Best Online Tools for Planning Your Retirement

September 12, 2019

Planning for retirement is not an easy or fun task for any individual. Getting the required corpus is a challenge that few can meet successfully. There has been a recent trend of increasing inflation, fewer pension plans, uncertainty regarding Social Security, and various other economic uncertainties. Due to that, there has been an increased need for retirement planning to be more precise and accurate. You need to make your money work and generate a solid income for you.

A major aid in helping you achieve the aim has come in the form of free online retirement planning software, also popularly called as financial planning software. They can get you rolling on the path of financial security. Below is a list of a few of these tools and software that can help you reach your retirement goal comfortably.

Vanguard Retirement Center

This free online software provides you three calculators for more precise planning. The first calculator is for people with more than ten years to retirement i.e., till the age of 50. The second is meant for people near the retirement age that is from 50-65 years. The third is meant for people who have already retired.

You can find various valuable tips given to maximize your savings in an easy-to-understand language. It has valuable other tools and vital information about the various assets, savings, and distribution allocation that helps you maximize your returns.

Optimal Retirement Planner

It’s one of the most robust retirement planning software available online. Unlike most other software that considers your plan’s final surplus/deficit, this software considers your plan’s maximum and annual disposable income along with consideration of your taxes and other variables.

This helps you plan your taxes most efficiently and lets your retirement corpus grows to an optimum amount. In comparison to other tools, this software asks for more detailed inputs and is best recommended for those nearing the retirement age.


This free online tool is best for long term financial planning. It asks for plenty of detailed income like your current income, expenses, etc. Based on the inputs, it helps you set a budget for expenses, set savings goals and even adjust your financial planning to life-changing incidents like getting married, having children, change of job, temporary unemployment, etc.

Its basic version is free to use, but it does not save any data. You can reap its maximum benefits by subscribing to any of its plans and upgraded tools.

TD Ameritrade WealthRuler

It is another excellent retirement planning software that uses your income, planned expenses as well as your retirement age to generate ‘achievable goal planning’ chart. It not only highlights your monthly savings requirement but also gives you valuable tips on the avenues available to achieve it. The best part of the software is its ability to personalize the solution, which is adjusted to your current situation. It helps you get clear on the course you need to take at every point.

Personal Capital

It’s one of the most raved about portfolio management software that is free to use. It helps you manage your money in the best possible way. It requires you to create an account with it and sync all your investment accounts to it.

Taking your personal data and information from all your accounts; it gives you a detailed analysis of your finances and its planning. Its unique feature is the asset allocation feature which gives you a clear picture of how you have invested in different financial instruments.

Finally taking your age and risk-taking ability into consideration; it guides you the changes that need to be made in your way of investing to maximize your returns. Moreover, the site uses military-grade security to protect your data which can only add to your peaceful mind. It is a tool worth checking out.

Wrapping up

Apart from the above-mentioned tools; there are several other reputable and credible retirement planning software available like the Social Security Administration Retirement Planner; Fidelity Retirement Planning, AARP Retirement Guide; Plan Well, Retire Well; Goal Calculator, etc. You can simply check them online, read the information given there, and choose the best tool that works for you, and help you build the required retirement corpus.

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