Planning for retirement in 2025 demands up-to-date information and reliable tools. The right free retirement assessment software can clarify your next steps and help you gain confidence in your future plans. Individuals over 50—especially those with significant retirement savings—often face complex questions about income, investments, and taxes.
Fortunately, a range of no-cost, online calculators and assessment platforms make it easier than ever to understand your readiness, identify potential income gaps, and fine-tune your strategy before taking action.
This article highlights 11 of the top free retirement assessment tools available for 2025. Each tool brings a unique approach to analyzing your savings, spending, and future goals. The list covers both general platforms and those, such as Calamita Wealth Management, designed for affluent retirees seeking personalized and fiduciary advice.
Quick Comparison: 11 Free Retirement Assessment Tools for 2025
| Tool | Main Features | Ideal For | Link |
|---|---|---|---|
| Calamita Wealth Management’s Free Assessment | Personalized projections, tax insights, income strategy | Affluent individuals 50+ | Calamita Wealth Management |
| Fidelity’s Retirement Score | Readiness score, custom savings/expense modeling | All individuals planning for retirement | Fidelity |
| Vanguard Nest Egg Calculator | Longevity estimates, spending/investment scenarios | Individuals prioritizing savings lifespan | Vanguard |
| Schwab Retirement Calculator | Future projection, scenario comparisons | Scenario-based planning | Schwab |
| T. Rowe Price Retirement Income Calculator | Monthly and annual income forecasts | Income-focused retirees | T. Rowe Price |
| NewRetirement Planner | Comprehensive, customizable planning | Detail-oriented planners | NewRetirement |
| Personal Capital Retirement Planner | Real-time tracking, dynamic goal modeling | Integrated account users | Personal Capital |
| Empower Retirement Calculator | Income gap visualization, drawdown modeling | Optimizers of withdrawals | Empower |
| SmartAsset Retirement Calculator | Local cost factors, Social Security/annuity insights | Those comparing by location | SmartAsset |
| Bankrate Retirement Income Calculator | Simple projection, scenario analysis | Quick income/expenditure review | Bankrate |
| AARP Retirement Calculator | Accessible forecasts, Social Security and spending | Older Americans, simplicity seekers | AARP |
Use this table as a reference point as you read, and identify which platforms best suit your planning style and retirement outlook.
1. Calamita Wealth Management’s Free Retirement Assessment
For individuals over 50 aiming to approach retirement with clarity, Calamita Wealth Management offers a free, highly personalized retirement assessment. This tool focuses on the needs of affluent pre-retirees who prioritize income certainty, tax efficiency, and risk management. From the start, the assessment takes into account your assets, projected expenses, and targeted retirement date to generate custom scenarios based on your unique situation.
Key Features of Calamita Wealth Management’s Retirement Assessment
- Customized Projections: Receive detailed outlooks for cash flow, retirement income, and potential shortfalls, letting you see how your current savings align with future goals.
- Tax Strategy Insights: Analyze tax-efficient withdrawal approaches, potential Roth conversion opportunities, and estimate how taxes impact your lifestyle in retirement. For additional details, visit our Tax Planning page.
- Actionable Recommendations: Get specific steps for optimizing Social Security timing, managing investment risk, and adjusting spending or savings for greater sustainability.
This no-cost assessment stands apart by combining personal planning with direct access to a Certified Financial Planner®. The process suits individuals navigating complex financial situations, serving those who want to understand not just whether they can retire, but how to maximize their income and minimize unexpected surprises. To learn more, visit Calamita Wealth Management.
2. Fidelity’s Retirement Score
Fidelity’s Retirement Score offers a fast way to gauge your overall retirement readiness. The tool uses a clear scoring system to show how prepared you are for retirement based on your current savings, expected future contributions, and estimated expenses. This intuitive tool helps you see whether you’re on track—or need to adjust your strategy—to reach your ideal retirement lifestyle.
When you use Fidelity’s tool, you provide information such as your age, income, account balances, contribution rates, and estimated retirement age. The tool then creates a custom Retirement Score. This score reflects your projected ability to cover retirement expenses, making it easy to interpret where you stand.
