Maxifi is retirement planning software designed by Boston University professor Larry Kotlikoff. I've spent several days trying out the software, and this video is my review of the tool.

There are several things I like about the tool. Data entry is easy. It doesn't require input of detailed investments or even a budget. Beyond housing, it asks for no spending details. Instead, it provides you with how much the tool calculates you can spend each year in retirement.

Its social security tool is also robust. For example, you can upload your earnings history from SSA, which the tool uses to calculate your best claiming strategy.

That said, Maxifi is not a tool I can recommend or plan to use. Its spending calculations do not account for the sequence of returns risk. It uses very conservative default settings, without explaining the consequences of these assumptions. And I found the tool overall not very transparent when it comes to understanding how the calculations were performed or how the various assumptions affect the results.

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