Pralana vs Boldin: How Two Popular Retirement Planning Tools Compare
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- เผยแพร่เมื่อ 27 พ.ย. 2024
- I've been using Pralana Online over the past month. It's a retirement planning tool that, for a long time, was available as a spreadsheet. It's now available as an online app.
In this video, I take a high-level look at Pralana and compare it to Boldin, formerly New Retirement.
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While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. I've since sold my websites, bought them back, and started a new website and this TH-cam channel.
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.
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Excellent video Rob! I purchased the online version a month ago and as you said it will require an investment of time to fully understand/unleash the power of the tool. Coincidence I spent 2 hours today trying to figure out how to switch from simple to advance portfolio modeling. Looking forward to future videos and thanks for this one.
I started with Boldin then after trying Pralana, I cancelled my subscription to Boldin. Pralana is so much more powerful. Boldin does look prettier so it is more suited for the less technically savvy. But for those that like to see the calculations under the hood (the user manual explains it all), Pralana is for you. Pralana is for the power user. It is like an automatic transmission in car vs a manual transmission. You get more performance out of the manual if you know how to drive it.
Boldin is such a terrible name 😭😭
Yes. Awful.
I love the name. If you want to be part of the In crowd, you have to be Bold. Boldin. ✌️📈
Pralana for the win!
Rob, One thought: I am somewhat surprised that you like and want to use the same ROR across all account types when Roth optimizing. Let's assume we practice Asset Location Optimization. Thus, lower ROR assets belong in IRA's and growth asset's belong in Roth. So, there is an embedded (and real) reason to use different ROR's across account types. I understand that this'll tilt toward more Roth conversions. However, it also leans toward greater endpoint wealth realization. Note: I've happily used the spreadsheet Pralana for 3 yrs. Your review highlights that the web based version is another giant step up in capabilities. I was not impressed with Boldin's free version (no Roth conversion functionality).
Thanks Rob, looking forward to more videos on Pralana. I have been trying out both Pralana and Bolden. I agree Pralana is more complex but so far I find it easier to see the details behind the scenes. They are quite responsive to all questions and suggestions.
I am a fan of being able to dig into the details and tweak parameters to suit my situation. However, I can see having this many levers to pull leading to analysis paralysis.
Thank you for doing these comparisons and product reviews.
I enjoy them. Pralana is an incredibly complex tool. I don't think I've done it justice, but am working on my videos.
I use Boldin and it suites my primary needs. Through my advisor I have access to Right Capital. It seems like basically the same thing, but there are a lot more advisors on TH-cam that also use Right Capital so it's easy to see how their examples would work on my savings. The tool I really want to know more about is Income Lab. My advisor uses that to give me an idea of what my spending could be and I don't see its Dynamic Spending strategy in any of the other tools I'm using. Thanks for the deep dive and I hope that maybe you'll do videos on Right Capital and Income Lab.
I could have used this 20 years ago. Presently I am past the predictive stage. I have spreadsheets for spending, taxable income and present investments. Overall I made good choices, but it could have been better.
I'm favored,$9k every week! I can now give back to the locals in my community and also support God's work and the church.God bless America..
While beyond the scope of this initial review, I wanted to add that I ran into what I think is a limitation as to how Pralana Online handles 529 accounts. Our child is currently in college, and I found that Pralana assumes all college costs come from a configured 529 plan. We are using the 529 to only partially pay for college with the rest coming from income and other savings. The workaround is to set the yearly college expense to match the actual funds in the 529. Unfortunately this does not work so well for college years already in progress. Our solution was to completely ignore the 529 feature and to treat the account as tax free.
I think Retirement Budget Calculator is the best. But I'm biased. :)
Hi Rob. Great video. Could you do a similar one for OnTrajectory vs Boldin? I think Boldin comes out ahead but very curious how they match up with your thorough analysis of both. Thanks.
Question: can you comment on which tool might be more appropriate for accumulation stage versus decumulation (pre retirement versus post retirement)?
Thanks Rob! Whew! I think I'll stay with Bolden 😆
I'd wonder if it is paying the taxes owed upon conversion from Taxable. If so, the return rate on the taxable would affect the amount of money available to pay for a conversion. That would change the planned series.
Great stuff
Really hard to read the tiny print, why not zoom in a little? Having 50% screen width taken up with tiny print isn’t helpful.
Remember your target audience is older people, and even viewed on a 55” TV the writing was too small.
The video's too long and mostly shows Pralana and not Boldin. Looks overly complicated.
It would have been nice to see a 10 - 15 min video showing the pros and cons of both choices.
New Retirement = Boldin? wait, what? why?
The Jaguar and Bud Light Brand Marketing Teams worked together to develop the Boldin and Pralana product names, that no one can spell, pronounce, or remember. 😂
I'm favored,$9k every week! I can now give back to the locals in my community and also support God's work and the church.God bless America..