Retire Logix, a slick retirement planning application for mobile devices
I wrote about last year when it came out on the iPhone, is now going to link to the Financial Planning Association's PlannerSearch service.
It sounds like a great point of possible synergy.
The FPA and Finance Logix, a division of Oltis Software LLC and the creator of Retire Logix, announced the partnership in a joint prepared statement.
As a result of that collaboration consumer/investor users that download the app (it is available for Android devices, the iPhone, and iPad) can now touch a button and be connected with the FPA PlannerSearch database, which has more than 6,000 member planners, all with the certified financial planner desgination.
When it comes to the versions of the application, there is currently a free version available for both Apple devices as well as Android, but there is also a ‘Pro' version available for the latter.
The Pro version for Apple devices is currently in the approval process with the folks in Cpertino and a Finance Logix spokesman said he expects it to be available in the next three to four weeks.
The major differences between the Pro and free version on all the platforms boil down to a few key features.
For example the Pro version has additional capabilities, including being able to solve for the specific amounts needed to meet a retirement goal.
It also has a pre-retirement planning feature that calculates what contributions will be required to meet retirement goals as well as a college planning feature called College Logix.
The latter has a large database of university college costs. With College Logix a user can type in or search, for current cost information at specific schools and determine future costs for college and the necessary savings rates needed to meet them.
Overall the application has a colorful, inviting, responsive interface that is easy to use (or just play with).
The logic behind its “Money Capsule” page and “Retirement Timeline” charts will be intuitive for most users, young or old, and helps illustrate how different sources of retirement income can cover — or not— an investor's retirement needs and/or desires.
With its abundance of sliders the interface on the capsule page is especially responsive to the touch. A user simply drags his or her finger across the touch screen to change assumptions that in turn alter their situation, whether hypothetical or real, without any manual input.
Simple numeric inputs allow a fair degree of richness to the experience on other pages too.
Among the many assumptions a user can edit and analyze are annual retirement spending, asset values, inflation, social security contributions, and their retirement age.
Oltis reports it has had over 20,000 unique downloads between its various versions of RetireLogix.
“As a nation, we are not prepared for retirement…we believe that mobile technology can communicate in a simple way how financial planning concepts can help investors prepare for retirement and encourage them to work with financial planning professionals to take ownership of their financial futures,” said Oleg Tishkevich, founder and chief executive of Finance Logix, in a prepared statement.
“Our members will benefit from even more exposure via Finance Logix's technology platform and be even more accessible to the general public,” said FPA executive director Marvin W. Tuttle, Jr.
For more information and to view a video demonstration visit
Retire Logix online.
Visit the
FPA Tools & Resources page online where you will find a brief description and a link to the Google play page (at least for the moment that is as far as it goes).
And those looking specifically for the Android app can head directly over to the
Google play page as well (NOTE: there is both a RetireLogix Pro for Android {$1.99} and a free version available there; differences discussed above).
(
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@ddjanowski
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