This financial platform helps retirees convert their assets into predictable, lifelong income streams. It provides tools for budget management and spending optimization, enabling users to maintain financial stability throughout retirement.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals entering retirement struggle to convert their accumulated savings into a reliable, lifelong income stream. This can lead to anxieties about outliving their assets, or conversely, overly conservative spending that diminishes their quality of life. Traditional financial planning often lacks accessible, affordable solutions for generating predictable retirement income without relinquishing control of assets.
Solution
PensionPlus is a platform designed to transform retirement savings into a consistent monthly paycheck that lasts throughout the user's lifetime. By analyzing a retiree's savings (e.g., 401(k) and IRA) and retirement goals, PensionPlus employs financial science to create a personalized income plan. Users maintain complete control over their assets, which remain in their existing accounts and continue to grow. PensionPlus also monitors spending and withdrawals, adjusting the plan as needed to ensure long-term financial stability and offering inflation protection and potential annual bonuses based on portfolio performance.
Target Audience
PensionPlus primarily targets individuals nearing or in retirement who seek a reliable and predictable income stream from their existing savings without sacrificing control over their assets. The platform also caters to financial professionals seeking innovative retirement income solutions for their clients.
Features
- Personalized retirement income planning based on individual savings and goals
- Generation of a consistent, predictable monthly paycheck for life
- No asset transfer required; users maintain control of their existing retirement accounts
- Continuous monitoring of spending and withdrawals with plan adjustments as needed
- Automatic paycheck adjustments for inflation to maintain purchasing power
- Potential annual bonus based on portfolio performance
- Integration with Social Security benefit maximization strategies