Friday, January 6, 2012

RetirePlan for iPad


While there is a strong competition on the software market for iPhone platform, and there are multiple applications available for the retirement planning, one of the most usable and bold app, regarded by many users, is RetirePlan, developed by Katherine Philip. The graphs, spreadsheets and email capability increase the usability of the application. The application is free for all users.

RetirePlan will help you to answer the most important retirement related questions, and among them:

  • When can I Retire?
  • How much do I need to save every year?
  • How much money will I get every year in my retirement?
  • How long will my money hold out in my retirement?

In just a few seconds, you can enter your data and related assumptions, and the graph will update to show you if your retirement plan will work. If you have more time to spend, you can enter as much detail as you want to refine your plan to the very details.

The sliders give you an easy way to see what different values will do to your plan. Need to enter a value outside the slider range? Just press the amount and a calculator will pop up to let you enter whatever number you need. The slider range will update automatically.

Bring up the spreadsheet to see all the details for every year of the plan.

Email your results.

Use the settings to add your spouse, include or remove Social Security, and show or hide inflation and interest rates.

Use the + button to add a pension, send a child to college, large upcoming expenses, add additional rates of return and retirement income assumptions.

Reviewing the application, Wealth Building Course highlights the following positive and negative traits of the utility:


Pros:


Easy to enter data, results are based on assumptions, sliders help users determine how different values will affect your retirement plan, spreadsheets include details for every year of the plan, email capability, capable of adding a spouse, pension, college, Social Security or inflation, excellent graphics, ability to add different rates of return or retirement assumptions.

Cons:

No Excel spreadsheet capability, no ability to toggle between charts listing current dollar value and how inflation affects retirement savings, no ability to determine how a market crash would affect the retirement value.

Screenshots:

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Image and video hosting by TinyPic

Image and video hosting by TinyPic

Image and video hosting by TinyPic


Cost: Free

Requirements: Compatible with iPad. Requires iOS 4.2 or later.




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