Do you wonder if you are saving enough for retirement? One way to check your progress is with a retirement calculator. Many exist but I recently had the opportunity to review a Monte Carlo Simulation calculator app called Retire-Sure.

Monte Carlo Simulation calculators calculate the possibility of reaching your retirement by simulating previous market conditions. You input your basic data such as current savings, inflation rate and annual savings. The calculator then runs the numbers to let you know your chances of success.

The Retire-Sure calculator does this for you. It is an app. You can get the app for Android, OIS or your PC. I reviewed the PC version. The calculator runs one thousand simulations each time you calculate. I am a big fan of calculators. They are like using a GPS. You need directions to get where you want to go. A calculator does that for you.

I found this to be a very good calculator. One nice feature was the Bullseye-Fund Search. This allows you to find the average ten-year return and risk of a mutual fund you may be investing in. This makes it easier to plug in the numbers for the simulation.

Another feature I like is the distribution and depletion sections. These tell you at a glance whether your portfolio will survive through retirement. You can clearly see how close you are to success.

The Retire-Sure app allows you to make adjustments to improve your chances of success. The Bullseye-Fund section gives you the opportunity to try out different mutual funds to see if you could improve your returns. Plus, you can change your spending and saving numbers to see how it will affect your plan.

The Retire-Sure app is very straightforward. I would say it is simple to use. It's simplicity is refreshing. I do miss the options to add additional inputs such as social security income. However, some of the other Monte Carlo calculators can get too complex with these additional options.

A user's guide is available at wisdomone.com.hk. You can find the app at Google Play or the iTunes Store. It is available for iPhone, iPad, Android Smartphone and Android tablets. There is a fee to purchase this app.

I would recommend the Retire-Sure app. The Bullseye-Fund feature is a handy option and the app's simplicity makes calculations and adjustments easy. Retirement is a big goal. A calculator is one tool to use to reach that goal.

I received a free Retire-Sure app from WisdomOne to do this review.

May I recommend my ebook, Investing $10K in 2013