Fidelity also provides suggestions on how to improve your score. For example, you might see recommended changes in savings rates, adjustments in investment strategy, or ideas for rethinking retirement spending. This feedback is practical and aims to help people of all ages get closer to their financial goals. Many find integrating advice from independent planners, such as Calamita Wealth Management, a valuable next step when they want deeper, fiduciary insight after using basic online calculators. For a comprehensive look into creating a retirement strategy, see our page on Retirement Planning.
3. Vanguard Retirement Nest Egg Calculator
Vanguard’s Retirement Nest Egg Calculator stands out for its simplicity and accessibility. Anyone can use this free tool to estimate how long their retirement savings could reasonably last. It only asks for four main pieces of information: current portfolio value, expected annual spending, years you want your funds to last, and your chosen investment risk level.
Key Functionalities
- Easy-to-use interface, with sliders and drop-down selectors that make adjustments quick and straightforward
- Scenario planning based on variable annual returns, so you can compare optimistic, conservative, and moderate assumptions side by side
- Visual projections display the likelihood that your savings will last, allowing you to quickly grasp the impact of higher spending or lower risk tolerance
The calculator’s approach is especially helpful for those focused on balancing lifestyle needs and investment risk in retirement. By changing spending or investment selections, you see the direct effect on your probability of portfolio success. For anyone seeking practical insight rather than detailed analysis, it’s a reliable resource. Try it at Vanguard for no-cost longevity forecasting.
4. Schwab Retirement Calculator
Visualizing Your Financial Future with Schwab Retirement Calculator
The Schwab Retirement Calculator offers a straightforward platform for evaluating your retirement strategy. Users enter details like age, savings, expected retirement date, and investment approach. The tool generates projections informed by historical market performance and user profiles, allowing you to see how your resources could last throughout your retirement years.
A key strength is the ability to compare different investment strategies and savings plans. Adjust assumptions such as annual return rate or contribution levels and instantly see the resulting impact on your retirement balance. This makes it easier to test scenarios such as delaying retirement or increasing savings, giving you more control over your long-term financial plan. If you’re interested in expanding your knowledge of portfolio management, discover our services in Investment Management.
- Visualize projected income streams based on real-time inputs
- Test alternative withdrawal rates and asset allocations
- Refine your retirement targets as your needs evolve
Schwab’s calculator is well-suited for those who wish to see side-by-side outcomes of conservative or aggressive investment choices. If your situation is complex or you want ongoing guidance for evolving plans, services from a retirement-focused fiduciary planner like Calamita Wealth Management can provide personalized recommendations on top of the insights this tool delivers.
5. T. Rowe Price Retirement Income Calculator
T. Rowe Price offers a practical retirement income calculator that provides detailed forecasts for both monthly and annual retirement income. The tool guides users through a series of questions on age, target retirement date, savings balance, and expected contributions. The calculator then uses your responses to estimate how much you could withdraw each year without risking shortfalls, factoring in both investment returns and inflation.
One useful feature is its integration of Social Security benefits. You can enter your planned claiming age and estimated benefit, and the calculator will show how Social Security fits into your retirement plan. This approach helps you see the relationship between portfolio withdrawals, investment growth, and guaranteed income sources—giving a realistic preview of potential cash flow in retirement. Learn more about optimizing your withdrawals with our Retirement Income strategies.
- Forecasts income under various market conditions
- Allows for adjustments to contribution rates and retirement age
- Shows the impact of Social Security alongside investment income
Accessing the tool at T. Rowe Price makes it simple to experiment with different scenarios and compare how small changes could affect your financial security in retirement. For those seeking extra clarity, combining insights from this calculator with guidance from a fiduciary planner helps ensure that every income source and risk is fully considered.
6. NewRetirement Planner
NewRetirement offers a comprehensive online planner for those seeking deeper control and insight into their retirement outlook. Unlike more basic calculators, this tool lets you review and adjust a wide range of planning factors in one place. You can model cash flow year-by-year, see how housing changes might affect your finances, and include important variables like inflation, health care, and long-term care needs. These features help you understand the real impact of key life decisions on your retirement security.
