Review of Free Retirement Planning Tools
U.S. News & World Report featured a review of five free retirement planning tools that can be found online.
The review includes retirement planning software from:
The general conclusion is that the tools do "an inconsitent and poor job," often ignoring critical factors such as longevity risk, inflation and medical expenses.
Source: U.S. News & World Report
Anonymous wrote on Fri, 11/13/2009 - 14:54:
what is the best way to get info on this if these tools are unreliable? i have been using calculators for retirement planning purposes and without them have no reality check.
tom wrote on Fri, 11/13/2009 - 15:40:
Are you a financial advisor or consumer?
The tools referenced and reviewed in this article are free and are provided by relatively reputable sources. That said, the downsides or limitations of the tools are discussed in the article.
If you are an advisor, there are many paid options to choose from and would be happy to point you in the direction of a couple (example: esplanner or Qwema's tools).
Anonymous wrote on Thu, 11/19/2009 - 14:36:
I am not a financial advisor.
I am interested in tools I might be able to use on my own.
Thanks.
tom wrote on Thu, 11/19/2009 - 14:39:
Start the whole process with a good financial planning tool.
Consider the following resources:
http://www.esplanner.com/ourusers/esplanner-for-individuals
The following are free:
http://www.analyzenow.com/Free%20Programs/free_programs.htm