Best Retirement Planning Tools
Retirement planning used to require a $5,000-$10,000 financial advisor engagement. Today, DIY planning tools offer professional-grade Monte Carlo simulations, tax optimization modeling, and scenario analysis for a fraction of the cost. The best platforms let you test every "what-if" — early retirement, Roth conversions, relocation, market crashes — with mathematical rigor that rivals what advisors use internally.
TL;DR — Quick Answer
Our #1 pick: ProjectionLab → — Privacy-conscious DIY investors who want the deepest simulation engine without linking accounts. (Free → $129/yr). Also worth considering: Boldin and Empower Personal Dashboard.
Try ProjectionLab FreeAt a Glance — 3 Tools Compared
Rankings based on hands-on testing by the Velocity AI Insights editorial team. Factors include features, pricing, ease of use, and customer support. Last updated 2026-06-18.
ProjectionLab
Privacy-conscious DIY investors who want the deepest simulation engine without linking accounts
Free → $129/yr
10,000 Monte Carlo simulations + historical backtesting to 1871 — zero account linking
Quick Summary
Privacy-conscious DIY investors who want the deepest simulation engine without linking accounts
Detailed planners with complex financial situations who want 250+ planning variables and AI coaching
Empower Personal Dashboard
Investors who want free net worth tracking, investment fee analysis, and basic retirement projections
Why People Are Leaving Retirement Planning Tools
Retirement planning tools help individuals and financial advisors model retirement scenarios, optimize tax strategies, and build confidence in long-term financial plans through Monte Carlo simulations and scenario analysis.
Financial advisors charge $5,000-$10,000 for planning that software now handles
Simple calculators use single-point estimates instead of probability-based modeling
Most tools can't model complex scenarios like phased retirement or rental income
Account-linking requirements raise privacy concerns for security-conscious investors
Generic retirement age assumptions don't account for FIRE or early retirement goals
Quick Comparison
3 Best Retirement Planning Tools Alternatives — Detailed Reviews
1. ProjectionLab
Free → $129/yr
Best for: Privacy-conscious DIY investors who want the deepest simulation engine without linking accounts
ProjectionLab runs up to 10,000 Monte Carlo simulations and backtests your plan against actual market data since 1871 — including the Great Depression, stagflation, and 2008 crash. The privacy-first approach means zero account linking: no Plaid, no credentials shared. Compare Mode lets you evaluate major decisions side-by-side. The $1,199 Lifetime option eliminates recurring costs for a 30+ year planning horizon ($40/year amortized).
Key Advantage: 10,000 Monte Carlo simulations + historical backtesting to 1871 — zero account linking
Pros
Monte Carlo with 10,000 runs provides statistically robust retirement confidence levels
Historical backtesting against 150+ years of market data adds real-world validation
Privacy-first design — no bank account linking means your financial data stays private
Compare Mode is exceptional for evaluating different retirement timing scenarios
Cons
$129/yr Premium required to save plans — free tier is essentially a demo
Steep learning curve due to depth of available options and settings
$1,199 lifetime price is a significant upfront commitment
No account aggregation means manual data entry for all financial accounts
2. Boldin
Free → $144/yr
Best for: Detailed planners with complex financial situations who want 250+ planning variables and AI coaching
Boldin (formerly NewRetirement) offers the most comprehensive input model available — 250+ variables on PlannerPlus cover phased retirement, self-employment income, rental properties, complex pensions, ACA subsidies, and IRMAA calculations. Real-time account syncing via Plaid keeps balances current automatically. The AI-powered digital coach provides personalized suggestions. Live classes and Q&A sessions with financial experts add human guidance. For complex financial lives that don't fit into standard categories, Boldin's granularity is unmatched.
Key Advantage: 250+ planning variables + AI coaching + optional CFP review ($3,200)
Pros
Most affordable premium retirement planner at just $12/mo ($144/yr)
250+ data points provides advisor-level modeling depth for DIY users
Boldin AI assistant answers questions in plain language — no financial jargon needed
Free tier is genuinely useful with core projections and Social Security explorer
Cons
Free version uses conservative default assumptions that can skew projections pessimistically
Customizing inflation and rate-of-return assumptions requires the paid PlannerPlus tier
Not tailored for niche financial paths like medical professionals with high student loans
$3,200 advisor service is expensive for a single checkup
3. Empower Personal Dashboard
Free
Best for: Investors who want free net worth tracking, investment fee analysis, and basic retirement projections
Empower (formerly Personal Capital) is the best free retirement tracking tool available. Link all your financial accounts for automatic net worth monitoring, investment fee analysis, and asset allocation review. The built-in Retirement Planner uses Monte Carlo simulations to assess the probability of your savings lasting through retirement. While it lacks the depth of ProjectionLab or Boldin for detailed planning, it's an excellent free starting point and ongoing monitoring tool.
Key Advantage: Free forever — account aggregation + investment fee analysis + retirement Monte Carlo
Our Verdict
Best for complex situations: Boldin — if your financial life involves multiple income streams, real estate, phased retirement, or complex tax optimization, Boldin's 250+ variables capture nuances that simpler tools miss. The AI coaching bridges the gap between DIY and professional advice.
Best free option: Empower — every investor should use Empower's free dashboard for net worth tracking and fee analysis, regardless of which planning tool they use for detailed projections.
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Disclosure: Some links on this page are affiliate links. We may earn a small commission at no extra cost to you. Our ProjectionLab, Boldin review is independently written. This does not influence our ratings or recommendations. Learn more.