Finance — 2 years ago

Best Retirement Apps for Retirement Planning!

by Rob V.

Best Retirement Apps, Retirement Apps, Apps for Retirement

These are some of the Best Retirement Apps You Should Know about: 

Planning for the future is an essential part of life. Retirement planning is a process of determining income and lifestyle goals and saving accordingly. Almost half of the American employees do not have employer-sponsored retirement accounts. Most people depend on Social security for a basic savings account. It is better to take control of your own savings for retirement and luckily, we live in an age of technology. There are apps available at our fingertips to help us save and retire stress-free.

Here are some of the best retirement apps available online:

1. RetirePlan

It is an app available on iOS. It provides all the details you require according to the retirement plan you choose. It will give you information like when you can retire, how much you would need to put away each month into your savings and options to increase savings. It costs 4.99 pounds. The app has features like sliders for you to easily change a value to see different outcomes.

retire plan app

2. Vanguard Retirement Nest Egg Calculator

It is a fantastic app that gives you an overview of your retirement investment portfolio and which options would suit it best. It uses six values, the validity of your portfolio, your portfolio's current balance, yearly expense from the portfolio and the percentage of investment in stocks, bonds and cash. Then it uses a Monte Carlo simulator that runs through historical stock market information to calculate the number of returns you will receive and how long would the money last if you choose to invest.

3. AARP Retirement Calculator.

It is a useful app for anyone who is working and currently planning to retire, developed for single people, married couples and domestic partners. AARP Retirement Calculator intends to provide information about how much money people need to put aside by posing a series of questions. People answer a range of questions about their household status, age, current salary, lifestyle and current retirement savings account. Then, it takes all this information and gives you an analysis of whether they are on track or behind and suggests better plans. It is available as a free online app.

AARP Retirement calculator

4. Digit

It is a personal finance app that makes small automatic transfers from your bank account to your retirement account every month. Digit collects $10-$30 from your checking account, 2-3 times a week and the money goes directly into your savings account. You will receive daily messages that track your savings account and shows you the balance, which helps you plan your retirement savings better.

5. iFinance

It is an app designed for iPad, iPhone and iPods Touch. You can provide information regarding your current financial situation and it will provide you with an accurate picture of your retirement situation. It calculates the compound interest on your savings and investments to help you plan your retirement.

ifinance app

6. iMaximize Social Security

It is a calculator developed to help anyone who has almost retired or is going to retire. By determining the best strategy to maximize on Social Security benefits. The app provides a list of applicable filing strategies, a graph of gross lifetime benefits from top strategies and suggested strategies based on the person's information. It uses a proprietary calculation model to provide these results. The basic version of this app is free, but if you want additional features, it costs $9.99/-

7. LearnVest

It provides personalized financial plans and tracks your cash flow to determine whether you are on track with your retirement savings plan. The app has a team of Certified Financial Planners who are available 24/7 to ensure you achieve your retirement goals with proper planning.

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