Resources for Retirement and Estate Planning

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AARP Retirement Calculator
This calculator provides a personalized snapshot of what your financial future might look like. Simply answer a few questions about your household status, salary,  retirement savings, such as an IRA or 401(k), and supplemental retirement income (such as a pension or Social Security).  The tool will help you determine the amount of money you’ll need to retire when – and how – you want.

America Saves
Provides information about savings topics such as finding money to save, building wealth through homeownership, and compound interest. Information is also provided about U.S. savings campaigns.

American Savings Education Council/ Choose to Save Partnership (Click on “Savings Tools”)
Includes downloadable publications and interactive online tools such as the Ballpark Estimate retirement savings calculation worksheet, the Retirement Personality Profiler, and financial planning calculators.

Curious behaviors that can ruin your retirement (interactive tool)
This is an excellent interactive tool designed by the Center for Financial Literacy at Boston College. It begins with Alicia Munnell, a retirement policy rock star, introducing “Jerry” who takes people through the “curious behaviors” that can affect retirement. To start off, Jerry asks such questions as “How long do you think you’ll live in retirement?” and “How old will you be when your mortgage is paid off?” You click on your answer and he reacts. A thermometer-like indicator on the screen assesses your answers in terms of retirement readiness.

This is a simplified, free, on-line version of this company’s patented, personal financial planning software. ESPlannerBASIC generates life-cycle spending, saving, and life insurance suggestions, which can be used as educational input as you develop your complete financial plan.

Financial Security in Later Life (Cooperative Extension System) (Click on “Tools for Consumers”)
Includes links to a variety of online financial education resources with a focus on planning for retirement and long-term care.

Guidebook to Help Late Savers Prepare for Retirement
Provides a downloadable 51-page booklet that describes over a dozen catch-up strategies for middle-aged late savers who are trying to make up for lost time.

How Much Should I Have in My 401K? Balance by Age
Most people have a different definition of a comfortable living, so addressing how much you should have in your 401k is not a simple black and white answer — this amount will vary based on age, lifestyle, and finances. However, as a good rule of thumb, many experts recommend saving one year of salary for every five years of age.

How Much Will I Need to Save For Retirement?
This calculator will help you determine how well you have prepared and what you can do to improve your retirement outlook.

Investing and Retirement: University of Minnesota Extension
No matter your situation, it’s never too early (or late) to make plans for your future financial security. The following resources collected by the University of Minnesota Extension will help you put your money to work for you, to better meet your mid- and long-term goals.

Life Insurance Calculator by Life Happens
When purchasing life insurance, the question really isn’t how much you need, but how much capital your family will need at the time of your death.  This calculator can help you figure that out.

Marketwatch Retirement Planning Calculator
This is a multi-sectioned tool that tells you what it will take and what you can do to afford to retire at a desired age.

MassMutual RetireSmart
Online tools and calculators can help make a difference in determining your financial strategy. They can be helpful to model your progress and provide potential insight on achieving your retirement goals.

NewRetirement Calculator
This calculator gives results in a goals-based format, using a timeline to determine how far off you are from retiring when you want and then steps on how to achieve your goals.

A financial planning platform allowing educators and students to collaboratively model complex financial strategies and techniques.  It’s perfect for individuals learning the effects of compound savings,  tax-handling, expense management — and other aspects of financial planning.

Personal Financial Wellness Scale™ (Personal Finance Employee Education Fund)
The normed and validated PFEEF Personal Financial Wellness Scale™ provides a mechanism to assess one’s level of current financial distress.

Planning Ahead For Retirement: A PDF “Retirement” Book
Retirement is not a single event but rather a process involving a series of decisions over time. It is important to begin planning for retirement early in life but it is never too late to begin.While most people focus on finances when planning for retirement, it is equally important to consider emotional and social aspects of your life. This publication guides you in developing a retirement plan that takes into account all these important considerations.

Planning For a Secure Retirement (Purdue University Cooperative Extension)
Contains a distance learning course on wealth accumulation and retirement planning that consists of ten lessons and dozens of interactive links to calculators (e.g., for life expectancy) and other resources.

Retirement Income Literacy Quiz
The American College RICP® Retirement Income Survey tested the knowledge of those age 60 to 75 about a range of retirement income topics by asking respondents 38 quiz questions. Only 20{21ff4f36868fa9830ff11f4d939007e345b08a69fa4833b8bf3a08fd16b9151c} passed the test and the average score was only 42{21ff4f36868fa9830ff11f4d939007e345b08a69fa4833b8bf3a08fd16b9151c} correct.

Retirement Living
This site provides access to an array of resource materials, including reports on great places to retire, tax information on each state, monthly reports on new retirement communities, an online newsletter, books and online publications, a guide to state aging agencies, access to information about special assistive products and services, and links to online stores.

Retirement Personality Profiler (American Savings Education Council)
Contains an interactive self-assessment quiz that classifies users into one of five distinct retirement planning personalities (e.g., savers, and deniers). Based on this information, users can better understand their financial decision-making style and identify workable strategies to improve their financial security.

Rutgers Cooperative Extension Financial Fitness Quiz
The interactive Rutgers Cooperative Extension Financial Fitness Quiz provides a mechanism for how well a person manages their money.

Six Tools Every Retirement Investor Should Know About
Here are six retirement tools the experts suggest every retirement investor should know about.

Social Security Retirement Planner: Plan For Your Retirement
This planner provides detailed information about your Social Security retirement benefits under current law. It also points out things you may want to consider as you prepare for the future.

Taking Advantage of Employer-Sponsored Retirement Plans
Most employer-sponsored plans give you a selection of mutual funds or other investments to choose from. Make your choices carefully. The right investment mix for your employer’s plan could be one of your keys to a comfortable retirement. Here’s what you need to know.

Transamerica Center for Retirement Studies: Tools and Resources
TCRS’ latest research looks at retirement perceptions, preparations and planning among all American workers, and refines the results by gender, household income, generation, education, company size and ethnicity. Tools include articles, research, calculators, employer tools, and useful links.

The Ultimate Internet Safety Guide for Seniors
The best way to protect yourself online is to know what to expect. This website will help you understand some popular threats and learn how to avoid them. With good habits and strong security software, you’ll be able to browse safely, check in on your loved ones, and enjoy all the benefits of being connected.

What To Do if Your Pension Plan Ends
What you need to know If your employer wants to end your pension plan.

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