Forbes has released a new app to help you with financial planning. The app lets you input details about your spending habits and lifestyle into a calculator powered by ESPlanner to make assessments about how much you can afford to spend.
The app gives recommendations based on the work of Boston University Professor of Economics Laurence J. Kotlikoff. It includes recommendations for the current year, as well as a lifetime overview.
Here is more from iTunes: “Our calculator can help you raise spending power and make lifestyle decisions. It shows how your living standard is impacted by changing jobs, contributing to retirement accounts, raising children, down-sizing your home, retiring early, waiting to collect Social Security, and more. You can easily test difference scenarios, and share or save your results.”
Matt Schifrin,Vice President & Investing Editor of Forbes Media, stated: “In the wake of the financial crisis and increased volatility in markets, the importance of being able to create a financial plan that will allow you to maintain or improve your living standard through retirement is critical.”