it was ok but you had very few controls over the way you spend your money, etc. So its useful as a guide but nothing more.
Bedrijf heeft geantwoord
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Lees wat reviewers zeggen
It seems a comprehensive system that includes all the details required including partner's. BUT, the output document and figures do not make sense what so ever! You suggest that we continue to save a... Toon meer
Bedrijf heeft geantwoord
I only have the free version at present. This only gives a high level overview of how our retirement may pan out. However the insights are still very helpful. I can see us paying so we get e... Toon meer
Bedrijf heeft geantwoord
I had fun playing with this retirement model but in the end got a bit frustrated that the model increases discretionary spend and you can't reduce it without subscribing. In any case a lot of fun!
Bedrijf heeft geantwoord
Bedrijfsgegevens
- Alternatieve financiële diensten
- ook in
- Financiële audit
- Financiële planner
- Niet-bancaire financiële diensten
- Pensioneringsprogramma aanbieder
Geschreven door het bedrijf
EvolveMyRetirement is a unique, powerful, independent and unbiased financial planning and cash flow calculator. We take the guesswork out of planning for the future, whilst taking uncertainty into account using Monte Carlo Simulation. There's no need for trial and error, as our app optimises your plan using an advanced Genetic Algorithm. Most online retirement calculators ask you to predict your retirement needs, like your income, your spending, and even how long you expect to live. We, on the other hand, consider that determining this is the our job, not yours. Our approach is to come up with a strategy that balances income and discretionary spending both before and after retirement. It takes into account all relevant information that you provide, including income, expenses, assets and liabilities. Our optimisation approach is based on the results of stress-testing your plan using Monte Carlo Simulation. Optimisation takes into account your attitude to risk, and preferences such as the desire to leave a legacy. Your life expectancy is randomised based on mortality tables from the Office for National Statistics. Because the information you enter is saved, you can adjust it at any time to get the most up-to-date picture of your expected financial future.
Contactgegevens
Suite 1b1 Argyle House, Northside, Joel Street, HA6 1NW, Northwood, Middlesex, Verenigd Koninkrijk
- 0333 444 3499
- support@evolvemyretirement.com
- evolvemyretirement.com
3,2
Gemiddeld
37 reviews
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First impression is very good
First impression is very good. interesting. Looks like a good approach and will play with it alongside a more traditional cashflow analysis.
28 december 2022
Antwoord van EvolveMyRetirement
Thank you very much Giulio. We hope you'll continue to reap the benefits.
Antwoord van EvolveMyRetirement
Mark, we're sorry that you found the results of our app too vague. Short of giving specific investment product advice, which is outside of our scope, it would be helpful for us to understand what you felt was missing. Please feel free to contact us with any specific queries or suggestions. We're always looking for ways to improve our app.
Good Service!
30 mei 2022
Antwoord van EvolveMyRetirement
Thank you very much Fabio. Pleased to be of service!
Brilliant retirement planning tool - just get it.
Until I discovered EvolveMyRetirement, I had been planning my retirement in a spreadsheet and relying on the 4% "rule of thumb" for drawdown while making my best guess at the optimum retirement saving and drawdown strategies.
EvolveMyRetirement is a game-changer - it is a brilliant tool that will find an optimum strategy for your circumstances. It provides deep insight into questions such as;
1) Am I saving enough?
2) How much can I safely drawdown?
3) Which sources of income should I draw on?
and many more.
The support from the company is excellent with responsive replies to questions and feedback.
It is a powerful tool which is very user-friendly for what it does. Of course it still requires a reasonable degree of financial and numerical knowledge to use, but if you can use a spreadsheet you should be fine.
Given what it does, the paid version is an absolute bargain, even if (or especially if) you intend to employ a financial advisor to plan your retirement. Highly recommended.
4 april 2022
Review zonder uitnodiging
Antwoord van EvolveMyRetirement
Thank you very much for your detailed review. We're delighted that you find our tool so useful.
Straightforward & helpful
Straightforward & helpful to assess how reasonable spending can potentially ensure a dignified retirement.
2 februari 2022
Antwoord van EvolveMyRetirement
Thank for your review Alex, and it's great that you've found it helpful. Yes, spending is certainly the key.
Excellent tool
Excellent tool. It helps me clearly understand my spending in relation to my retirement savings.
Highly recommended...
24 december 2021
Review zonder uitnodiging
Antwoord van EvolveMyRetirement
Thank you very much for your review, and for using our app.
I find this to be a really useful aid…
I find this to be a really useful aid in comparing different approaches and seeing difference in realistic outcomes. it’s so important to see the distribution of potential outcomes rather than just an average.
In terms of addressing sequencing risk et cetera, it’s so important to understand the path dependent nature of return versus withdrawal.
7 december 2021
Antwoord van EvolveMyRetirement
Andrew, thank you very much for your review. It's good to know that out planning tool is proving helpful.
