Planswell Expands Free Offering to Retirees

For the first time, retirees can calculate their max retirement income for free in 3 minutes.

TORONTO, Oct. 27, 2023 /PRNewswire/ -- Planswell, the financial startup that has provided free financial planning to over a million working households, has expanded its capabilities to households already living in retirement. To date, the software has been used extensively to model and optimize wealth accumulation across tax efficient investment accounts, insurance and debt for families approaching retirement. Now, people who are already retired can use Planswell to learn how much they can be spending in retirement and how to optimize their retirement plan. Planswell's sophisticated software can often find ways for users to increase their lifestyle while still leaving an estate to their loved ones. 

"Our platform has always modeled asset de-accumulation for our users," said Eric Arnold, Planswell CEO.  "But our calculations were based on income and savings of pre-retirees. Now, we can optimize everything for people who are already in de-accumulation mode. It's a game changer for a huge part of the population."

Checking the box "I'm already retired" at Planswell.com takes users through an entirely new experience that they can complete on their phone in about three minutes. Many retirees learn that they can be spending more in retirement and still outlive their investments by implementing tax efficient planning strategies.

"Since launching in the US just three years ago, we've planned over a quarter trillion dollars in assets for pre-retirees, with an average of $350k per household," said Arnold. "In beta testing for retirees, we've seen the average household assets double to over $600k. We've developed a retirement optimizer that unlocks strategies and opportunities for the average household that have previously been reserved for the wealthiest of the wealthy." 

Planswell has partnered with over 8,000 local professionals who volunteer to assist households with understanding and improving their results. 

"The software is great. We've spent over $30M building it," said Arnold. "But the real magic still happens when someone on our team digs into the results and personalizes it even more. There are some really cool strategies out there that can save people hundreds of thousands of dollars through tax efficiencies, and extend their retirement income by years."

About Planswell
Planswell stands out as a disruptive financial services company, dedicated to providing free and actionable financial planning for all. They aim to democratize access to top-tier financial planning tools, ensuring that everyone can plan their financial future and gain peace of mind. To learn more, visit planswell.com.

For media inquiries or interviews, please contact:
Eric Arnold, Chief Executive Officer | [email protected] | 416-857-4085

SOURCE Planswell Corp.