Worried about your retirement nest egg? It’s now easier to budget and invest wisely from your phone or home computer using the market’s top retirement planning software.
To help you get started, we have chosen our top 5 best retirement planning apps available to download.
Our Top 5 Retirement Planning Software Picks
Personal Capital Retirement Planner
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Wealthfront Robo Advisor
Wealthfront is a leading robo-advisor tool. It runs an automated investment service that can guide you through all stages of investment, with its minimum spend of $500, it is open to a wide range of investors.
While it is an excellent app for those starting out, it also has tailored investment plans for those who want a higher return on large capital investments.
As long as you fund your portfolio, the app will manage all your investments. The risk level is based on the information you input when signing up, and is periodically reviewed. It will spread your investment out over bonds, real estate, and natural resources.
If you would like socially responsible investments, the app will allow you to choose which stock you want to be excluded from your portfolio. A high-interest savings account option has recently been added to this free financial planning app.
Wealthfront is available on iOS and Android.
Vanguard Retirement Funds
Not all online retirement planning software is created equal. Though Vanguard may be lagging behind in web and app design, it has a respected reputation in the field of retirement long term investment funds. Like Personal Capital, it also uses the ‘Monte Carlo’ analysis.
It allows you to set up ‘Target Date Retirement Funds’ and taxable accounts, along with other retirement-focused options. The Retirement Income Calculator is an additional tool that allows you to plan your projected living expenses in retirement. This can include plans for travel and other lifestyle changes.
We particularly like the ease of use of the ‘Nest Egg Calculator’; this can give you a long-term projection with minimum information. You can use the calculator for free on the website, and it will undoubtedly get you thinking about your retirement goals before you commit to an investment.
Vanguard is available on iOS and Android.
Betterment Robo Advisor
Betterment is a robo-advisor market leader in online retirement planning software. It uses goal-orientated tools that are ideal for keeping up your commitment to your retirement fund.
Its Retirement Calculator is user friendly, and the app is easily navigated.
Betterment is popular with low to mid-level investors and has a $0 sign up for Betterment Digital with fees set at 0.25%. Like other robo-advisors, you can link your bank accounts to the Cash Reserve to ensure your money is working for you and your retirement fund.
Betterment is available on iOS and Android.
Mint Tracker & Planner
Mint is popular on the app market as a budgeting tool, but it is also worthwhile checking out their investment projection tips. With the easy to navigate app, Mint’s online retirement planning software allows you to compare investments across a broad range of funds included 401(k) funds.
You can also link your bank account and credit card to the app to create a one-stop-shop for all your finances.
If you are mid-career, this is a good option to track where you may be overspending and take stock of what you need to invest in your retirement plan to grow that nest egg. Investing can be a daunting process; Mint will give you useful tips to help you navigate the financial market.
Mint is available on iOS and Android.
The benefit of online retirement planning software tools is that they do the hard work for you. When it comes to investments, they will cast a vast net across the financial markets with reasonable fees.
You can start by trying the free online retirement calculators. Then choose an app that can also help you track your day to day spending, from your morning coffee to the weekly groceries, helping you manage your cash flow. It’s never too early to think about your retirement fund.
The good news is that online retirement planning software tools are a highly competitive market, which means you can benefit from lots of free perks. It is also worth noting that many of these companies are now adding free checking accounts and high return cash savings accounts to increase your long-term savings and invest in your retirement fund.