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Best money management apps for retirees

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September 24th, 2015

You probably use your smartphone to snap pictures, check your email, and possibly even update your social media accounts. But did you know that you can also manage your finances on your mobile device? With a few swipes of your thumb, you can buy stock, protect yourself from fraud, and even earn some extra cash. 

Here are ten financial apps that savvy retirees will want to download:

1. Hipmunk Travel: Retirement is the perfect time to travel, and online travel sites like Expedia and Orbitz make it easy to scout deals. But sometimes low-priced flights or hotel stays come with major downsides like long layovers or an undesirable location. Hipmunk can help you determine whether a travel deal is actually a bargain or if it will trigger a bunch of hidden costs (like  taxis or airport meals). Free on iTunes

2. Stock Guru Pro: This risk analysis app evaluates stocks based on risk, valuation, strength, and momentum. You can access data on about 7,000 stocks listed on the New York Stock Exchange, Nasdaq, American Stock Exchange, and OTC exchanges. $19.99 on iTunes

3. FRED Economic Data: Play armchair economist with this sophisticated app that lets you access Federal Reserve Economic Data right from your phone. Data is collected from agencies, including the Bureau of Labor Statistics and the U.S. Census Bureau and is compiled by the Federal Reserve. Free on iTunes

4. Key Ring Reward Cards: How many times have you lost out on points or rewards because you didn’t have your loyalty card? The Key Ring app lets you store all of those cards on your phone for easy access on the go, and it provides coupons to be used at thousands of retailers. Free on iTunes

5. BillGuard: Protect your online identity with this easy app that uses crowdsourcing to detect fraud. Like email systems that have a button to mark certain messages as spam, BillGuard lets users check if charges are fraudulent with the click of a button. Free on iTunes

6. RetirePlan: This multitasking app makes retirement planning easy. You enter information like your age, current savings, and social security benefits, and the app helps answer questions like when can you retire or how much money do you need to save. $1.99 on iTunes

7. Robinhood: Buy and sell stocks with no fee using this brokerage app designed for millenials (but perfect for tech-savvy Baby Boomers, too!). Free on iTunes

8. SigFig Investing: More than just a bill management app, SigFig also helps you design a diversified portfolio, keep tabs on your investments, and make adjustments as necessary. Free on iTunes

9. Receipt Hog: Scan your receipts with this handy app and earn credits that can be redeemed for cash via PayPal or Amazon gift cards. Free on iTunes

10. iMaximize Social Security Calculator: Use this online calculator to determine the best way to maximize your social security benefits based on your age, personal insurance amount, marital status ,and other factors. More information at imaximizesocialsecurity.com

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