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Personal Capital Launches Retirement Planner to Give You a Reality Check

Personal Capital Launches Retirement Planner to Give You a Reality Check

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Odds are, you’ve used some type of retirement calculator in the past to ensure you’re contributing enough of your current paycheck to your future self.

Today, Personal Capital launched a detailed, automated version of what it’s calling the Personal Capital Retirement Calculator.

The tool draws data from a user’s existing Personal Capital account, then asks questions about children and their education, Social Security expectations, and planned retirement lifestyle. Next, it generates 5,000 Monte Carlo simulations to predict your median net worth at retirement age and the 10% worst outcomes.

Although looking at the worst case scenario can be a bit sobering, the tool offers practical application by showing a range of expected results from different savings amounts. It also has the flexibility to edit retirement age, spending, and savings, as well as additional income changes, such as downsizing or receiving a pension.

The tool is available as a free feature for new and existing account holders.

Personal Capital showed off its data aggregation capabilities at FinDEVr 2014 in San Francisco.

Interested in seeing more presentations like Personal Capital’s? Tickets are now on sale for FinDEVr 2015 in San Francisco. Pick up yours today.