MoneyGuide, Inc. (“MG”), the developer of myMoneyGuide® and moneyguidepro.com, is committed to protecting your privacy and ensuring the security of your information on our website.
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Our Privacy Policy has three key elements.
- You were granted access to moneyguidepro.com by a financial advisor. This financial advisor and, if applicable, the firm with whom they are licensed, also has access to your personal information on moneyguidepro.com. Your advisor uses your personal information, in conjunction with our software, to provide customized financial planning reports for you. Your advisor’s use of your data is governed by their firm’s privacy policy. Please contact your financial advisor if you have questions about their firm’s privacy policy.
- Your financial advisor can authorize MG to allow the exchange of data between moneyguidepro.com and other programs or websites that your advisor uses in their business, and your personal information can be included in these data exchanges. Except for data exchanges that have been authorized by your advisor, MG does not disclose or share your personal information with any third party, unless required by law to do so (for example, to comply with a subpoena).
- We use transport layer security (TLS) encryption, which is the industry standard for secure data transfer software, to ensure data you transmit through the Internet is protected against unauthorized access.
What Personal Information Do We Collect and How Do We Use It?
When you register, we will ask you for your name, email address, and contact information, and you will be asked to select a password. You may also be asked to select a user name.
We use your name to personalize your reports generated by the system. We use your email address to confirm your subscription, user name and password, and to provide customer service. As a registered user, when you select the option to create or access your financial plans, we will recognize you by your user name and password (or e-mail address, as applicable). We may also use the contact information we collect to notify you about any new functions included in our software or new services offered by our website.
What Financial Information Do We Collect and How Do We Use It?
To use our software, you or your financial advisor must input personal financial data for you and, if applicable, your co-client. The personal financial data required may include annual income, current values of and annual additions to investment assets, anticipated retirement expenses, and expected values of future assets such as lump sum distributions from pensions or inheritances. In many instances, these entries are optional. This personal financial information will be used by your financial advisor, in conjunction with our software, to develop financial, asset allocation, and income plan(s) or analyses for you.
“Cookies”
“Cookies” are small files used by websites to store information on your computer. For moneyguidepro.com to work properly, your browser must be enabled to accept cookies. Our cookies contain information that identifies you during a session and allows the software to function. This information is not for sale or distribution.
How Do We Protect Your Information?
When you access your financial data, we use a state-of-the-art secure server to keep all your personal information as secure as possible. The transport layer security (TLS) encrypts all information you input before it is sent to us, and all data we collect is protected against unauthorized access. This approach helps ensure that your personal and financial information remains safe and private.
Your Consent
By using our website, you consent to the collection and use of the information described above by moneyguidepro.com. Should we make any changes to our privacy policy, we will post those changes on this page, and your continued use of our website is your consent to those changes.
You also acknowledge that MG may aggregate data from its users and subscribers for the purpose of better understanding its user base and/or to research potential changes in content and services. MG may use this collective information for product research or marketing demographics, but we do not disclose, sell, or distribute any information to a third party where such information could indicate directly or indirectly any individual’s financial information.
If you’re looking for ways to track your savings and financially map out your retirement years, there are many digital options available. However, not all retirement planning tools and software are easy to follow. “There are many different types of calculators, including ones designed specifically for retirement planning, but often the learning curve to be able to use these can be long and tedious,” says Lamar Brabham, CEO and founder of Noel Taylor Agency, a financial services firm in North Myrtle Beach, South Carolina. Some retirement planning software has hefty initial costs or ongoing subscription fees.
However, there are some retirement planning tools that may align with your needs and budget. “There are affordable, user friendly and effective options for the average person trying to get a grip on their finances,” Brabham says.
The best retirement planning tools and software include:
- Betterment Retirement Savings Calculator.
- Charles Schwab Retirement Calculator.
- Chris Hogan’s Retire Inspired Quotient Tool.
- Fidelity Retirement Score.
- Personal Capital Retirement Planner.
- Stash Retirement Calculator.
- The Complete Retirement Planner.
Here is a breakdown of these options, along with information regarding their cost and top features.
Betterment Retirement Savings Calculator
Betterment has a free calculator based on just four questions. You will be asked to enter information about your age, annual household income before taxes, the amount you’ve already saved for retirement and how much your household sets aside for retirement every year. The calculator then shows your projected annual spending in retirement. You can see how much you could potentially spend each year based on your investments and Social Security income. The calculator shows both likely and conservative scenarios for your spending each year in retirement.
Charles Schwab Retirement Calculator
Charles Schwab offers a free retirement savings calculator that will tell you if you are saving enough to cover your estimated annual retirement expenses. The calculator collects information from you, including your current age, planned retirement age and investment style. You also enter your current income, amount saved for retirement and monthly savings. The calculator asks when you plan to start receiving Social Security benefits and how much you plan to spend each year in retirement. The tool then offers a summary of your current projected retirement savings, along with the savings needed. It offers suggestions on what to change, such as your retirement age or annual contributions, to meet your savings needs by the time you retire.
Chris Hogan’s Retire Inspired Quotient (R:IQ) Tool
You’ll be asked to describe your retirement dream with the R:IQ tool, which is free. You’ll also note your current income, how much you expect to need each month during retirement, how many years until you plan to retire and what you’ve saved so far. The R:IQ tool allows you to then assess what you can expect to have in retirement, based on your current investments. It also shows how much you will need to save to reach your retirement goals. The tool can be used to set savings goals for each month that will enable you to live out your retirement dream.
Fidelity Retirement Score
This free tool can be used to provide a quick assessment of your savings strategy. You answer six questions about your age, income, current saved amount, monthly savings, expected retirement lifestyle and your investment style. The tool will give you a score based on your responses. You can also see what happens to your score if you change certain factors like your monthly savings, standard of living in retirement or retirement age.
Personal Capital Retirement Planner
Personal Capital provides a free retirement planner tool. You’ll be asked to enter certain data and link your accounts to the planner so it can analyze your savings and spending habits. It will calculate your chances of having a portfolio that will support your retirement goals. Since your accounts are linked, you can track your progress toward meeting retirement goals over time. The planner also covers variables including taxes, inflation, Social Security and spousal retirement.
If you plan to make a big financial purchase in the near future, like buying a home or paying for college, you can see how that would impact your retirement goals. The tool also factors in significant income events, such as a windfall, inheritance or rental income. You can create different scenarios to see how making changes could impact your retirement finances.
Stash Retirement Calculator
With the free retirement calculator at Stash, you can fill in the blanks to note how old you are, when you plan to retire, how much you earn each year before taxes, how much you’ve saved and what you’re currently putting toward retirement every month. Based on this information, the tool shows you how much money you can expect to have in retirement and how much you are likely to need. These two figures are displayed graphically to contrast the amount you’re on track to have with the amount that Stash advises you accumulate based on your entered data. The calculator also includes an analysis of your current savings strategy and resources to learn more about your retirement financial needs.
Best Canadian Retirement Planning Software
The Complete Retirement Planner
At $79.99, this planner allows you to create a customized and detailed financial plan for both before and after retirement. If you’re married, it allows annual amounts to be entered for each spouse in different categories, including multiple income sources, traditional 401(k) and IRA contributions, investment return rates and Social Security income.
TCRP is a digital download and remains with you, allowing you to enter personal information without having sensitive financial data stored in an outside source. There are integrated notes on complex topics like Medicare costs, Social Security benefits and common tax laws. The planner comes with a built-in Social Security calculator and helps estimate health care costs in retirement.
Best Retirement Planning Software For Financial Planners
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