NEW YORK ( MainStreet) — Figuring out how to allocate the amount of stocks, bonds and cash in your retirement portfolio can be a daunting and confusing task.

More investors are choosing to manage their money on their own, allowing them to maintain more control in what they are buying and selling and also skipping the management fees charged by financial advisors.

Proactive investors can use Jemstep, a software program which allows investors to load and link all of their current and previous retirement and brokerage accounts together, giving them an overall view of their projected earnings. Jemstep tracks 38,000 mutual funds and exchange traded funds and can find your company's 401(k) or 403 (b).

Jemstep helps individuals take more control of their retirement, said Simon Roy, president of Jemstep. More investors are taking control of their finances and future retirement earnings by using online software programs. Investors can receive unbiased advice from Jemstep, which provides analytics generated by its software service.

"The service is designed to help people lock in more money for their retirement," said Roy. "It brings all the accounts together. This gives you a full picture."

The service also shows the investor a view of his projected future earnings and where he is losing money to excess fees, said Roy. Investors can also easily see what mutual funds they are holding and the levels of their allocation among their stocks, bonds, commodities and cash, he said.

The goal is to provide investors who want to self-manage their portfolio professional investment advice without the need for an offline financial manager.

Jemstep's software can make recommendations on how an investor can "optimize" his accounts and current holdings and will even incorporate an analysis of your tax implications, Roy said.

A recent survey conducted by Jemstep and Harris Interactive with over 2,300 participants examined the current attitudes of consumers about investing for retirement and found that 50% of investors manage their own money currently while 9% obtain advice from a family member. The survey also showed that 70% of people do not have confidence in financial planners and want to manage their own money. Many investors are weary of the high fees charged by financial advisors in addition to the fees charged by companies selling the mutual funds, Roy said.

"We are structuring it to show individuals what they can gain from following Jemstep's advice," Roy said.

Jemstep walks investors through their portfolios in a step by step process and explains the gains and losses they could obtain from buying a certain mutual fund or selling a specific stock.

To view examples of three different investors and their retirement goals, click here.

Most Americans are not saving enough money for their retirement. The average American only has $12,000 in his portfolio when close to retirement age, said Roy.