Fidelity's new MyPlan for retirees

Retirees can now check online how long their savings will last at their current rate of spending, thanks to a new addition to the MyPlan family of planning tools from Fidelity International.

Available via rewritingretirement.com, Fidelity's MyPlan for Retirees allows those in retirement to assess their current and likely future financial position with a few clicks of a mouse.

In an instant they can compare their spending plans with the income levels from their savings to see whether they are keeping pace with inflation - or are at risk of running out of money.

David Dalton-Brown, Head of Fidelity FundsNetwork, comments: "Few realise the corrosive impact that inflation can have on their savings as the years progress. MyPlan has proved a real winner with people looking to get an idea of what their retirement prospects look like, both early on in their life when they are in the accumulation period, as well as those who are very close to retiring. MyPlan for Retirees is a natural evolution of the MyPlan tool, and now whatever life stage you are in, you will be able to get the full picture of just how secure your financial future in retirement really is."

MyPlan

MyPlan now offers two different tools to suit investors at whichever life stage they might be in:

Planning Ahead or Approaching Retirement: Investors can use the revolutionary calculators to find out if they're on track to meet their retirement goals, and to see how much they need to save in order to meet those goals.

Retired: This new extension of myPlan offers retirees a simple click by click projection of their disposable income during their retirement, and enables them to see the longevity of their existing savings. The tool also allows each user to specify their own investment style, and uses this as another factor to project how long their retirement pot could last.