Retirement Planning Software

by Andy Hough on November 23, 2011

There are lots of free retirement calculators available on the web. These can be interesting but when you are planning for your retirement they are of limited use. They often give ballpark figures and point you to their company’s financial advisers.

Retirement planning software gives you the ability to make a more comprehensive plan. The WealthTrace retirement planner is a fully hosted, online retirement planning solution built for both financial advisers and individuals who want to create their own financial plan. Their calculator will tell you, based on your assumptions, when money will run out in retirement, what the shortfall will be, and what you can do to change the situation. All of this is done accurately, intuitively, and comprehensively. The software is available in different versions for financial advisers and individuals. This retirement planning application takes into account multiple investment types, changing tax laws, and any rules regarding social security and required minimum distributions. Also, because the software is hosted online, changes to laws and rules that may affect your retirement plan can be updated immediately.

This retirement planning software is not free but they do offer a free trial so you can try the product out before you are committed to purchasing. There is a lot more information about the retirement planning software available on the Wealthtrace site.

{ 1 comment }

Jeff November 29, 2011 at 9:06 pm

The downside with most of this software is that you either must tell the software your expected investment returns or they use a long-term average. Individuals are notoriously optimistic with such investment return estimates. Long-term averages fail to take into account the current secular bear market where historical returns tend to be near zero for extended periods.

Either case masks the need for older investors planning to retire in the next 1-10 years to think outside the box about their investments during such periods where traditional “buy and hold” strategies will not allow them to achieve their retirement goals.

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