How Do I Choose the Best Retirement Software?

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  • Written By: M. Kayo
  • Edited By: Susan Barwick
  • Last Modified Date: 06 November 2018
  • Copyright Protected:
    Conjecture Corporation
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Choosing the best retirement software can help you map out a course to help guarantee a happy and financially secure retirement. There are a lot of retirement planning resources available that offer many different features, so consider a few things before making a final choice. Just like anything else that involves a lot of money and your financial security, do some homework and compare retirement software features before buying anything. There are retirement programs designed for just about any stage of life, from those just starting out to those who are already retired, so be sure to find the right one for your particular circumstances. The best software will help you to better understand your overall financial situation and to reach your projected retirement income goals.

There are some great and some not-so-great retirement software programs available. Finding one that best suits your needs can be a challenge, so start by doing some simple online research. Search for retirement planning software and record the details and features of each program individually. It may help to make a spreadsheet and to list the various features and functions for easy side-by-side comparison. Retirement software is not cheap, so be sure to set aside a good amount of time and to carefully research all the details before making a decision to buy.


Most all retirement software includes some type of retirement calculator that predicts the amount of income you will need in order to retire comfortably. There are also different retirement software programs for different stages of life. For example, some programs help those now working and currently planning for future retirement by providing updates on expenses, providing advice on selecting the right investments, helping to minimize taxes, and consolidating all your accounts into one place. Some software will be able to provide reverse mortgage simulations and to devise a number of "what if" scenarios. Other software is specifically designed for those people who have already retired, need tools to help predict income throughout retirement, and want a current estimation of financial status at any given time.

Regarding retirement investments, make sure that you have access to sound financial advice. Look for software that is offered by one of the major investment firms. Other important factors to consider when choosing retirement software include the ability to import and export data from any source and to plug it into your retirement spreadsheet simulation. This allows you to see your retirement plans and goals as a list of numbers, bar graph, or pie chart and can make sometimes complex figures easier to comprehend. Some employers will offer many types of highly-rated retirement software free to their employees, so be sure to check with your company's human resources department for all the details.



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