By Katherine Philip
Open iTunes to buy and download apps.
RetirePlan is an iPad app that helps you answer all your questions about your retirement. If you have questions about your retirement finances, this is the app to answer them.
When can I retire?
How much do I need to save every year?
How much money will I get every year in my retirement?
How long will my money hold out in my retirement?
In just a few seconds you can enter your data and assumptions and the graph will update to show you if your plan will work. If you have more time to spend you can enter as much detail as you want to refine your plan.
The sliders give you an easy way to see what different values will do to your plan. Need to enter a value outside the slider range? press the amount and a calculator will pop up to let you enter whatever number you need. The slider range will update automatically.
Bring up the spreadsheet to see all the details for every year of the plan.
Email your results.
Use the settings to add your spouse, include or remove Social Security, and show or hide inflation and interest rates.
Use the + button to add a pension, send a child to college, large upcoming expenses, add additional rates of return and retirement income assumptions.
include Tax assumptions to get an even more accurate picture of your future.
What's New in Version 1.14
fixed a bug in ios7 with adding new events. Thanks to Larry for letting me know!
Great App - Very Thorough
First things first, if you are looking for an app that takes into account as many variables as possible for retirement, this is the app! People interested in this app have probable used many other retirement calculators. However, it seems that other calculators each have a shortfall. For example, some won’t let you set the yearly increase in your savings rate (it might be fixed to inflation), while others simply don’t let you adjust other variables, such as retirement income, or rate of return. This app will let you do all of this and then some, as you can account for major purchases, pension income, college expenses, inheritances, one-time expenses and more.
Honestly, the only possible recommendation to improve the app is to include a way to include a standard deviation on the return. While it’s okay to assume an average rate of return, the truth is that the return will vary significantly from year to year. Therefore, it would be nice to be able to say, for example, an average rate of return of 6% with a standard deviation of 10%, This would be similar to Monte Carlo simulations that can be done on some retirement calculator websites.
Quick, easy, clear -- answers the question "Am I saving enough?"
RetirePlan rocks! This app let me get a meaningful picture of our retirement savings situation in just a few minutes. I then added more of the "what if" events to see their impact -- everything from changing how much we expect to spend later in retirement to simulated market crashes. Having played with this app, I can be confident we will be able to adjust should the unexpected occur.
Since that was so fast, I next created a "retirement plan" for our college savings, using the kids college start dates as "retirement." FTW!
Wow, the author is so responsive. She answers every email and updates the app with every iOS update so I never have to worry about this app. This app is more full featured than anything our there! I can imagine every possibility and then change things around to try some more. I frequently adjust my plan and use the other two free plans for my parents retirement! Every field is editable and gives immediate feedback when I use it to see what my retirement will look like.
- Category: Finance
- Updated: Dec 14, 2014
- Version: 1.14
- Size: 1.8 MB
- Language: English
- Seller: Katherine Philip
- © 2011 Katherine Philip
Compatibility: Requires iOS 6.0 or later. Compatible with iPad.
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