What are the main differences between retirement modelling tools?

The tools differ in their underlying modelling philosophies, including strategy-driven modelling, rule-based withdrawal plans, probability-based modelling, interactive scenario modelling, fixed FIRE-style projections, and deterministic cashflow modelling.

Do all tools support Monte Carlo simulations?

No. Some tools include stochastic stress-testing using Monte Carlo simulations, while others use deterministic projections without uncertainty modelling.

What is strategy-driven modelling?

Strategy-driven modelling focuses on modelling retirement strategies rather than fixed projections, often using optimisation to balance risk and reward under uncertainty.

What is probability-based modelling?

Probability-based modelling presents outcomes in terms of probabilities, such as the likelihood of meeting spending goals or sustaining a portfolio over time.

What is interactive scenario modelling?

Interactive scenario modelling allows users to build and explore retirement scenarios manually, often using timeline-based events and visual experimentation.

Which tools support collaboration?

Collaboration features vary across tools. Some support shared plans or advisor access, while others are designed for individual use only.

Do all tools model UK tax rules?

No. Some tools include UK-specific tax modelling for pensions, income, and withdrawals, while others use simplified or non-UK tax assumptions.

Do any tools include longevity modelling?

Some tools include longevity assumptions or modelling, while others rely on fixed lifespans or user-defined end ages.

How do tools differ in spending modelling?

Spending modelling varies by tool, including differences in how spending items are defined, how they change over time, and whether they are linked to uncertainty or dynamic adjustments.

Comparison Of UK Retirement Modelling Tools

Criterion	EvolveMyRetirement	Guiide	RetireEasy	FIRElogic	WealthR	ProjectionLab (UK)

Modelling approach	Monte Carlo simulation Deterministic scenarios	Deterministic projections	Deterministic projections	Deterministic projections	Monte Carlo simulation	Monte Carlo simulation Deterministic projections (optional)
Uncertainty coverage	Investment returns Property valuation Employment bonuses Inflation Longevity Long-term care Inheritances	N/A	N/A	N/A	Real investment returns	Investment returns Inflation
Dynamic adjustments	Optional spending adjustments based on net‑worth performance	N/A	N/A	N/A	None	Optional spending adjustments based on liquid‑assets performance Optional dynamic withdrawal strategies
Underlying philosophy	Strategy‑driven modelling Dynamic optimisation balancing risk and reward Stochastic stress-testing	Rule‑based withdrawal plan Tax-efficient income planning	Lifetime cashflow modelling	Fixed FIRE‑style projections Tax-efficient planning	Probability-based modelling Stochastic stress-testing	Interactive scenario modelling Stochastic stress-testing
Tax modelling depth	Detailed UK‑specific tax modelling Handles Scottish tax bands	Detailed UK‑specific tax modelling Handles Scottish tax bands	Partial UK‑specific tax modelling	Detailed UK‑specific tax modelling Handles Scottish tax bands	Detailed UK‑specific tax modelling Handles Scottish tax bands	Partial tax modelling
Asset coverage	DC pensions DB pensions State pension ISAs Taxable investments Properties Other tangible assets Inheritances Life insurance	DC pensions DB pensions State pension ISAs Properties	DC pensions DB pensions State pension ISAs Taxable investments Properties Other tangible assets Inheritances Life insurance	DC pensions DB pensions State pension ISAs Taxable investments Properties	DC pensions DB pensions State pension ISAs Taxable investments Properties Other tangible assets	DC pensions State pension ISAs Taxable investments Properties Other tangible assets Inheritances Life insurance
Spending	Essential vs discretionary Optional dynamic adjustments to discretionary Optimises starting discretionary	Essential vs discretionary Fixed Warnings in case of essential shortfalls	Fixed	Fixed	Fixed	Essential vs discretionary Optional dynamic adjustments to discretionary
Retirement stage support	Pre: strong Post: strong	Pre: basic Post: strong	Pre: basic Post: strong	Pre: strong Post: strong	Pre: strong Post: strong	Pre: strong Post: strong
Income sources	Employment Self‑employment Rentals Investments Pensions (DC, DB, State, annuities) Other taxable Other non-taxable One-off	Employment Rentals Investments Pensions (DC, DB, State, annuities) Other taxable Other non-taxable	Employment Self‑employment Rentals Investments Pensions (DC, DB, State, annuities) Other taxable Other non-taxable One-off	Employment Self‑employment Rentals Investments Pensions (DC, DB, State, annuities) Other taxable Other non-taxable One-off	Employment Self‑employment Rentals Investments Pensions (DC, DB, State, annuities) Other taxable Other non-taxable One-off	Employment Self‑employment Rentals Investments Pensions (DC, DB, State, annuities) Other taxable Other non-taxable One-off
Public API	REST API Full feature set	None	None	None	None	Client‑side JavaScript plugin API wrapping private REST API Full feature set
Assumptions	Editable: inflation, fallback borrowing rates, investment growth, property growth, spending rules, long-term care rules Fixed: fiscal rules, mortality tables, annuity rates, modelling heuristics Published: yes	Editable: preset bands for inflation and investment growth Fixed: property growth, fiscal rules, pension rules, modelling heuristics Published: yes	Editable: inflation, investment growth, property growth, tax bands, preset end-age Fixed: fiscal rules, pension rules, modelling heuristics Published: high-level	Editable: inflation, investment growth Fixed: fiscal rules, pension rules, longevity end-age, modelling heuristics Published: yes	Editable: inflation, investment growth, preset end-age Fixed: fiscal rules, pension rules, modelling heuristics Published: yes	Editable: inflation, investment growth, property growth, preset end-age Fixed: fiscal rules, pension rules, modelling heuristics Published: yes
Longevity	Stochastic (mortality tables) Adjustable biological age Joint-life support Applied to inheritances	Deterministic end-age	Deterministic end-age	Deterministic end-age	Deterministic end-age	Deterministic end-age	Deterministic end-age
Long-term care	Stochastic onset Editable annual cost Integrated with cashflow	Deterministic onset Editable annual cost Integrated with cashflow	None	None	None	None
Multiple plans supported	✓	✗	✓	✓	✓	✓	✓
Pricing	Free tiers Paid tiers: annual subscription Feature gating Usage limits	Free only	Paid only: annual subscription Feature gating Usage limits	Free trial Single paid tier: annual subscription	Free tier Free trial of paid tier Single paid tier: monthly or annual subscription Feature gating	Free tier Paid tiers: annual subscription Feature gating Usage limits
Couples supported	✓	✗	✓	✓	✓	✓	✓
Cashflow detail level	High	Medium	Medium	Medium	Medium	High
Ease of use	Advanced configuration	Guided	Free-form	Free-form	Free-form	Advanced configuration
Optimisation / strategy generation	✓	✗	✗	✗	✗	✗
Portfolio rebalancing	✓	✗	✗	✗	✗	✓
Future annuity purchases	Determined dynamically	Not supported	Not supported	Not supported	Not supported	Specified in advance
Collaboration	Plan sharing Plan transfer	Adviser panel (paid)	None	None	None	Read-only account sharing	None
Documentation and support	Online documentation AI assistant Human support (flexible)	Structured online documentation Video tutorials Human support (email)	Online documentation Video tutorials Human support (tiered)	Limited online documentation Human support (email)	Online documentation Video tutorials Human support (email)	Structured online documentation Video tutorials Human support (email) Community forum Paid 1-on-1 sessions