Flexible Retirement Planner

[Dividend Watcher]

Just as I was retiring, I found several retirement planners that were much more capable than most you find on the web or at a brokerage site.

I did the trial on the NewRetirement planner prior to retiring and was impressed with the features and customization available. However, I was not enamored with the annual cost of using it and stopped using it. NewRetirement planner has now been renamed Boldin. 

One of the new ones I found was the Flexible Retirement Planner.

It offers many of the features of the Boldin software.

Some of the features are:

• Monte Carlo simulations
  
• Ability to change tax rates, sources of income and expenditures on a yearly basis
  
• Change the rate of return on your investments on a yearly basis
  
• Account for Roth conversions
  
• Calculate and save multiple scenarios
  
• Account for one-time large withdrawals such as buying a car or major remodeling project
  

The documentation is extensive and well laid out.

Best of all, it's free. I highly recommend it.

   

[crimsonghost747]

Looks handy. I'll definitely bookmark this and play around with it at some point when I find the time.

[Kerim]

Thanks -- I'm excited to check that out too! Have you heard about the "modern guardrails" approach? I wish there were a free (or cheap) piece of software that did that as well.

[Dividend Watcher]

Kerim, there are ways to simulate the guardrail strategy in the FRP. Read ALL the documentation. There's a lot but there are so many features that I can't bother listing them all here. There is a 'solver' function on the "Settings" page which can assist you with trying different scenarios. My only b*tch so far is the selection for investment style/returns. They all have fixed %S&P500/%Bonds/%International returns. You have to use the custom annual return option to choose something different. Minor issue in the grand scheme of things.

They also have a forum to discuss ways to use the program. Highly recommended you go through that also. Author is very active answering questions.

I've been fiddling with it off & on for 4 months and learn something new or better understand it every time.

Don't know what you mean by the "modern guardrails" approach but you might want to read this article while you're at it.