Retirement Sites Tour

Web Sites That Provide Retirement Information, Education,
and Help you Calculate your Future Needs

(All sites are also shown as links at the end with complete Web site address.)

1. Yesterday something happened that made you think about your retirement preparation. All night you questioned whether or not you were financially prepared for retirement. Today you have decided to take some action but you do not have any idea where to start. Where can you get unbiased, solid information to help you evaluate your situation - Try the Cooperative Extension Service.

2. A non-profit organization that focuses on retirement planning is the America Savings Education Council (ASEC). Use the BALLPARK E$TIMATE to identify the approximate total savings needed at retirement and the annual amount you will need to save to reach that goal. To use the interactive BALLPARK E$TIMATE worksheet, go to the ASEC web site and then click on "The Ballpark Estimate" located in the highlighted box.

The organization cautions that planning for retirement is not a one-size-fits-all exercise. The purpose of BALLPARK is simply to give you a basic idea of the savings you’ll need when you retire. The program assumes that you’ll realize a constant real rate of return of 3% after inflation, that you’ll live to age 87, and that you’ll begin to receive income from Social Security at age 65.

A "hard copy" of the form is also available from the Securities and Exchange Commission, 1-800-732-0330.

3. One for-profit company that has a web site on making retirement estimates is American Express. A retirement projection is provided based on information you provide about present age, retirement age, savings, pension plan income and so on.

Click on Retirement at the top, then Retirement Calculators on left bar, and finally on Retirement Projections for "Am I Saving Enough? What Can I Change?"

American Express also has a 401(k) Site to help explain this retirement savings tool.

Click on Financial Services, then on Retirement, then on 401K site.

4. John Hancock’s Portrait Planning site takes into consideration drains on your finances while you’re trying to save for retirement--such as the cost of putting your children through college--as well as potential income from the sale of your house or part time work after retirement.

Find Portrait Planning Offers 2 Ways to Reach Your Goals.......... In the scroll box in that section, scroll down to Retirement Savings Tool. Click submit.

Do not panic at the results. To go into more depth, click on Extend Your Learning Now with Portrait Planning. Create your account if necessary, and then continue working through the tools.

 

5. Fidelity is another site that delves into great detail. If you’re married, the calculator asks you and your spouse to provide separate answers to questions on life expectancy, income and plans for work after retirement.

Click on Planning and Retirement, then Planning Center, then Additional Resources-Calculators, Planners, & Worksheets, then Retirement, then Retirement Planning Calculator.

 

6. T. Rowe Price uses a streamlined worksheet that provides a no-fills answer to the percentage of your salary you need to save. It also estimates how much your current taxable and tax-deferred investments will grow and how much you will need in total.

Click on Individual Investors, then click on Investment Planning & Tools, then tools and calculators, then Retirement Planning tools, and finally Retirement Income Calculator.

 

7. Today many local banks can help you with financial managment decisions. For example, First Security Bank has a variety of calculators include a retirement calculator that can help you determine how much you need to have set aside by retirement to provide the annual income you desire.

Click on Calculators, and then Retirement Spending Calculator.

 

8. VALIC is one of many for-profit companies that focuses on retirement planning. Check out VALIC at:

Click on Retirement, then Retirement Income Gap (under Calculators) which will open a calculator.

 

9. The VanGuard group is another for-profit company that is involved in the mutual fund industry and is a provider of financial services. Their web site has you enter data on your expenses, income, and assets to find out whether you're on target for a comfortable and secure retirement.

Click on Personal Investors, then Planning and Advice, then Invest for Retirement. You then are shown 4 steps to take. Each step discusses information to help you prepare. In Step 2, you will find the calculator, How Much You Should Save for Retirement.

 

10. The calculators at Kiplingers can help you sort out complicated information you need for a variety of financial decisions.

Both Planning and Tools have retirement planning tips and help

11. The U.S. News and World Report has an interactive site that allows you to tailor your calculations to your individual circumstance. It also gives you the background you need to decide what assumptions you should reasonably make.

Click on Money and Business, then Tools, and then Financial Calculators.  Under Investing you will find tools to help you with your financial goals, 401(k) plan and retirement.

 

12. Social Security Estimates. To help you plan realistically for your retirement, you need an idea of how much you will get from Social Security.  For an official, personalized estimate of what your benefits will be to so the Social Security Web site and then click on Social Security Statement, then Need to Request a Statement, then Request a Social Security Statement.

You will get a report in the mail that show how much you have paid in social security taxes and the monthly amount you can expect when you begin drawing benefits.

13. You have hit 50 and with it comes a variety of questions including retirement preparation. Check out ThirdAge! for a variety of information including help with financial questions. To get help on retirement planning.

Click on Money then Retire Well. Look under tools for calculators or just check out this page for a variety of subjects.

For other retirement information sites, go to Links.

References:

Four Web Sites Worth a Visit, Kiplinger’s Personal Finance Magazine, September (1996) 61-62.

A Survey of Retirement Planning Software, American Association of Retired Persons, (1996)

Congratulations!!!  You have successfully explored a variety of the sites you can find on the Web.  All of these sites and more can be found in the Links page found also at this site.  We hope you found this an interesting and educational experience.  Please give us your feedback regarding the tour and the site in general.

                                                                                                                                           
The selection of sites is not an endorsement of that company's product or services.  Sites have been selected because they offer useful information.  MSU and OSU do not take responsibility that sites may change.