Retireator
Retireator is a free, open-source retirement simulator written in Microsoft Excel, available on the web and Windows.
What Retireator is
Retireator is a free, open-source retirement simulator written in Microsoft Excel, available on the web and Windows. It is designed for short- and medium-term financial planning, letting users build and compare retirement drawdown strategies across multiple years and income sources. It projects income and savings growth, supports withdrawal planning and scenario analysis, and models Social Security benefits alongside federal and state income taxes. Listed Social Security calculations include spousal and survivor benefits, early-retirement reductions, and delayed-retirement credits. Other modeled factors include wage and consumer price inflation, stocks and bonds, market conditions, employer, self-employment and passive income, defined benefit pensions, debt, and net worth. Portfolio features cover target date funds and 401(k), 403(b), and IRA accounts. Housing tools calculate mortgage payments and amortization, reverse mortgages, and one-time expenses. The simulator also lists a range of annuity types and tax calculations, including payroll, self-employment, long-term capital gains, annuity, and Social Security taxes. Account synchronization is not included.
Good
- Free and open source.
- Models Social Security and federal and state income taxes.
- Supports multiple income sources and drawdown strategies.
- Includes mortgage and reverse mortgage calculations.
Watch out
- No account synchronization.
- Written in Microsoft Excel.
Who it suits
Retireator suits people planning retirement withdrawals over the short or medium term who want to model different income sources, taxes, benefits, and investment accounts. It is available to users working on the web or Windows.
Verdict
Retireator brings retirement income, taxes, Social Security, and investment scenarios into one simulator. Its Excel format and lack of account synchronization are worth considering before choosing it.
Plans and prices
From Retireator's own pricing page, checked 20 Oct 2026.
| Plan | Price | What it gives you |
|---|---|---|
| Free | Free | free software · Windows Excel workbook · Excel Online limited functionality |
The facts
Each one read from Retireator's own pages, with the date it was checked.
What it does
- Annuities
- Annuity modeling covers life, period-certain, immediate, deferred, fixed, variable, indexed, inflation-adjusted, and joint-survivor arrangements.checked 20 Oct 2026
- Annuity parameters
- Advanced annuity inputs include participation rates, rate ceilings and floors, fees, guaranteed terms, survivor benefits, and cost basis.checked 20 Oct 2026
- Creator
- The project credits Larry Blumer, Jr. as its creator.checked 20 Oct 2026
- Current download
- The download page identifies Retireator v2026.0909 as a 1.31 MB XLSM file and reports 12 downloads.checked 20 Oct 2026
- Dashboard
- The dashboard displays simulation results, lets users set or solve for a retirement date, and records comparisons between successive runs.checked 20 Oct 2026
- Developer adaptability
- The README says the Excel format is intended to remain open and adaptable for developers and non-developers.checked 20 Oct 2026
- Documentation
- The documentation section provides a User’s Guide and a Simulation Parameter Reference.checked 20 Oct 2026
- Economy
- Listed economic features include wage and consumer price inflation, stocks and bonds, and past and future market conditions.checked 30 Sep 2026
- Economy inputs
- The simulator models wage inflation, consumer-price inflation, stocks, bonds, and historical or future market conditions.checked 20 Oct 2026
- Excel Online
- Excel Online is supported with limited functionality.checked 20 Oct 2026
- Expense scheduling
- Users can schedule lump-sum and other one-time expenses in the simulation.checked 20 Oct 2026
- Format
- The simulator is written in Microsoft Excel and is open source.checked 30 Sep 2026
- GitHub license metadata
- The repository page identifies the project as AGPL-3.0 licensed.checked 20 Oct 2026
- Housing and expenses
- Listed expense features include mortgage payment and amortization calculations, reverse mortgage calculations, and lump-sum and one-time expense scheduling.checked 30 Sep 2026
- Income and finances
- Listed income and finance features include employer, self-employment and passive income, defined benefit pensions, debt, and net worth calculation.checked 30 Sep 2026
- Income sources
- Income modeling includes employer, self-employment, passive income, defined-benefit pensions, debt, and net-worth calculations.checked 20 Oct 2026
- Investment strategies
- Portfolio settings include investment strategies such as target-date funds and cost-basis tracking.checked 20 Oct 2026
- License
- The download page distributes Retireator under the GNU Affero General Public License version 3 or later.checked 20 Oct 2026
- Limit: Excel Online
- The browser-based Excel option has limited functionality compared with desktop Excel.checked 20 Oct 2026
- Mortgage tools
- Housing tools include mortgage payments, amortization schedules, principal curtailment, home-value present value, and reverse-mortgage calculations.checked 20 Oct 2026
- Parameter reference depth
- The parameter reference documents simulation inputs across setup, economy, income, portfolio, annuity, expenses, debt, and Social Security categories.checked 20 Oct 2026
Money
- Drawdown planning
- Users can construct and test multi-year retirement drawdown strategies using multiple income sources.checked 20 Oct 2026
- Planning scenarios
- Users can build and test retirement drawdown strategies using different retirement income sources over a period of years.checked 30 Sep 2026
Where it runs
- Limit: macro dependency
- The workbook requires macros for initial setup, which adds an Excel security and compatibility dependency.checked 20 Oct 2026
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