Retirement Planning Service Vs. Free Retirement Planning Tools
Most people think that you need fancy, expensive retirement planning tools to get the most out of your planning. Not so! Many good retirement planning tools can be had for free. They may not have tons of bells and whistles, but sometimes simple can be perfect, too. Sometimes you just need a little extra help when it comes to retirement planning. There are lots of retirement planning services - you just have to know where to look. Here are some common places to look for these services. Some of these services are free and some charge a fee.
A Budget - The Simplest Tool
This tool may not seem all that inspired, but it can make a huge difference in your retirement planning: a budget. Making a budget only requires you to have a pen and a piece of paper, or a blank spreadsheet, if you want to use your computer. Go through your checkbook, credit card statement, and bank statement and write down all of your monthly expenses, including your utilities, credit cards, eating out, groceries, and snacks.
Write down every single thing that you spent money on, even if it was just for fun. Now, at the bottom of the page, subtract the amount from your total take-home income. Anything that is left over is potential for retirement funds. If you don't have anything left over, then it may be time to rethink your budget. Cut back on the little things so that you can plan for the big thing, retirement. Use Your Company Many people don't realize that the best retirement planning tools can be found at their job; it is called the personnel office. Personnel can help you find and sign up for every perk, investment, and savings benefit your employer has to offer. Some businesses even work with banks and local investment firms to get retirement information to their employees. Stock up on the brochures and reading material that the office has as well. It's like getting top-of-the-line retirement advice for free! Television Commercials Tune your TV into a news channel and you will be sure to see tons of commercials for financial and retirement planning services. By watching these you can get a feel for what is out there and what service is being offered by each company. Keep an eye out for discounts and introductory offers. It may be handy to keep a running list of the companies you see on TV and what they offer so that you can follow up on the information later. Use the Internet for Retirement Planning You can get tons of nifty retirement planning tools on the internet. A lot of it is what's called Shareware, which are programs that are created by programmers in their spare time to offer to the public free of charge. The Vanguard Retirement Calculator helps you see if you are investing enough and helps you average your investment returns. AARP has a Retirement Roadmap Tool that helps determine how much your retirement dreams will cost in the real world. Principal Financial Group offers many different kinds of planning and investment calculators for planning for retirement. CNN Money.com offers an intensive calculator that covers investments, goals, income, savings, and portfolios. There are several national banks and financial groups that have retirement planning services online. You can either use their handy, free tools on your own, or you can chat with financial planning professionals at your computer. This option is great for people who are unable to leave their homes or who lead a busy lifestyle. Many of these sites require that you become a member and pay a fee for their services. A Real Person - the Financial Planner If you would rather sit face-to-face with a human then you may want to look for a local retirement planning services. Start by asking around. You'll want to find a company that is reliable, with friendly people. The best way to find these companies is by asking your friends and family who they use. You can also look in the phone book and cold call companies. Some of the questions you should ask are: - What services do you offer? Make sure that you feel comfortable with the company's answers before you make an appointment. As you can see, there is no need to spend big bucks on retirement planning tools. Free ones are right at your fingertips. And if you feel more comfortable paying a professional to plan your retirement, there are many options available for that as well. |
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