Retirement Planners…Sample Some
I have written many articles about retirement and retirement planning. In most cases when people start to think about retirement, they begin to get serious about their estate planning needs as well.
There are many retirement planners on the market and on the internet. For those who want to get an idea of whether they are on track to reach their retirement goals, these retirement planners are helpful. Our friends at Squared Away have tested three free retirement planners that are available on the internet.
Although no one retirement planner is fool- proof, using such tools is better than just hoping that your goals are being met.
Here are the three picks from our friends at Squared Away (Why not try all three and compare them?)
Be forewarned, no one calculator from the internet will be ‘tailored’ to your exact circumstances.
The three picks from Squared Away are:
NewRetirement – newretirement.com
E$Planner Basic – esplanner.com
Target Your Retirement – available through the Center for Retirement Research at Boston College
Calculators use various assumptions to provide analyses. They all require (and rely on) estimates and financial data that you provide. If those estimates are inaccurate the results of the calculator may be also. Remember the old adage – garbage in, garbage out.
Also, many changing economic factors (interest rates; house valuations; medical costs, etc) make retirement calculations less than an exact science. However, retirement calculators are a good place to start, if you are willing to take the time to answer some detailed questions.
In the words of Squared Away: “A calculator is no substitute for a precise and detailed estimate by a financial planner. But it’s important to start somewhere.”
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