Best Retirement Planning Software in 2026

An honest comparison of the tools available for planning your retirement — from free calculators to paid platforms.

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Quick Verdict

Bullseye is the best free retirement planning software for comprehensive, tax-aware projections. It offers features — year-by-year tax modeling, Social Security optimization, scenario testing, and couples planning — that typically require a paid platform or financial advisor. For most retirees and pre-retirees, it provides everything needed to make confident decisions.

How We Evaluated

Choosing retirement planning software is a high-stakes decision — the right tool can save you tens of thousands of dollars in taxes, while the wrong tool (or no tool) leaves money on the table. We evaluated the major approaches based on what actually matters for retirement planning:

  • Tax awareness — Does it model federal and state taxes, IRMAA surcharges, and Social Security taxation?
  • Year-by-year projections — Can you see what happens each year, not just a single endpoint number?
  • Withdrawal optimization — Does it suggest the most tax-efficient order to draw from your accounts?
  • Scenario testing — Can you model "what-if" situations like market crashes or early retirement?
  • Couples planning — Does it handle two spouses with coordinated Social Security and survivor benefits?
  • Cost — Is the tool accessible without a subscription or advisor fees?

Feature Comparison

How each approach handles the features that matter most for retirement planning.

Feature Bullseye Spreadsheets Simple Calculators Paid Software
Year-by-Year Projections Manual
Federal + State Tax Modeling Manual
Social Security Optimization Manual Basic
RMD Calculations Manual
Tax-Efficient Withdrawal Order Some
What-If Scenario Testing Limited
IRMAA Surcharge Tracking Some
Couples Planning Manual
Rental Property Income Manual Some
Roth Conversion Analysis Manual Some
Long-Term Care Modeling Some
Easy to Use (No Formulas)
Cost Free Free Free $50-$120/yr

When to Use Each Approach

Use Bullseye When...

  • You want comprehensive, tax-aware projections — Bullseye models federal and state taxes, IRMAA, RMDs, and Social Security taxation automatically.
  • You're planning as a couple — Coordinated Social Security timing, survivor benefits, and combined tax modeling are built in.
  • You want to test scenarios — Model market crashes, early retirement, Roth conversions, or long-term care needs with AI-powered what-if analysis.
  • You don't want to pay — All features are free, with no premium tier or trial period.
  • You want answers, not formulas — Enter your information and get year-by-year projections without building anything from scratch.

Consider Other Tools When...

  • You want full control over formulas — Spreadsheets let you customize every calculation, which some people prefer for building their own models.
  • You need a 30-second estimate — Simple calculators from Bankrate or NerdWallet answer "Am I on track?" instantly without any account creation.
  • You want account aggregation — Some paid platforms can connect to your bank and brokerage accounts to pull real-time balances automatically.
  • You need advisor access — Some paid platforms include access to a financial advisor as part of the subscription.

Approaches Compared

Each approach has strengths — here's how they compare for retirement planning.

Bullseye

Best for: Comprehensive, tax-aware retirement planning

AI-powered retirement planner with year-by-year projections, federal and state tax modeling, Social Security optimization, scenario testing, and couples planning.

  • Full tax modeling (federal, state, IRMAA, SS taxation)
  • AI-powered scenario testing
  • Couples planning with survivor benefits
  • Completely free
  • Requires account creation for full features
  • No direct bank account connection

DIY Spreadsheets

Best for: Custom modeling with full formula control

Build your own retirement model in Excel or Google Sheets. Maximum flexibility, but requires significant financial knowledge and ongoing maintenance.

  • Complete customization
  • No dependencies on third-party tools
  • Free (if you already have Excel)
  • Extremely time-consuming to build correctly
  • Tax modeling is error-prone
  • No built-in scenario testing
  • Easy to make formula mistakes

Simple Online Calculators

Best for: Quick estimates and sanity checks

Free calculators from sites like Bankrate, NerdWallet, and Fidelity. Enter basic info and get a retirement readiness score or target savings amount.

  • Instant results, no account needed
  • Good for quick sanity checks
  • Simple and approachable
  • No tax modeling
  • Single-number output (not year-by-year)
  • No withdrawal optimization
  • Cannot handle couples or complex scenarios

Paid Planning Software

Best for: Account aggregation and advisor access

Platforms like NewRetirement and other paid tools offer comprehensive features with subscription pricing ($50-$120/year or more).

  • Feature-rich
  • Some offer bank account connections
  • Some include advisor access
  • Annual subscription cost ($50-$120+/yr)
  • Feature overlap with free tools like Bullseye
  • May push paid financial products

Our Recommendation

For most people planning retirement, Bullseye offers the best balance of power and accessibility. It handles the complex calculations — tax-efficient withdrawals, Social Security timing, IRMAA avoidance, RMDs — that actually move the needle on your retirement income, and it does it for free.

The key questions your retirement planning software should answer:

  • What's the most tax-efficient way to draw from my accounts each year?
  • When should I (and my spouse) claim Social Security?
  • Should I do Roth conversions before RMDs kick in?
  • What happens if the market drops significantly in my first year of retirement?
  • How do my IRMAA surcharges change based on my withdrawal strategy?

If your current tool can't answer these questions, it's time to upgrade. Start with Bullseye's free projections and see the difference that comprehensive, tax-aware planning makes.

See the Difference for Yourself

Run your own personalized retirement projection with Bullseye — free.

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Frequently Asked Questions

The best retirement planning software provides year-by-year projections (not just an endpoint number), models federal and state taxes accurately, handles multiple account types with tax-efficient withdrawal ordering, supports couples planning, and offers scenario testing for what-if situations. Tax awareness is the single most important feature — it's what separates planning tools from simple calculators.

Yes — free doesn't mean unreliable. Bullseye uses the same IRS tax brackets, RMD tables, Social Security formulas, and IRMAA thresholds as any paid tool. The quality of your results depends on the accuracy of the data you enter (account balances, expected returns, expenses), not whether you paid for the software.

It depends on your situation. For straightforward retirement planning — optimizing withdrawals, Social Security timing, tax strategies — a comprehensive tool like Bullseye can handle it. For complex situations involving estate planning, business ownership, insurance products, or major life changes, a qualified financial advisor adds value. Many people use both: run their own projections for the numbers, and consult an advisor for broader financial strategy.

At minimum, review and update your projections annually — ideally after tax season when you have accurate numbers. Also update whenever there's a major change: account balance shift of 10%+, new income source, change in expenses, or a life event (marriage, health change, inheritance). The beauty of digital planning tools is that updating takes minutes, not hours.

For people within 10 years of retirement, the most impactful features are: (1) Social Security optimization — the timing decision alone can be worth $100K+ for couples, (2) Roth conversion analysis — the window between retirement and RMDs is the biggest tax planning opportunity, (3) withdrawal order optimization — drawing from accounts in the right sequence can save $50K+ in taxes over a retirement, and (4) scenario testing — stress-testing your plan against market downturns and unexpected expenses.

For the analytical and projection aspects of retirement planning, yes. Modern tools like Bullseye can run more detailed projections than many advisors do manually. However, advisors provide value beyond calculations: behavioral coaching, estate planning guidance, insurance recommendations, and accountability. The best approach for many people is using planning software for the numbers and an advisor for the broader strategy.

Free Calculators

Social Security Estimator RMD Calculator IRMAA Calculator

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