The modern uncertainty over tomorrow’s retirement is unprecedented. Little can be done to make yourself completely confident in any decision you make for reasons that are simply out of your control. As far as what’s in your control, there’s little reason why you shouldn’t be utilizing free tools that exist to help those planning for retirement. They can be used to either help monitor current retirement planning or pave the way for future retirement decision making.
1. Department of Labor Literature
If you consider taxes an expense, then these aren’t technically free, but the amount of information the government has published on retirement is vast. Whether it’s determining the difference between an IRA and a Roth IRA, or understanding the best way to project future living costs for you and a spouse, there’s bound to be federally agency-backed information on it. Don’t let your tax dollars go to waste paying for free useful information you refuse to use. Consider the fact you live in a country where such knowledge is provided to the public to be a luxury.
2. Instant Calculations
The internet is awash with calculators that compute everything from stair construction angles to measurement conversions. Among these web-accessed tools is the retirement calculator. The name implies exactly what this nifty gadget does: plug in all the appropriate factors of your desired future lifestyle and get the monthly payment figure necessary to make it happen. The awesome part about these retirement calculators is that they’re free and simple to use. No signing up or other rigmarole is necessary.
3. News and Other Up-to-Date Information
This one is the most obvious, yet, also the most neglected of all ways to better prepare for your retirement. You have to stay updated on world events. It’s not enough to just absorb the headlines every night. In order to have a respectable chance at planning retirement successfully, it’s necessary that those putting thousands of dollars towards such an end every year be aware of the ways in which the retirement landscape is changing. Most news websites make it quite easy to navigate through topics rather specifically, making retirement news no hard facet of the facts to find.
You don’t have to take on retirement by yourself. Utilize government service, technology, and common sense. Together these things can make your retirement preparation a less painful process.
Monique Rowe loves blogging about saving money and thrifty living and can be found Stretching The One Income Dollar.