Retirement Planning Calculator
By: Source: AARP.org Date Posted: 2006-02-02 15:18:12.852730-05:00
Do you know how much money you will need in retirement? Like many people, you may have no idea. AARP has a good, easy-to-use calculator to help you find out. The calculator will help you figure out where you are now and what you will need to save to meet your retirement needs.
Once you finish calculating and get a sense of where you are now with your money and where you would like to be at retirement, we encourage you to review the section on investing. In particular, there are simply three main strategies for investing money for retirement:
- Protecting it (investing in cash equivalents such as money market funds)
- Using it to earn income (investing in bonds, bond funds, or other fixed income funds)
- Using it to grow more (investing in stocks or stock funds)
Use the AARP Retirement Planning Calculator
Additional Resources
The U.S. government's MyMoney.gov site provides many tools to help you plan for retirement, including links to apply for benefits online, find your retirement age, read the IRS guidelines on IRAs, and more.
Watch Mission Retirement: How Big A Nest Egg? to learn why it’s so important to have a nest egg for an adequate retirement.
Learn about the "Top 10 Ways To Prepare For Retirement".
This column is meant to provide general financial information; it is not meant to substitute for, or to supersede, professional or legal advice.
Note: The content areas in this material are believed to be current as of this printing, but, over time, legislative and regulatory changes, as well as new developments, may date this material.
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