When my wife and I first started planning for retirement, we were overwhelmed.
There were retirement calculators everywhere, but most were little more than simple spreadsheets with a few assumptions plugged in.
Today, retirement planning tools have evolved into complete financial planning platforms. They can help you estimate retirement income, model taxes, test different retirement ages, evaluate Social Security strategies, and answer one of the biggest questions every investor asks:
Am I actually on track to retire?
Over the past eight years, I've personally used three of the most popular retirement planning tools: Empower, ProjectionLab, and Boldin.
During that time, my opinions have changed.
Empower helped me organize my finances and track my net worth.
ProjectionLab showed me how powerful visual retirement planning could be.
And after nearly two years using all three, Boldin has become the retirement planning platform I recommend to most people.
That doesn't mean it's the right choice for everyone.
In this guide, I'll explain where each platform excels, who it's best for, and which one I would choose depending on your stage of life and retirement goals.
Compare the Best Retirement Calculators for 2026
| My Rank | Platform | Best For | My Rating | Free Version |
|---|---|---|---|---|
| 🥇 | Boldin | Best overall retirement planning | ⭐⭐⭐⭐⭐ | ✅ |
| 🥈 | ProjectionLab | Beginners, Coast FIRE and visual planners | ⭐⭐⭐⭐½ | ✅ |
| 🥉 | Empower | Free net worth tracking | ⭐⭐⭐⭐ | ✅ |
Disclosure: Some of the links below are affiliate links. If you sign up through one of my links, I may earn a commission at no additional cost to you. I only recommend tools I've personally used and believe provide value.
🥇 1. Boldin: Best Overall Retirement Planning Platform
Why I Ranked It #1
After using Boldin alongside ProjectionLab and Empower for nearly two years, it's become my favorite retirement planning platform.
The reason is simple.
It gives me the most confidence in my retirement plan.
Boldin combines robust retirement planning tools with direct account syncing, tax planning, Monte Carlo analysis, and an AI assistant that makes navigating the platform surprisingly easy.
As my family's finances have become more complex, I've found myself opening Boldin more often than any other retirement planning tool.
If I could only keep one platform, this is the one I'd choose.
Best Features
- Comprehensive retirement planning with income, expenses, taxes, healthcare, and Social Security
- Monte Carlo simulations to stress test your retirement plan
- AI assistant that helps answer questions and navigate the platform
- Direct account syncing for automatic updates
- Roth conversion, Social Security, and withdrawal planning tools
- Access to fee-only fiduciary financial advisors if you want professional guidance
Things to Consider
Boldin offers a free version that lets you begin building your retirement plan.
To unlock features like direct account syncing, more advanced planning tools, and additional scenario analysis, you'll need the PlannerPlus subscription.
The platform can also feel overwhelming during your first few sessions simply because there are so many planning options available.
Fortunately, the AI assistant makes that learning curve much easier than I expected.
Pricing
- Free Plan
- PlannerPlus: $144/year after a 14-day free trial
- Optional fee-only fiduciary advisor services available
My Personal Experience
One of the biggest insights Boldin gave me came after updating our family's spending.
As our business income grew, so did our lifestyle. We started traveling more, spending more time with our kids, and enjoying the flexibility we'd worked so hard to build.
When I updated those higher spending numbers in Boldin, I realized something surprising.
Based on our current lifestyle, we probably weren't Coast FIRE anymore.
That prompted a great conversation between my wife and me about whether we wanted to continue investing more aggressively or simply keep working a little longer in careers we genuinely enjoy.
That's the kind of insight I want from retirement planning software.
Not just colorful charts.
Better financial decisions.
🥈 2. ProjectionLab: Best Free Retirement Planning Tool
Why I Ranked It #2
ProjectionLab has one of the best free retirement planning experiences available today.
If you're new to retirement planning, exploring Coast FIRE, or simply enjoy seeing your financial future through interactive charts and timelines, ProjectionLab is an outstanding choice.
In fact, if someone told me they weren't ready to pay for retirement planning software yet, ProjectionLab would probably be my first recommendation.
The reason it ranks just behind Boldin is that I believe Boldin has become the stronger long-term platform. Its planning tools are more robust, the AI assistant makes navigating the software much easier, and it's the platform I'd choose if I only wanted to learn one retirement planner.
That said, ProjectionLab remains an excellent retirement planning tool and one I still recommend with confidence.
Best Features
- Excellent free version with generous planning tools
- Beautiful visual timeline that makes retirement planning easy to understand
- Monte Carlo simulations and detailed scenario planning
- Flexible assumptions for spending, investment growth, taxes, and Social Security
- Integrations with Monarch Money, YNAB, and Lunch Money
- One of the best tools I've used for exploring Coast FIRE and early retirement scenarios
Things to Consider
ProjectionLab doesn't sync directly with your financial accounts.
Instead, it integrates with budgeting tools like Monarch Money, YNAB, and Lunch Money to keep your retirement plan updated.
While that's perfectly workable, I personally prefer Boldin's direct account syncing because everything lives in one place.
ProjectionLab also doesn't currently include an AI assistant, which is one of the features I've come to appreciate most in Boldin.
Pricing
- Free Plan
- Premium: $129/year
- Pro: $549/year
My Personal Experience
ProjectionLab completely changed how I think about retirement planning.
Before using it, retirement calculators mostly felt like spreadsheets.
ProjectionLab made retirement planning visual.
