Table of Contents Hide
- What Is MaxiFi Planner?
- How Does MaxiFi Work?
- What Operating Systems Does MaxiFi Software Work On?
- Does MaxiFi Software Work on iPads, Tablets, or Phones?
- What Are The Pros and Cons of MaxiFi?
- Is MaxiFi Up to Date with The Latest Tax Law Changes?
- Is MaxiFi Legit Or A Scam?
- Writer’s Recommendations
Would you care for a “financial fairy godmother”?! This review of the MaxiFi planner has revealed that the software is certainly what you need. An app that’s the perfect blend of a financial planner and a web-based computer program. The question is: “How does MaxiFi work, and is it legit?“
MaxiFi Planner is a personal finance app created by Economic Security Planning, Inc. They also made the handy “Maximize My Social Security” tool.
The founder and president of Economic Security Planning is Laurence Kotlikoff. He is also the co-author of the New York Times bestseller, Get What’s Yours: The Secrets to Maxing Out Your Social Security.
The software promises to offer more than the regular free online planning tools for retirement. They promise a comprehensive data analysis to review your future income and expenses in retirement.
This review of the MaxiFi software aims to carefully examine the app and answer the question of if it’s legit or a scam.
What Is MaxiFi Planner?
MaxiFi Planner software was created by Laurence Kotlikoff, a Boston University Economist. He hoped to offer a detailed and realistic financial planning tool both for individual investors and financial advisors. The software promises advanced data analysis at an inexpensive price.
Think of it as the junction where a financial planner and a web-based computer program meet. With its easy to appreciate user interface, the user-friendly app allows you to input your details and get comprehensive, yet understandable results.
Similar to most personal finance apps, MaxiFi reviews the full picture of your finance and gives you the best estimate of your savings to lead you through to your retirement whilst maintaining your current standard of living.
It works on the Life-Cycle Hypothesis principles, which proposes that people will want to maintain the same good standard of living. Who would want to start comfortable and then end up living lowly after retirement?
MaxiFi offers more than just reviewing your money and giving you an idea of where you stand in the present. It also paints a picture of how much you can spend in retirement.
However, these reports are not exactly free. It costs $99 for the first year, and $79 subsequently.
How Does MaxiFi Work?
MaxiFi allows investors to make a thorough financial plan using advanced statistical analysis. It eliminates assumptions from financial planning and provides a user-friendly data analysis for investors at all sophistication levels.
MaxiFi gives a holistic view of your financial life somewhat like Maximize My Social Security. However, its services are not limited to just the Social Security earnings.
To create a base plan for this, MaxiFi considers not just Social Security earnings, but also, college expenses, current employment, retirement accounts, pensions, annuities, property ownership, vacation homes or real estate investments, and current assets.
You should know that the more information you give the system, the more accurate your results will be. And, the information you input can always be changed, if need be.
The system then calculates how much you can spend arbitrarily in the future years. And, suggests how you can share this arbitrary spending over that period so you don’t go broke. The app’s progress tracker will help monitor your progress to ensure you’re on track.
MaxiFi will also suggest financial paths to you if your non-arbitrary spending is low. Whether it’s reconsidering career options, moving to lower-tax states, or working longer hours, it will paint you a picture of your progression to improve your living standard.
After generating the base plan, it delves right into maximizing the base plan. MaxiFi carefully reviews your data through thousands of possible outcomes and suggests ways to maximize your standard living path from your ‘X’ age.
This will guarantee an entire lifetime of financial planning, to ensure an optimized standard of living and annual arbitrary spending.
What Operating Systems Does MaxiFi Software Work On?
MaxiFi software is web-based and it works on any modern version of Windows, Mac OS, or Linux via any modern web browser, such as Microsoft Edge, Chrome, Firefox, or Safari.
Does MaxiFi Software Work on iPads, Tablets, or Phones?
Yes, MaxiFi software works on most regular tablets and phones, and inputting data is very easy on any device.
However, since the software offers comprehensive financial information, you may notice that you would have a better experience reviewing reports by using a tablet or larger device rather than a phone.
What Are The Pros and Cons of MaxiFi?
These are its benefits and shortcomings:
Pros Of MaxiFi
Comprehensive Review of Your Finances
MaxiFi will review your financial path thoroughly to help you create an optimized plan for a lifetime.
The app interface is easy to appreciate and it’s generally easy to operate. Finding the forms and inputting the data is stress-free.
Suggests Results for The Future
MaxiFi will provide you with a modifiable plan to help you maintain a good standard of living for the rest of the future.
Cons Of MaxiFi
It’s not free
To have access to the amazing services of MaxiFi, you’ll have to pay $99 for the first year and $79 for subsequent years.
It’s Not Synchronized
The app does not offer live connections to banks or other financial institutions to help you manage your checks and balances.
There’s No Live Customer Service
If you have any complaints or inquiries, you’d have to submit an email form. For a paid product, the app can do better.
Is MaxiFi Up to Date with The Latest Tax Law Changes?
MaxiFi Planner has been updated to integrate the provisions of the SECURE Act of 2020 and the Tax Cuts and Jobs Act of 2017. Learn more about the TCJA changes and how you can use MaxiFi to see their impact on your lifetime finances.
Is MaxiFi Legit Or A Scam?
MaxiFi software allows you to review your financial path according to the details you inputted in the system. It carefully analyzes your financial journey and suggests ways to put you on track, so you get a lifetime of a good standard of living.
Regardless of your financial questions, MaxiFi provides answers to them and then some. MaxiFi is legit, easy to use, and super helpful.
The software offers remarkably comprehensive suggestions also reinforced by Monte Carlo analysis. MaxiFi is a tool that surely benefits both professional investors with sound financial planning practice and regular investors.
A review of MaxiFi reveals there’s no questioning if MaxiFi is legit or a scam. It’s very legitimate. However, you have to decide for yourself if it’s worth the price.
MaxiFi is a great tool that aids in making sound financial plans. This comprehensive review has revealed MaxiFi as a legit resource in the financial world.
I’ve carefully explained what it is, how it works, its pros and cons, and more.
I hope this review completely answers all your questions.