Antwoord van EvolveMyRetirement
Richard, I'm sorry you feel this way. We're continually improving our offering, but we recognise that we can't meet everyone's requirements. Many of our users find our app very useful. Your comments don't really give any clue as to what you found lacking, or what you would like to see in such a service. Please feel free to reach out to us (see our contact page) if we can be of any assistance.
Good useful tool
I found this a very useful and easy to use tool.
The time it takes to input spending and other data will depend on how granular the user want to be.
This is the only UK-retail app I found that can run multiple (monte carlo) simulations varying spending, investment returns etc.
I will continue to use it periodically to review my retirement situation.
3 november 2021
Antwoord van EvolveMyRetirement
Thanks very much for your review Mike.
A useful retirement planning tool based on a probabilistic approach
A useful tool based on a probabilistic approach to the financial side of retirement planning (both before and during retirement). It’s quite complex, although the results obtained are presented in a simple and relatively easily understood way. It represents good value, providing that the time is taken to understand it properly before use (otherwise credits may be wasted unwisely).
Some minor gripes and requests:
I’m not sure why the software increases my initial discretionary spending beyond what I had specified, but then calculates a not totally trivial probability of running out of funds later on?
Can the Lifetime Allowance tax charge, if applicable, be listed separately in the results table for clarity and the % by which the limit is exceeded given? LTA planning (or worrying about it) is becoming a big issue these days, and I’m not sure if the software includes the additional check on growth of funds in drawdown at age 75.
9 september 2021
Antwoord van EvolveMyRetirement
Thanks very much for your review, dab, and for your constructive comments.
On the subject of complexity, of course financial and retirement planning is inherently complex, with much of the complexity resulting from uncertainty. Most online tools ignore uncertainty (along with many other complexities), and we believe this is dangerous and misleading. Our goal was not to offer a simplistic solution, but rather a simple way to navigate through a highly complex problem. You're completely right in that it's worth investing some time understanding our tool to get the most out of it.
The level of discretionary spending is a measure of quality of life. Yes, the best things in life are free, but we still tend to hanker after the second-best things! When you enter your current level of discretionary spending under the expenses, the program doesn't assume that it's optimal. Depending on your plan settings for risk and legacy, it may conclude that a higher level of discretionary spending is 'safe'. Safety is partly having a low probability of running out of money, but the system also takes into account how close to the end of life those (hopefully) rare cases of insolvency are. For example, in a scenario where you live 30 years, and you run out of money in year 29, then technically that's insolvency, but in practice you'd almost certainly have time to make the necessary adjustments to avoid it. At the other extreme, a scenario where you live 10 years and run out of money in year 2 would present a real problem. The optimiser takes these nuances into account, but of course you may still disagree. Premium users have the ability to lock a strategy setting, for example discretionary spending, so that the optimiser will treat it as fixed.
Thank you for your suggestion about listing the LTA separately from other taxes: we'll look into this. Regarding growth of drawdown funds, I believe you're referring to the rule 'BCE 5A'. The program does indeed take this rule into account, along with the other relevant BCE rules.
Great retirement planning modelling tool
Best retirement planning modelling tool I’ve come across, responsive support and constant updating to provide even better analysis
9 september 2021
Antwoord van EvolveMyRetirement
Thanks Al. We continue to strive for improvements!
A great tool to help understand how…
A great tool to help understand how your retirement pot will perform.
8 augustus 2021
Antwoord van EvolveMyRetirement
Thank you Dave.
Very clever system indeed
Very clever system indeed. Computes the most valuable financial planning information you need in your life at a tiny fraction of 1% of the cost of a financial adviser or wealth manager.
3 augustus 2021
Antwoord van EvolveMyRetirement
Thank you very much Olliver, really glad you find it valuable. Whilst our app isn't meant to replace the human touch of a professional, if you use it sensibly it provides good (and unique) guidance.
Proved to be a very useful programme…
Proved to be a very useful programme for retirement planning. Excellent and rapid response to queries. Programme improvements and additions made on a regular basis.
1 augustus 2021
Antwoord van EvolveMyRetirement
Thank you Phil, really glad you find it useful.
EvolveMyRetirement - best retirement planning web tool out there
I love this tool and use it regularly to test various retirement scenarios to give me confidence that my funds will last and to help me plan the retirement we want/can have.
I have spoken to Nick, who develops and runs the site a couple of times and he has been very helpful.
I don't think there is a better retirement scenario planning tool out there.
27 juli 2021
Review zonder uitnodiging
Antwoord van EvolveMyRetirement
Thanks very much for your vote of confidence, Ed. By the way, your direct communication with Nick was most helpful, and it prompted us to improve the tool further.
Antwoord van EvolveMyRetirement
So glad you're finding it useful, plord: thanks.
I found this and signed up it has…
I found this and signed up it has helped me to work out how much my pension and private pension could pay out combined and how much will be left when I die in the pot
27 juni 2021
Antwoord van EvolveMyRetirement
Many thanks for your review John, and we're very pleased our app has met your needs.
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