Last week I posted about an open-source website with the goal of projecting your retirement savings more accurately than the other free online tools. reddit! In the process, you guys have provided a lot of really good suggestions and feedback for making the site better.
So I've listened, took notes, and tried to incorporate as many of your suggestions as possible. Here's the quick overview of the changes,
- Added opening balances for 401k, open market, IRA and HSA accounts.
- Added an IRA option. There's now a choice between Roth and Traditional (but not both, yet).
- Several inputs can now be cycled between percent and dollars.
- Re-calibrated the trends and projections based on the latest available market data.
- Moved the market question to the results pane.
- Included a donut chart to show what makes up your final account balance.
- Added several error checks to help users not leave an entry blank.
- Changed the ROI to an annual basis. (This is my favorite metric because it lets you know exactly how much your every dollar invested contributes to account growth.)
- Removed the peer comparison and rank feature, for now. The data was still too thin and I was worried it would send the wrong message. But it will be back.
So what's next?
- Add a lot more investment options. Lots of people have suggested everything from 401a to more specific market segments (small/medium/large cap). Will try to add as many as possible without making the interface clunky.
- Bring back the comparison feature after there is more data. I'd love to help users see what other similar people do with their money. This will entirely be user driven vs. marketing driven.
- Work on improving the interface as well as making it more mobile friendly. I've certainly gained an appreciation for how difficult even the simplest financial questions could be to a user.
Anyways, thanks again r/FinancialPlanning for helping make this site better.
Submitted February 05, 2017 at 01:58PM by truetolifetome http://ift.tt/2jQ3xUm
