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Mobile Apps That Can Help You Save For Retirement

By: Joe Young
Posted: 1/28/2014 1:25:00 PM
Referenced Stocks:

One of the most important considerations for your retirement is making sure you have enough funds in cash and investments in order to be able to continue a reasonable lifestyle.

This feat can be achieved by applying sound saving and investing principles during your working years. With the advent of technology, much of the guesswork regarding how much you will need in order to retire, how much you need to save now, and how aggressively to invest, has been simplified.

Now that mobile app technology has progressed, anyone who has a smart phone or tablet has tremendous retirement planning power at their fingertips.

Here we will take a look at some of the better apps which can help you save for retirement.

Vanguard Retirement Nest Egg Calculator

With the Vanguard Retirement Nest Egg Calculator, you can view personalized retirement projections based on historical models.

In other words, this Vanguard app stores data from historical retirement returns and creates a simulation of what you can expect from your retirement account based on information you input.

As such, you cannot use this app to do a "what if" projection by entering different potential returns, as the app solely uses historical information. Currently this app is only available for those who have Vanguard employer based retirement accounts.

Check out the app here.

Financial Mentor Ultimate Retirement Calculator

This app is pretty straightforward. All of the information you need in order to conduct your projection is entered on a single screen.

You select the return you expect to receive on your investment. This means that you will have to basically guess at future returns, as this app does not include statistical modeling based on previous returns.

This app allows you to account for such variables as inflation and taxes. The finalized report is easy to read interpret.

Check out the app here.

Smart Money Retirement Planner

By inputting a few basic pieces of information, this simple app will allow you to predict how much money you will have in your account at retirement. The app allows you to account for changing social security payments, which may be useful for those who are looking to get an idea of what their overall income will be during their retirement years.

Check out the app here.

Retirement Planner App

This app will help you compare between investment vehicles such as 401 (k) and Roth 401 (k), and the Traditional IRA and Roth IRA. You can track how the employer contribution to your retirement account is adding up and how it affects your overall retirement savings.

Users can also track how much money they are saving as a result of spending reductions and whether your overall retirement path is on track for a surplus or shortfall.

Check out the app here.

ING STRUCT® App

One of the more innovative retirement and investment apps on the market is the STRUCT® app by ING.

The app is actually a game which allows players to try out different investment strategies, represented by building materials. Steel represents cash, wood represents bonds, and glass represents stocks. The object of the game is to construct complex buildings, or "structs," using these investment materials.

There are three kinds of build crews which each represent a different kind of investor – aggressive, moderate and conservative. To make things interesting (and more closely model the real world) a fourth crew member, the "wild card," represents market opportunity and risk. By using this innovative game, you can learn about retirement planning and investing in an intuitive and fun manner.

Check out the app here.