Flexible Retirement Planner vs Retireator

Flexible Retirement Planner models retirement outcomes with Monte Carlo simulation and reports the probability that a plan succeeds. It runs 10,000 simulated paths spanning savings accumulation and retirement spending. Users can compare Stable, Flexible, and Conservative spending policies, test different assumptions, and use sensitivity analysis to see which inputs affect results most. The standalone version lets users save inputs and maintain multiple what-if scenarios, and it works offline. The planner includes income and savings growth projections, withdrawal planning, detailed tax modeling, and Social Security modeling. Standalone downloads are provided for Windows and Mac/Linux; the Windows version does not require Java. The planner is free for individual non-commercial use, and educators and trainers may use it for educational purposes. A voluntary contribution of any amount unlocks a personal-use license key. Commercial use, including by financial planners, is not authorized or supported. Its maker, Random Walk Ventures LLC, created it in 2006.

Retireator is a free, open-source retirement simulator written in Microsoft Excel for short- and medium-term financial planning. Users can build and test drawdown strategies across years using different income sources. It projects income and savings growth, supports withdrawal planning and scenario analysis, and models Social Security benefits and federal and state income taxes. Social Security calculations include spousal and survivor benefits, early-retirement reductions, and delayed-retirement credits. Other modeled factors include wage and consumer price inflation, stocks and bonds, past and future market conditions, employment and passive income, defined benefit pensions, debt, and net worth. Portfolio features cover target date funds and 401(k), 403(b), and IRA accounts. Housing tools include mortgage payment and amortization calculations, reverse mortgages, and scheduled one-time expenses. The listed annuity types include immediate, deferred, fixed, variable, indexed, and joint and survivor options. Tax calculations also cover payroll, self-employment, and long-term capital gains. Retireator is available on the web and Windows; account synchronization is not included.