ProjectionLab
Simulate your financial future and chart a course to FI/FIRE
What is ProjectionLab?
Create beautiful financial plans with a level of nuance and flexibility that exceeds the standard retirement calculators. Run Monte Carlo simulations, backtest on historical data, plan how to live life on your terms, and reduce anxiety around your finances.
Pros & Cons
Pros
- Comprehensive financial planning
- Scenario modeling
- Active development
- Detailed customization
- FIRE planning
- Free tier
- Vehicle purchase planning
- Visualizations
- Discord community
- International presets
- Mortgage payoff planning
- Multi-condition milestones
- Roth conversion ladder support
- Tax settings for multiple countries
Cons
- Complex setup
- Questionable accuracy
- Too many parameters
Tool Details
| Categories | Budgeting apps, Retirement planning, Financial planning |
|---|---|
| Website | projectionlab.com |
| Became Popular | August 20, 2022 |
| Platforms | Web |
| Social |
Recent Reviews (11)
Stellar and cant complain
I love Projection Lab - I was really hesitant to pay a financial advisor because the financial planning space is kind of sprawling and it's really hard to tell what is garbage advice and what is actually useful. I've been using ProjectionLab to ballpark things like retirement and FIRE and I've learned a TON in the process. PL helps you figure out a lot of the ins and outs of all sorts of complexity like Roth conversion ladders, planning when you paying off your mortgage, modelling different scenarios ("What if I buy a new car in 2 years?") - I love it!
ProjectionLab had empowered me to plan my future! I can write down how much I expect to earn and spend, and what big purchases and moves I expect to make in the future, and then ProjectionLab allows me to play with hundreds of possible futures to answer critical questions like "when should I retire?" and "how much will it cost to move to a higher-tax state?" Tip: multi-condition milestones are great for creating complex decision trees to represent how you would react to different market conditions
I’ve been using Projection Lab for several months now. The initial setup takes a little while (you want to make sure you have accurate numbers from all of your accounts, including assets and liabilities), but once you get that dialed in, it’s so easy to manipulate things and see how your projection changes. My husband and I are considering buying a new-to-us vehicle, for instance, and I easily created scenarios for buying with a loan vs cash to see how it would affect us. It’s so powerful to be able to attach future numbers to financial decisions! Another really important use for me is in teaching my kids the value of compounding interest. My 12 year old was on the fence about investing her small pot of savings money until I showed her a projection of what that money could turn into if she invested it for the next 10, 20 years. She regularly asks me to help her try out different scenarios in her own projection, and I’m sure she’ll be using the tool herself before long. This tool is now an essential part of our personal finance planning and one that I plan to use for years. Highly recommend.
At the heart of personal finance is a search for peace of mind. Whatever your financial goals may be, ProjectionLab can help you attend to them and find that peace of mind. Whether you're focused on building a big picture assessment of current conditions or want to endlessly tinker with projected outcomes for the future, it has you covered. ProjectionLab is a great product, which I've been using for several months now. After a little testing, it was a no-brainer to grab the lifetime plan. It has deftly replaced my hodge-podge of spreadsheets and looks a lot better too!
I have been using ProjectionLab for about two years now, and it is the most feature-comprehensive financial planning tool I have ever used. It provides a complete picture of my future financial outlook and gives me confidence in my ability to (one day) retire successfully.
I would say the product is well-thought and nicely implemented but the ultimate promise of helping me to predict my future success financially is yet to delivered. Main reason is because there are really way too much parameters to consider and the result is hardly accurate.
Everything I could wish for. Mint is nice for budgeting, but for planning, this does it all! Very detailed and accurate. This is a retirement plan that I can trust. The other calculators that return wildly different results from each other don't hold a candle to this.
Amazing way to visualize and plan your finances, love that it also has tax settings for other countries besides the USA
Easy to use, nice pre-sets even for international users, active development and great community on Discord.
Able to handle all of my financial forecasting needs, even with free version. Very impressed!
Frequently Asked Questions about ProjectionLab
When did ProjectionLab become popular?
ProjectionLab became popular around August 20, 2022.
What are the main advantages of using ProjectionLab?
The top advantages of ProjectionLab include: comprehensive financial planning, scenario modeling, active development, detailed customization, FIRE planning.
What are the disadvantages of ProjectionLab?
Some reported disadvantages of ProjectionLab include: complex setup, questionable accuracy, too many parameters.
What is ProjectionLab's overall user rating?
ProjectionLab has an overall rating of 4.9/5 based on 11 user reviews.
What type of tool is ProjectionLab?
ProjectionLab belongs to the following categories: Budgeting apps, Retirement planning, Financial planning.
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