This planner excels with its customizable scenarios. You can test different “what if” situations — such as retiring earlier, downsizing your home, or facing unexpected care costs. The platform also supports Social Security timing strategies and withdrawal plans. Long-term users value how the tool presents outcomes visually and summarizes strengths or vulnerabilities in your plan.
If you want to run complex scenarios that extend beyond investment growth, NewRetirement stands out among free tools. Many detail-oriented planners use its insights to prepare for advisor meetings or to compare personalized advice from firms like Calamita Wealth Management with independent online analysis. If Social Security optimization is a priority, see our approach to Social Security Timing.
7. Personal Capital Retirement Planner
Personal Capital’s free retirement planner stands out for its ability to connect with your real financial accounts and deliver up-to-date projections. By linking your bank and investment accounts, the tool gathers accurate data on balances, contributions, and cash flow, streamlining the process of evaluating your overall retirement outlook. As your accounts update, the retirement projections automatically adjust, giving you an ongoing, clear picture of your financial landscape.
Dynamic Goal Modeling and Scenario Testing
The standout feature is its dynamic goal modeling. You can input different retirement ages, desired income amounts, and other life events to see how those changes influence your plan over time. The planner displays a timeline of your projected portfolio value and shows where you might experience an income shortfall. You can also test the impact of varying market conditions or new savings habits. If you’re unsure if our services are aligned with your needs, check Are We A Match?
Personal Capital appeals to those who want a data-driven and interactive way to monitor progress and refine their strategy as circumstances change. While the insights are robust, individuals with highly complex situations or large portfolios may want to combine these projections with advice from a retirement-focused advisor such as Calamita Wealth Management for additional clarity and personalized strategies.
8. Empower Retirement Calculator
Empower’s Retirement Calculator offers a clear framework for checking your retirement plan against potential income shortfalls and evolving needs. By entering your age, savings, future contributions, and planned retirement age, the calculator outlines whether your projected income will meet your desired spending. This immediate visualization helps you spot income gaps early, so you can adjust savings or retirement age before committing to a plan.
Key Strengths of Empower’s Calculator
- Income Gap Analysis: The tool shows you the difference between expected income and expenses, helping you prepare for possible shortfalls ahead of time.
- Contribution Modeling: You can easily test how changes in yearly contributions or investment growth may help close gaps and improve long-term security.
- Drawdown Strategy Insights: Empower helps visualize different withdrawal scenarios from retirement accounts, enabling you to optimize the order and timing of distributions.
For those who want to refine their strategy and ensure their drawdown plan is efficient, pairing Empower’s insights with ongoing, fiduciary support from a retirement planner can provide a deeper level of personalization and peace of mind. Try the Empower calculator at Empower to see how small changes today might improve your retirement security.
9. SmartAsset Retirement Calculator
SmartAsset’s Retirement Calculator stands out for its quick setup and simple design, guiding users through a few guided questions to generate a detailed outlook. The tool considers your savings, current age, target retirement age, income goals, and investment horizon. Next, the calculator factors in where you live in the United States, which helps paint a more realistic picture by adjusting for regional cost-of-living variations.
Key strengths include the integration of Social Security claiming options and the ability to add annuity income. You can test different scenarios by shifting retirement ages or adjusting annual spending. The results chart your projected savings over time, highlighting years when funds may fall short and where Social Security or other income streams provide support.
The SmartAsset Retirement Calculator appeals to those who want a clear, location-specific forecast without complex data entry. While it delivers actionable numbers for basic planning, individuals with larger assets or tax complexities often combine its estimates with guidance from a Certified Financial Planner® for a complete strategy. This layered approach is particularly relevant for those facing multiple income sources or considering moves in retirement. For more insights on retirement scenarios, consider reading “How much do I need to retire?“
10. Bankrate Retirement Income Calculator
Bankrate’s Retirement Income Calculator offers a practical solution for anyone who wants fast, clear answers about their retirement income and post-retirement expenses.
The interface is simple, requiring only a few essential details—current age, intended retirement age, estimated lifespan, Social Security, savings balances, and expected spending. As soon as you fill in these inputs, the tool generates easy-to-read projections showing your anticipated annual income across retirement years.
