NewRetirement Calculator: How It Compares to Retirementize
Retirement planning is more than just saving money; it's about managing your income, investments, budget, health and lifestyle for the long haul. There are many popular retirement calculators on the web to help you plan, on of which is NewRetirement, or as it is newly-known-as: Boldin. Let's talk about what it can do for you, and how Retirementize stacks-up.
There are two type of retirement calculators you'll find online: retirement savings calcluators and retirement income calculators. Savings calculators tell you how much you should be saving before retirement. Income calculators show you how to withdraw your money in retirement to get the most out of it. Income calculators will give you the peace of mind and trust that your savings and retirement strategy will work.
Meet Boldin (formerly NewRetirement)
Boldin is a well-established retirement planning tool that has undergone rebranding from its previous name, NewRetirement. It's known for offering a wide range of features, particularly useful for those who want to dive deep into every aspect of their retirement strategy.
NewRetirement/Boldin offers both types of calculators: Savings and Income.
On the surface, it does what all income calculators do: capture your various income sources and produce a withdrawal strategy with nice visuals. NewRetirement/Boldin's also offer customizable features, available with the PlannerPlus upgrade, which unlocks advanced options like:
- Investment growth flexibility – You can adjust different growth scenarios for your portfolio.
- Tax considerations – Boldin helps you account for taxes, offering tax-efficient strategies for withdrawing from retirement accounts.
- Home and rental assets – Plan for home downsizing, rental income, and capital gains.
While many of these features are quite powerful, it's important to note that they come at a cost. The free version of Boldin is limited in scope, and the full experience requires a paid subscription.
How Does Retirementize Compare?
Now, let’s talk about Retirementize, a retirement calculator designed specifically for retirees or near-retirees to plan their income and build confidence in their retirement plan. What sets Retirementize apart is its focus on optimizing your finances once you’re already in retirement, with a goal of helping you manage income and minimize taxes.
The most important differences are:
Here are some key features of Retirementize:
- Free to use – Unlike Boldin’s PlannerPlus, all of Retirementize's features are completely free. There are no upsells or premium tiers.
- Inflation rate adjustments – Retirementize lets you customize inflation rates, providing a more accurate projection of your future expenses.
- Tax optimization – Retirementize considers both U.S. and Canadian tax systems, helping you strategize withdrawals from accounts like 401k, IRA, CPP, RRSP, OAS, and TFSA.
- Post-retirement income planning – The tool helps you figure out how to withdraw from multiple income sources like pensions, investments, and rental properties, while minimizing taxes.
- Rental and real estate management – Just like Boldin's paid features, Retirementize includes scenarios for downsizing your home, selling properties, and managing rental income—all for free.
- Retirementize offers what-if scenarios that allow you stress-test your plan. For example, you can see what happens if inflation goes up, your investments don't perform well, or you get a divorce.
Why Choose Retirementize?
While NewRetirement/Boldin offers a wide array of customizable features, Retirementize is built for simplicity and ease of use—without sacrificing any critical planning tools. If you want in-depth analysis without paying for premium features, Retirementize is your go-to option.
Additionally, Retirementize’s user interface is intuitive and built for those who want to get their retirement plan up and running in minutes, rather than diving into complex financial scenarios.
Feature Comparison: Boldin vs. Retirementize
| Feature | NewRetirement / Boldin | Retirementize |
|---|---|---|
| Free to Use | Limited free version, paid for advanced features | 100% free, no hidden fees |
| Investment Growth Flexibility | Yes (Paid PlannerPlus feature) | Yes, included for free |
| Tax Optimization | Yes (Paid feature) | Yes, includes U.S. and Canadian tax planning |
| Inflation Adjustability | Yes (Paid feature) | Yes, free and fully adjustable |
| Real Estate & Rental Income Planning | Yes (Paid feature) | Yes, included for free |
| Designed for Post-Retirement Income Planning | Yes | Yes, fully focused on post-retirement income |
| U.S. and Canadian Compatibility | No, US Only | Yes |
Fun Facts
- Did you know that 48% of retirees are worried about outliving their savings? Tools like Retirementize can help you avoid this worry by optimizing your income strategy.
- Boldin offers its PlannerPlus at a cost starting at $120 annually, while Retirementize offers similar features for free!
Conclusion
Both Boldin and Retirementize offer excellent retirement planning tools, but they cater to different types of users. Boldin is a comprehensive tool packed with features, though many of them are behind a paywall. If you’re looking for a free, easy-to-use tool that focuses on post-retirement income and tax optimization, Retirementize is the clear choice.
Ready to get started? Try Retirementize today and see how easy it can be to optimize your retirement income without the need for costly subscriptions.