Which is the best retirement tool to project numbers? Such as input current 401 balance, max out contributions for x years, estimate X% growth for X years, show me withdrawal amount if using 5% wd rate and what is that in todays dollars.
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Tecmo
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7 replies
Replies (7)
snarang001
10 months ago
I have only used and found the Boldin tool very clunky and slow in updating feeds from other linked accounts. Is Projectionlab better? By better does it compare to the updates by Monarch? Thanks
MWDunaway
10 months ago
I guest-lecture about personal finance at several universities and high schools. When I talk to 20-somethings about Freedom Fund planning, I use this website/calculator. It is relatively simple, but has the key factors that lets people play around with different FI dates, saving rates, rates of return, jhow much income in retirement, etc. Great for decision-making when someone gets a raise, want so consider different investment strategies in retirement, etc. The graph is nice as it shows how much money you have left at a certain age. I like to plan to have a little left at age 100.
And, it does not require a person to know their annual expenses at retirement. It is focused on what % of final working income a person wants in retirement.
JoeQ17
10 months ago
Empower works for me and is free. Ties to actual account balances over time and allows for making retirement spend, big purchases, SS, and all other life events.
Lunkerproof
11 months ago
I used both but now am sticking to ProjectionLab. The power of visualization in financial planning is just SO CRITICAL and ProjectionLab just nailed it.
BostonFI
1 year ago
Boldin, which used to be called New Retirement, is often recommended in this group. I used New Retirement for a while but decided I prefer Projection Lab. Both are good tools though.
projectionlab.com
www.boldin.com
Projection Lab has several walkthrough videos on YouTube to give you an idea of what they offer. New Retirement used to also have walkthrough videos on YouTube but I'm not seeing them on the new Boldin channel.
https://www.youtube.com/@projectionlab
Rabebm
1 year ago
Projectionlab works great for me. Listen to the interview brad did with the founder. Many options and not huge learning curve.
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