Online Retirement Planner – 6 Retirement Calculators

April 3, 2025

Online Retirement Planner

Whether you’re saving for retirement or trying to determine how much of your pre-tax income you might need in retirement, these six tools will help. They each require you to answer a few questions and provide a score based on your answers. They also allow you to run “what-if” scenarios.

Empower: Online Retirement Planner tool is free and enables you to connect your 401(k), IRA and investment accounts to analyze your savings, net worth and spending habits. It also runs your plan through a Monte Carlo simulation and tells you how likely it is to be successful.

How Exponent’s Portfolio Managers Guide You to Smart Investments in Canada

New Retirement: This highly sophisticated tool enables you to model just about every aspect of retirement, including social security claiming strategies, medicare coverage and annuities. It also allows you to link your investment and retirement accounts or enter them manually. It has a free version and a premium version that costs $10/month billed annually after a 15-day trial.

ProjectionLab: This tool has one of the best charts and graphs of any retirement calculator and it’s user interface is simple to navigate. It provides you with a personalized plan for retirement and the ability to test various scenarios such as increasing your inflation rate or retiring at a different age. Its free version has a limited number of features and you can upgrade to the Premium version for $109/year or $799 for a lifetime subscription (code RBERGER-10 gets you 10% off).

While retirement planning calculators are helpful they are only as good as the assumptions fed into them. That’s why it’s important to work with a financial planner who specializes in retirement.