NewRetirement vs MaxiFi 2024: Which one is worthwhile?

Jeremy Biberdorf
By: Jeremy Biberdorf
 

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In the realm of retirement planning, selecting the right tool can be an overwhelming task. Two platforms that frequently emerge in conversations are NewRetirement and MaxiFi. This article aims to compare these two giants and help you identify which one is more tailored to your retirement goals.

For more detailed analysis of NewRetirement check out our full NewRetirement review.
NewRetirement is Better for:MaxiFi is Better for:
Detailed retirement calculatorsPlanning for future income
Easy to understand financial planSimulating the standard of living
Personal capital projectionAssessing annual income requirement
Social security optimizationEnsuring financial independence

Introducing the Competitors

NewRetirement

newretirement.com website

NewRetirement, a major player in the retirement planning arena, is geared towards offering tools and resources to help users prepare for a comfortable retirement. It provides easy-to-use retirement calculators, personal capital insights, and optimal Social Security claiming strategies. To understand NewRetirement better, you can check out our full review here.

 

MaxiFi

maxifiplanner.com website

MaxiFi, on the other hand, specializes in financial independence and future income planning. The platform emphasizes preserving your standard of living and assessing annual income requirements. While it boasts numerous features, its complexity may act as a roadblock for some users.

NewRetirement MaxiFi Logo
Service Type Retirement Planning Tool Retirement Planning Tool
Retirement Calculators Comprehensive More complex
Financial Plan Clear and detailed Less user-friendly
Customer Support Those looking for detailed calculators and social security optimization Those focusing on future income and maintaining standard of living
Current Promotion

More Info

Get 14-day free trial!

More Info

Modest Money Overall Rating
5.0 rating based on 5 ratings
4.2 rating based on 5 ratings
NewRetirement
Service Type Retirement Planning Tool
Retirement Calculators Comprehensive
Financial Plan Clear and detailed
Customer Support Those looking for detailed calculators and social security optimization
Current Promotion

More Info

Get 14-day free trial!
Modest Money Overall Rating
5.0 rating based on 5 ratings
MaxiFi Logo
Service Type Retirement Planning Tool
Retirement Calculators More complex
Financial Plan Less user-friendly
Customer Support Those focusing on future income and maintaining standard of living
Current Promotion

More Info

Modest Money Overall Rating
4.2 rating based on 5 ratings

Factor 1: Retirement Calculators

NewRetirement: Comprehensive Calculators

  • MaxiFi: Features Complex Calculators
  • NewRetirement provides detailed and user-friendly retirement calculators for an efficient planning experience.

A comprehensive retirement calculator is a key tool in planning for a comfortable retirement, providing projections on savings, expenses, and potential income.

NewRetirement: Comprehensive Calculators

NewRetirement boasts a range of calculators, each focusing on different aspects of retirement planning like Social Security benefits, rate of return, and life expectancy. Users can adjust multiple variables to get a clear picture of their retirement income, savings, and future expenses. These calculators are more comprehensive and easier to use than MaxiFi’s, making retirement planning less stressful and more efficient.

MaxiFi: Complex Calculators

MaxiFi, while offering calculators for future income simulation and standard of living assessment, is more complex to navigate. Its calculators incorporate a wide range of variables and require a deeper understanding of financial planning.

NewRetirement is better for:

  • Those looking for comprehensive and user-friendly retirement calculators.
  • Those who value detailed insights into retirement income, savings, and expenses.

MaxiFi is better for:

  • Users who are comfortable with more complex financial calculations.
  • Those focusing on future income and maintaining their standard of living.

Factor 2: Financial Plan

NewRetirement: Detailed and User-friendly Plan

  • MaxiFi: Offers Less User-friendly Plan
  • NewRetirement stands out with its intuitive and comprehensive financial plan.

The user-friendliness and depth of a financial plan are critical in easing the process of retirement planning and providing clear and actionable steps.

NewRetirement: Detailed and User-friendly Plan

NewRetirement stands out for its user-friendly and detailed financial planning. It generates a visual roadmap of your retirement goals and suggests strategies to achieve them, considering different income sources and simulating various scenarios for a comprehensive plan.

MaxiFi: Less User-friendly Plan

MaxiFi, while comprehensive, provides a less user-friendly financial plan. It focuses on optimizing consumption and savings decisions to maintain the standard of living throughout retirement. This approach may be less intuitive for some users, especially those new to financial planning.

NewRetirement is better for:

  • Those seeking a clear, detailed, and user-friendly financial plan.
  • Those who value visual roadmaps and simulated scenarios for retirement planning.

MaxiFi is better for:

  • Users who are comfortable with complex financial plans.
  • Those focusing on consumption and savings optimization.

Factor 3: Social Security Optimization

NewRetirement: Effective Optimization

  • MaxiFi: Offers Limited Optimization
  • NewRetirement takes the lead with its tailored strategies for optimizing Social Security benefits.

The optimization of Social Security benefits is a crucial aspect of retirement planning, significantly impacting a retiree’s standard of living and overall financial independence.

NewRetirement: Effective Optimization

NewRetirement goes above and beyond in optimizing Social Security benefits. It provides tailored strategies based on personal information and retirement goals, helping users maximize their benefits.

MaxiFi: Limited Optimization

While MaxiFi incorporates Social Security benefits in its calculations, it doesn’t specifically focus on optimizing these benefits, making it less efficient in this regard compared to NewRetirement.

NewRetirement is better for:

  • Those seeking to maximize their Social Security benefits.
  • Those who value tailored strategies for benefit optimization.

MaxiFi is better for:

  • Users who prefer a tool that incorporates Social Security in its calculations, but don’t need specific optimization.

External Customer Reviews & Ratings

External NewRetirement Reviews & Ratings

SiteRating
Google My Business5
Financial Samurai5
Retire Before Dad4.7
The College Investor4.5
My Millennial Guide4.5
Best Wallet Hacks4.5

External MaxiFi Reviews & Ratings

SiteRating
Moneywise3.5

The Verdict: NewRetirement Shines Brighter

Both NewRetirement and MaxiFi offer unique features to cater to different retirement planning needs. However, NewRetirement shines brighter due to its comprehensive retirement calculators, user-friendly financial plan, and effective Social Security optimization. It provides a simplified and efficient platform, making retirement planning less daunting, especially for those new to the process.

MaxiFi, on the other hand, may be better suited to those who are comfortable with complex financial calculations and prioritize future income and maintaining their standard of living.

Regardless of the platform you choose, it’s vital to ensure it aligns with your retirement goals and comfort level with financial planning. However, if you’re seeking an intuitive platform with comprehensive features, sign up for NewRetirement today. Don’t forget to conduct your due diligence to ensure the platform aligns with your retirement goals and financial planning comfort level.

Learn More About NewRetirement


Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He’s a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.