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Anyone know some good financial planning software?

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3:53 pm
August 21, 2012


Nick

Member

posts 247

I was recently asked if I knew of financial planning software to solve this guy's problem.  (Mint isn't what he was looking for).  Any suggestions?

"I want to run Monte Carlo simulations for retirment planning to better identify how much I need for retirement and what the likely hood of actually hitting my target is. I also want to run various scenarios for college planning to better identify the target that we should be shooting for. "

5:17 pm
August 22, 2012


Money and Risk

Member

posts 73

I use Naviplan.  They are considered to be top of the line.  Note that you still need to check all the assumptions and calculations as their tax calculations occasionally have mis-coding.  The best thing about NaviPlan is their customer service.  They were very patient whenever I challenged their results.  On one plan last year, I spent 10 hrs on the phone with their coding department to drill down on a mistake that I caught. 

 

Monte Carlo is not the be all end all as you have to understand the assumptions behind the coding and whether it matches the customer's circumstances. 

 

The cost on Naviplan stripped down is about minimum $5,000/year up front.  They just got bought and I'm not sure what the current pricing will be.  I am on their download version until I renew at tax season. 

Kim @ Money and Risk

Site:  Money and Risk

Twitter: @moneyandrisk

6:44 am
August 23, 2012


MyJourneytoMillions

Member

posts 1012

I HATE naviplan.  I forgot what version I was using before we didn't renew but it was such a pain in the butt.  I use e-money at work.

8:31 am
August 29, 2012


Miss T @ Prairie Eco-Thrifter

Member

posts 2213

We use Quicken and really like it. It is very versatile and lets you keep track of everything.

Miss T

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12:07 pm
August 29, 2012


AmericanDebtProject

Member

posts 199

Does this person have an Etrade or TD Ameritrade account? They have many sophisticated planners and calculators right on their site once you login. 

I blog at: American Debt Project

Follow me on Twitter: @IAmDebtProject

6:25 pm
August 29, 2012


OneCentAtatime

Florida, USA

Member

posts 1778

I was going to say just that. My Fidelity account comes with a great tool to calculate retirement need and college education need. Even Merill Lynch has one.

 

Nothing like you have to crack the code to understand situation, you can enter your own situation.

SB

One Cent At A Time  (Yakezie Member Site)

 

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onecentatatime@gmail.com

Finance Product Reviews 

 

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7:41 am
August 30, 2012


PK @ DQYDJ

The Intersection of Politics, Economics and Personal Finance.

Moderator

posts 361

Nick said:

I was recently asked if I knew of financial planning software to solve this guy's problem.  (Mint isn't what he was looking for).  Any suggestions?

"I want to run Monte Carlo simulations for retirment planning to better identify how much I need for retirement and what the likely hood of actually hitting my target is. I also want to run various scenarios for college planning to better identify the target that we should be shooting for. "

Monte Carlos come for free with my Fidelity account – he should definitely check his 401(k)s, IRAs and Brokerage.  If there's nothing there, a quick free option is MoneyChimp.

Don't Quit Your Day Job…

http://dqydj.net or http://yourdayjob.net

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