Retirement savings are abstract until you see all of your accounts, balances, and future income projections in one place.
Empower (iOS/Android) turns a distant goal into something more concrete by allowing users to compare what they have today with how retirement income may develop.
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Which is the best app to track your retirement savings?
If you’re looking for tracking retirement savings, Empower (iOS/Android) is the right option because it brings multiple financial accounts in one view.
That matters if your retirement money is spread across a 401(k), IRA, brokerage account, or other investments.
In short, seeing those balances together gives anyone a clearer picture of how much they have accumulated. The app is also good for people who want more than a simple balance check.
It can connect current savings with longer term projections, which helps show how today’s contributions may affect future retirement income.
This makes Empower (iOS/Android) relevant for users who feel unsure about whether they are on track.
However, it is still important to treat those projections as estimates, not guarantees. Market returns, contribution levels, retirement age, and future spending can all change the outcome.
Key features within Empower
Empower (iOS/Android) lets users link multiple financial accounts so retirement savings can be viewed alongside other investments and cash balances.
Its retirement planning tools can estimate future income based on current savings, expected contributions, retirement age, and spending assumptions.
The app also provides investment analysis ,revealing how assets are distributed across different categories and whether the portfolio has become too concentrated in one area.
Alongside, net worth tracking adds another layer of context.
While retirement savings do not exist in isolation, seeing investments together with debts and other assets can make the overall financial picture easier to understand.
For users who want a broader comparison, this retirement planning app guide looks at other tools built around long term financial planning.
Step-by-step: how to project your retirement income
Empower turns your current retirement savings into a longer term estimate by combining account balances with assumptions about contributions and future spending.
Step 1: download and sign up
Firstly, download Empower (iOS/Android) and after installing, click on ‘Sign Up’.
Step 2: connect your financial accounts
Start by linking the accounts that matter for retirement, such as a 401(k), IRA, brokerage account, and other investments.
Step 3: open the retirement planning tool
Go to the retirement planning section and review the information already pulled from your connected accounts.
The tool uses those balances as the base for estimating how your retirement picture may develop over time.
Step 4: compare the projected result
Review the estimate and see how your expected income lines up with the spending level entered in the plan.
If the projection falls short, use the result as a signal to revisit contributions, retirement timing, or spending assumptions rather than treating the estimate as fixed.
Top wealth management firms
A wealth management firm is more relevant once retirement planning grows beyond simple account tracking.
Usually, investors with larger portfolios may want professional guidance on allocation, taxes, retirement income, estate planning, and long term investment strategy.
UBS Private Wealth Management
UBS is a major firm with a good private wealth presence.
Its services typically focus on investment strategy, retirement planning, estate planning, and managing complex financial situations.
That appeals to investors who want one advisory relationship covering several parts of their financial life.
The tradeoff is cost and accessibility. Private wealth services are designed for investors with substantial assets, so fees and minimum requirements need to be reviewed carefully.
J.P. Morgan Private Bank
J.P. Morgan Private Bank combines investment management with broader banking and wealth planning services.
Its approach is interesting for people who want portfolio management alongside retirement savings income planning, credit, estate strategies, and other financial needs.
For most savers, a retirement savings tracking app like Empower (iOS/Android) is enough to understand progress.
However, wealth management firms become relevant when the financial picture is large or complex enough to justify personalized advice.
Best options for optimizing 401(k) allocations
Improving a 401(k) is not just about picking funds, it is also about contribution rate and how the portfolio is divided across investments all affect the account over time.
A good place to start is the employer match.
If your plan offers one, contributing enough to receive the full match can add money to your retirement account without requiring the entire amount to come from your paycheck.
After that, review how much of your salary is going into the plan, while asset allocation deserves a separate review.
That’s because a portfolio that made sense years ago may no longer match your retirement timeline or tolerance for market swings.
In addition, look at how much of the 401(k) is spread across available options. The goal is to avoid ending up too concentrated in one type of investment.
Target date funds can simplify this process for some workers because the mix changes gradually as the selected retirement year approaches.
Finally, contribution increases can be just as important as allocation changes. Even a well diversified 401(k) may fall short if too little is going into the account each year.
If increasing your retirement contribution feels difficult with your current income, exploring an additional source of earnings creates more room in the budget.
We have another Insiderbits guide to side income apps that shows ideas for building extra income that could be directed toward long term savings.
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Make the retirement picture easier to act on
Tracking retirement savings is important because it turns a vague future goal into something you can actually measure.
Empower (iOS/Android)helps with that first layer by organizing projections in one place. From there, the more important question is what you do with the information.
That might mean raising 401(k) contributions, rebalancing investments, revisiting retirement age, or adjusting future spending assumptions.
If your finances are complex, professional wealth management also makes sense. The app gives you visibility: the next step is using that visibility to make deliberate decisions about the years ahead.
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