Financial planning apps model your future — retirement readiness, goal progress, and scenario analysis. We ranked tools on the sophistication of their projections and how actionable their recommendations are.
Updated February 2026
Best free retirement planning tool
Empower's retirement planner uses Monte Carlo simulations to model thousands of market scenarios. It is free, connects to all your accounts, and gives you a clear probability of retirement success.
Best for conversational financial planning with AI
Clarity's AI assistant can model financial scenarios based on your actual account data. While not a traditional planning tool, the ability to ask 'What if I increase my savings rate by 10%?' and get data-backed answers is uniquely powerful.
Best for modeling life event impacts on finances
Wealthfront's Path tool models how life events (home purchase, job change, kids) affect your financial trajectory. The scenarios are interactive and well-designed, though optimized for Wealthfront products.
Best for simple goal tracking tied to budgeting
Monarch offers simple financial goal tracking tied to your actual accounts. It is less sophisticated than Empower's planning tools but integrates goals directly into daily budgeting.
Best for detailed DIY retirement planning
NewRetirement (now Boldin) is the most detailed retirement planning tool for DIY planners. It models Social Security optimization, Roth conversions, Medicare, and tax bracket management.
No projection is a prediction. Monte Carlo simulations (Empower, NewRetirement) show probability ranges, which is more honest than single-number projections. Use planning tools to understand the ballpark and stress-test your plan against bad scenarios — not as precise forecasts.
For straightforward situations (steady income, standard retirement goal, no complex tax situations), a good app is sufficient. Complex situations (business ownership, estate planning, stock options, multiple income streams) benefit from a human planner who can handle nuances apps cannot.
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