Financial management system and method with retirement planning

US10810660B1 · kind B1 · utility

Assignee

• Wells Fargo Bank, N.A. · US

Inventors

• Andrew J. Diggdon · Oakland, US
• John Maher · Fairfax, US
• Karen Moore · Vacaville, US
• Yon Wing Lee · San Francisco, US
• Brian Paul McMahon · Collegeville, US

Key dates

• Filing date: Sep 12, 2012
• Grant date: Oct 20, 2020
• Expiry date: Sep 12, 2032

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/03
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A computer-implemented data processing system includes a data storage system, and a processor and program logic stored in memory and executable by the processor. The program logic includes logic configured to manage accounts respectively associated with a plurality of users, process transactions for the accounts and store account data related to the accounts in the data storage device, access the account data stored in the storage device and determine projected retirement spending amounts for a user based on account data associated with the user, determine a projected required savings amount based on the projected retirement spending amounts, and establish a connection with one of the users and provide the user with a user interface, the user interface including retirement planning data, the retirement planning data including an indication of the user's progress in accumulating the projected required savings amount.