An important benefit is the scenario analysis feature. You can adjust variables such as savings rate or estimated investment returns and instantly see how those changes affect your long-term income. This helps you recognize the impact of contributing extra now, postponing retirement for a few years, or adjusting withdrawal rates. The tool breaks down results by year, so you know where you might face funding gaps or have surplus funds available.
While this calculator works well for straightforward “what-if” scenarios and quick checks, individuals with more complex finances—such as layered income sources or advanced tax planning needs—often rely on a detailed assessment through Calamita Wealth Management for added precision and confidence.
If you’re exploring ways to save more on taxes in retirement, explore our strategies for reducing taxes in retirement.
11. AARP Retirement Calculator
Simple Planning with AARP Retirement Calculator
The AARP Retirement Calculator provides older Americans with an accessible way to estimate when they can retire and how long their current savings may last. The tool is well-known for its user-friendly approach and plain language, making essential planning steps less overwhelming for those new to online calculators.
To use the tool, users enter basic information such as age, income, marital status, retirement account balances, and planned Social Security claiming age. The calculator projects potential retirement income from savings, pensions, and expected Social Security benefits, helping you visualize if your future spending needs are likely to be met. If there appears to be a shortfall, the tool gives straightforward suggestions for adjusting contributions or delaying retirement to close the gap.
One advantage is its immediate feedback about essential choices like when to claim Social Security or how changing retirement age can affect benefits and lifestyle. While it offers accessible guidance, those with more complex situations or significant assets may want to supplement these results with personalized advice from a Certified Financial Planner® for added peace of mind.
Choosing the Best Free Tool for Your Retirement Goals
Finding the right retirement assessment tool depends on how you approach planning and the level of detail you need. Some tools focus on basic projections while others support deeper scenario analysis. Start by identifying what matters most—whether it’s projecting cash flow, understanding the impact of taxes, or modeling different retirement ages. This will narrow your options.
Practical Tips for Selecting Your Tool
- If you prefer simplicity or want a fast check on progress, tools like the Bankrate Retirement Income Calculator or Fidelity’s Retirement Score deliver clear answers with minimal input.
- For in-depth analysis, choose tools such as the NewRetirement Planner or Personal Capital Retirement Planner to explore complex scenarios, cash flow, and integrated account tracking. For real-life examples of planning strategies, see our Case Studies.
- If your circumstances are unique, using multiple tools can highlight different strengths and provide a fuller picture.
For those seeking unbiased, personalized guidance, consider a free assessment through Calamita Wealth Management. Pairing the results of online calculators with fiduciary advice can help build a well-rounded, confident retirement plan.
Conclusion: Take the Next Confident Step Toward Retirement
Building a Confident Future with Ongoing Assessment
Consistent retirement assessment remains essential for anyone approaching or enjoying retirement. The tools featured above help clarify your current position and highlight actions you can take to sustain your desired lifestyle.
By checking your progress regularly, you are more likely to spot income gaps, tax opportunities, or shifts in your spending needs before they become urgent. Every tool offers a different perspective—whether it is quick estimates, detailed scenario analysis, or integration with live account data—so leveraging several in tandem gives a more rounded view.
Staying engaged with your retirement planning means more than running numbers once. The landscape of taxes, investments, and retirement benefits can shift each year. Making updates to your plan annually—especially after life changes or new legislation—reduces the risk of costly surprises. Several calculators, such as those from Fidelity or NewRetirement, make it easy to adjust assumptions and re-run projections as your situation evolves. Ready to begin your journey? Get Started with your retirement planning today.
For individuals with significant assets, evolving tax strategies, or layered income sources, integrating personal guidance is often a wise next step. Calamita Wealth Management offers tailored support that goes far beyond what online calculators can provide. A one-on-one retirement assessment with a Certified Financial Planner® delivers deeper insight into topics like tax minimization, Social Security timing, and portfolio risk. You receive clear, actionable steps calibrated to both your goals and your financial reality. This approach helps reinforce confidence and simplifies decisions as you transition into retirement and beyond.
