” section of the Account Settings, and the app will use your preferred rate.

Your country is needed so that you can use WealthyGen in the currency of your choice. Also, when you provide your country, WealthyGen will use the default interest rate for your country to calculate your Target Net Worth. To update your country, simply go to Account settings, select your country, and update.

WealthyGen only asks for your Month and Year of birth. The actual day is not needed. The app uses your month and year of birth to calculate your Target Net Worth. The calculation is based on assumption that people typically graduate from college and start earning money actively after the age of 22. The Target Net Worth shows how much your Net Worth should be if you were saving the recommended 20% of your income, compounded at the default interest rate for your country (or your preferred rate), for the number of years you have worked (calculated using your month and year of birth and the 22-year assumption).