Best Retirement Planning Software in 2026: 8 Tools Compared

Boldin, formerly NewRetirement, is the most detailed DIY planner on this list. The free Basic plan covers core income, assets, Social Security, and a long range projection, while the paid PlannerPlus tier adds Monte Carlo simulations, up to ten scenarios with side by side comparison, and deeper tax, Social Security, and Medicare modelling. That depth matters when the question is not just whether you can retire, but when to claim, how to withdraw, and how to handle taxes year by year.

The depth is also the learning curve. A beginner who wants a quick readiness score may find Boldin more than they need, and the full modelling sits behind the paid tier. Boldin does not manage your assets, so you still need to implement its plan yourself. For someone within ten to fifteen years of retirement who wants to test real decisions, it is the strongest DIY choice.

ProjectionLab is a browser based planner built around visual, what-if planning. You can build a plan, change a retirement date, add an income stream, or test a sabbatical, and see the effect as a chart rather than a single number. It supports early retirement scenarios, multiple income streams, and Monte Carlo testing, which makes it a favourite for people planning an early exit or a nonstandard career path.

The trade-off is that ProjectionLab does not link to your accounts in the same way an aggregator does, so you enter balances manually and keep them updated. That manual step is also a privacy advantage for some users, since your data stays in the plan you built. If you want linked tracking plus planning, pair it with a free tracker, and use ProjectionLab for the scenario work.

Empower, formerly Personal Capital, is the best free starting point for many people because it combines tracking with planning. Link bank, investment, and retirement accounts, and you get net worth, asset allocation, fee analysis, and a retirement planner that projects income against estimated expenses. For a quick readiness check based on real balances rather than guesses, it is hard to beat at no cost.

The free planner has limits that matter for advanced decisions. It does not model withdrawal sequencing, Roth conversions, or taxes across future years in the depth Boldin or ProjectionLab offer, and that deeper work sits in its paid wealth management service, which has a high minimum. Use Empower to track and to get a first projection, then move to a detailed planner for tax and withdrawal decisions.

Fidelity offers a set of free retirement calculators and a retirement score that gives a quick readiness snapshot without requiring you to buy anything. The tools cover income projections, Social Security timing, and spending, and they are a sensible first step for someone who wants a number before committing to a paid planner. Fidelity account holders get deeper integration with their actual holdings.

A snapshot is not a plan. Fidelity's free tools will not model a full tax and withdrawal strategy in the way Boldin does, and the most useful features assume you hold accounts at Fidelity. Treat the score as a starting point: if it shows a gap, use a detailed planner to test how changes to saving, retirement age, or spending close it.

Vanguard's Nest Egg Calculator answers one question in a few minutes: given your savings, spending, and expected returns, how long might the money last. That simplicity is its virtue. It is a good tool for a first conversation with a partner, or for a young saver who wants to see why starting early matters, without wading through a full planner.

Do not mistake simplicity for a plan. The calculator uses basic assumptions and does not model taxes, Social Security, pensions, or changing spending in retirement. Use it to get a feel for the numbers, then move to Empower, Fidelity, or a detailed planner for a plan you can act on. Vanguard savers get the most value when they pair it with their account tools.

T. Rowe Price offers a free retirement income calculator that projects monthly and annual retirement income, which helps people think in terms of a monthly pay cheque rather than a lump sum. That framing matters: retirement feels more concrete when you see projected monthly income against monthly spending, and the tool makes that comparison clear.

As with other free calculators, the projection rests on simplified assumptions and does not replace a detailed tax and withdrawal plan. T. Rowe Price account holders can go further with planning tools and advice, but the free calculator alone is best used as a check on a fuller plan. If the monthly income figure looks short, test a later retirement date or higher saving in a detailed planner.

MaxiFi takes an economics based approach that sets it apart: instead of asking how much you can spend in retirement alone, it models your lifetime spending to keep your living standard as smooth as possible across your life. That approach, plus Monte Carlo testing and detailed tax and Social Security modelling, appeals to planners who want a mathematically grounded plan rather than a simple projection.

The cost is accessibility. MaxiFi is paid only, and its interface feels more academic than Boldin or ProjectionLab, so beginners may struggle to set it up. It suits someone who is comfortable with detailed inputs and wants a second, economics based view on a plan built elsewhere. If you want visual, drag and drop scenario work, ProjectionLab will feel easier.

Quicken Simplifi bundles a retirement planner into a budgeting and tracking app, which suits someone who wants planning and day to day money management in one place. Its retirement planner supports adjustable variables, including separate pre and post retirement return rates, Social Security and pension income, inflation, and scenario testing, giving it more depth than most budgeting apps.

The planner is still a feature, not the whole product. Dedicated planners such as Boldin offer deeper tax and withdrawal modelling, and Simplifi requires a paid subscription after a trial. Simplifi makes sense if you already want a budgeting app and will use its planner regularly. If retirement planning is your only goal, a dedicated tool gives more for a similar price.