I loved seeing milestone markers for retirement, Social Security, and other major life events along an interactive timeline. It made complex financial decisions much easier to understand.
Even today, I think ProjectionLab has the most enjoyable user experience of any retirement planning platform I've tested.
If you learn visually or you're just beginning your retirement planning journey, it's an excellent place to start.
🥉 3. Empower: Best Free Net Worth Tracker
Why I Ranked It #3
Empower played an important role in my family's financial journey.
I used it for more than eight years to track our net worth, analyze investment fees, monitor asset allocation, and watch our progress from a negative $50,000 net worth to becoming millionaires.
But if we're talking specifically about retirement planning, I think Empower has fallen behind.
While Empower's retirement calculator still works, I don't believe it has evolved as quickly as Boldin or ProjectionLab. Instead, the company's primary focus appears to be growing its financial advisory business, with the retirement tools serving as an introduction to those services.
That's why I now think of Empower as an excellent free net worth tracker rather than my top retirement planning recommendation.
Best Features
- Completely free to use
- Automatic account syncing
- Net worth tracking across all your financial accounts
- Investment fee analyzer and portfolio allocation tools
- Retirement planner included at no additional cost
Things to Consider
If your primary goal is retirement planning, I think Boldin and ProjectionLab offer more robust planning experiences today.
You'll also likely receive outreach from Empower's advisory team once your assets reach a certain level. While you can decline those conversations, it's worth knowing that's part of their business model.
Pricing
- Free
My Personal Experience
I'll always appreciate what Empower did for my family.
It helped me understand where our money was going, reduce unnecessary investment fees, and stay motivated as our net worth grew over the years.
Those insights were incredibly valuable.
Today, though, I no longer use Empower for my own retirement planning.
If someone asked me for a free tool to track their net worth, I'd still be happy to recommend Empower.
If they asked me for the best retirement planning software, I'd point them toward Boldin or ProjectionLab instead.
Which Retirement Calculator Is Right for You?
If you're still not sure which retirement planning tool to choose, here's my recommendation based on your situation.
| If you are… | My Recommendation |
|---|---|
| Looking for the best overall retirement planning platform | Boldin |
| New to retirement planning | ProjectionLab |
| Planning for Coast FIRE or early retirement | ProjectionLab |
| Wanting one retirement planner to use for years | Boldin |
| Looking for a completely free net worth tracker | Empower |
| Interested in working with a fee-only fiduciary advisor | Boldin |
My Advice
If a friend asked me today which retirement planning platform they should start using, I'd recommend Boldin.
It's the platform I personally use most often, and I believe it offers the best combination of planning depth, ease of use, continued innovation, and long-term value.
That doesn't mean everyone needs Boldin.
If you're just beginning your retirement planning journey or you're not ready to pay for software, ProjectionLab's free version is one of the best places to start.
And if all you want is a free way to track your investments and monitor your net worth, Empower is still a solid option.
The good news is that all three platforms offer free versions, so you can explore each one before deciding which fits your planning style best.
Other Retirement Calculators Worth Exploring
Beyond my top three recommendations, there are a few niche retirement calculators that may be helpful depending on your goals.
- cFIREsim: A classic calculator that uses historical market data to test the sustainability of your retirement plan.
- FIREProof: A more modern take on cFIREsim with improved visuals and an active community.
- NetWorthify: A simple calculator that estimates how quickly your savings rate can lead to financial independence.
If you're specifically working toward Coast FIRE, check out our Coast FIRE Calculator to estimate how much you need to invest today to reach financial independence later in life.
Final Thoughts on the Best Retirement Calculators
When I first published this guide, Empower was my top recommendation.
After spending considerably more time with Empower, ProjectionLab, and Boldin over the past year, my opinion has changed.
Empower is still an excellent free net worth tracker and played an important role in my own financial journey.
ProjectionLab remains one of the best free retirement planning tools available today, especially for visual learners and anyone exploring Coast FIRE or early retirement.
But if someone asked me which retirement planning platform I recommend to most people today, my answer would be Boldin.
It's the platform I use most often because it combines robust retirement planning tools, direct account syncing, thoughtful AI features, and continuous product improvements. More importantly, it's the one I trust to help my family make better long-term financial decisions.
If you're looking for the strongest free retirement planning experience instead, I recommend ProjectionLab.
If you're just getting started, here's my advice:
🥇 Choose Boldin if you want one retirement planning platform to grow with for years.
🥈 Choose ProjectionLab if you're looking for the strongest free retirement planning experience or enjoy visual planning.
🥉 Choose Empower if your primary goal is tracking your net worth for free.o help my family make better long-term financial decisions.
Whichever tool you choose, don't wait for the “perfect” retirement plan before getting started.
The families who reach financial independence aren't the ones with perfect projections.
They're the ones who consistently revisit their plan, adjust as life changes, and keep moving forward.
Continue Your Retirement Planning Journey
If you'd like to dive deeper into retirement planning, check out these related guides:
- Boldin Review: Why it's now my top retirement planning recommendation.
- Boldin vs. ProjectionLab: My side-by-side comparison after using both platforms.
- ProjectionLab Review: Why it's my favorite free retirement planning tool.
- Empower Review: Why my opinion changed after using it for more than eight years.
- Coast FIRE Calculator: Estimate how much you need to invest today.
- Monarch Money Review: The budgeting app I use alongside my retirement planning software.
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