CLEVELAND, OH--(Marketwired - Mar 19, 2014) - Veteran financial planner David Zolt has released a new retirement-planning software tool, The Retirement Planner by RetireSoft, ( for financial advisors.

Zolt spent more than 25 years as a consulting actuary working on defined benefit plans for some of the world's largest companies before becoming a Certified Financial Planner practitioner. He is shaking up the market by selling a spreadsheet for $99 -- and $49 annually thereafter -- that vastly simplifies retirement income planning.

"The response has been gratifying; the prevalent retirement software is much more expensive, costing about $500 to $1,000 a year -- and even the experts say the costlier software is not user-friendly, is complicated and produces less clear results," says Zolt, a senior consultant who was inspired to create The Retirement Planner after an article he'd written was published in the "Journal of Financial Planning" in January 2013.

"I received plenty of response from financial planners who wanted to know how they could apply the ideas I'd written about to their practices. I decided the best thing I could do would be to create an affordable tool."

Traditional financial planners and software use an individual's retirement age as a fixed target; Zolt, however, solves the math challenge by allowing a person's retirement age to be flexible. His software takes into account six factors: portfolio size, portfolio return, savings, living expenses (including taxes), years to retirement and withdrawal rate.

"I had a second Retirement Planning meeting with a client recently. At the first meeting we went over their retirement picture using (the ACA Retirement Analyzer) and MoneyGuidePro. This time I used your Retirement Planner, and they loved it!!! They gushed about how user friendly it was, and how clear the results were. Thank you very much!!" says Retirement Planner Sheila P., CFP, CPA.

About David Zolt

David M. Zolt, CFP®, EA, ASA, MAAA worked more than 25 years in retirement and employee-benefit planning as a senior consultant. His position as trusted advisor to the managers of some of the largest pools of liquid assets in the world gave him the rare opportunity to watch professionals advise multi-million and multi-billion dollar pension funds utilizing the best practices of investing. In the process, he learned how seasoned professionals invest. Zolt's clients included The Ford Motor Co., American Greetings, The United Nations, The World Bank and The International Monetary Fund.

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Ginny Grimsley