Review: Top 5 Retirement Calculators Compared (2026)

Choosing the right retirement calculator can make the difference between a solid plan and an underfunded retirement. We tested five widely used calculators for accuracy, assumptions transparency, user experience and customizability. Our goal was to recommend which tools are best for planning cash flow, modeling Social Security timing, testing longevity risk, and running Roth conversion scenarios in 2026.

Methodology

We tested each tool using three household profiles: a single early-60s saver, a dual-income couple approaching full retirement age, and a retiree in their mid-70s with fixed income. We compared outputs for income replacement ratios, sustainable withdrawal rates, tax-aware income sequencing, and ease of exporting results for advisor review.

Tool 1: SecurePlan Pro

Overview: A paid planner-oriented tool that offers Monte Carlo simulations, integrated tax modeling and Social Security timing optimization.

Pros:

• Robust Monte Carlo engine and scenario comparison.
• Tax modeling includes state and federal layers.
• Exportable reports that are advisor-ready.

Cons:

• Steep learning curve and subscription cost.
• Assumes normative market returns that may feel aggressive to conservative users.

Rating: 9/10

Tool 2: SimpleNest

Overview: A free, web-based tool geared to consumers who want a quick snapshot. Easy interface, plain language outputs.

Pros:

• Simple inputs and clear visualizations for income vs. expenses.
• Good for initial planning and engagement.

Cons:

• Lacks tax-aware sequencing and advanced modeling.
• No Monte Carlo analysis.

Rating: 7/10

Tool 3: ActuaryEdge

Overview: A technical calculator with strong annuity and longevity risk modeling, favored by insurers and financial planners.

Pros:

• Detailed longevity tables and annuity pricing.
• Great for modeling guaranteed income vs. portfolio withdrawals.

Cons:

• User interface is dry; not consumer-friendly.
• Limited free tier.

Rating: 8.5/10

Tool 4: Freedom Planner

Overview: Balances usability and depth; includes tax buckets and partial Roth conversion modeling.

Pros:

• Clear visualization of taxable, tax-deferred and tax-free buckets.
• Step-by-step guidance for Roth conversion strategies.

Cons:

• Some default assumptions are optimistic regarding market growth.

Rating: 8/10

Tool 5: Community Calc

Overview: A nonprofit tool built for community centers and SHIP counselors, focusing on simple outputs and local cost of living adjustments.

Pros:

• Free and easy to explain to clients.
• Includes regional cost-of-living tweaks.

Cons:

• Minimal investment modeling.

Rating: 7.5/10

Winners by use case

• For deep planning and advisor use: SecurePlan Pro.
• For quick, consumer-friendly checks: SimpleNest or Community Calc.
• For annuity and longevity pricing: ActuaryEdge.
• For tax-aware sequencing and Roth planning: Freedom Planner.

How we ranked accuracy

Accuracy hinged on clearly stated assumptions and the ability to change those assumptions. Tools that hid inflation, fees or Monte Carlo settings ranked lower. The best calculators allowed customization of market assumptions, fees, tax rates and Social Security claiming ages so outputs could be stress-tested.

Pricing and accessibility

Free tools are a great starting point but often force users to oversimplify. Paid tools cost from $50/year for consumer tiers to several hundred dollars for advisor licenses. If you plan to rely on a tool for multi-scenario planning and tax modeling, the advisor-level platforms typically provide better value.

Final recommendations

Start with a free tool to gather baseline numbers, then validate with SecurePlan Pro or Freedom Planner if you face complex choices like Roth conversions, multi-state taxation, or intricate annuity options. Always keep a simple exportable summary you can share with an advisor or family member.

'A calculator is a conversation starter, not a final answer. Use outputs as hypotheses to test, not certainties.' — Retirement Planning Expert

Appendix: Practical checklist

1. Run a basic projection in a free tool for 3 claiming ages: 62, full retirement age, 70.
2. Export the report and compare to a Monte Carlo simulation.
3. Test worst-case sequences: bear market early in retirement plus rising health costs.
4. Get professional review for tax-sensitive strategies.

If you'd like our downloadable comparison spreadsheet with links to each tool and sample inputs used in our tests, download it from the link at the top of this review.