A few people employ high-priced firms to prepare a plan for them, and other people might purchase complex software package to assist them to develop a plan. While there is a place for this type of assistance for retirement planning, there are also free tools that you are able to use to get started. Here are three free tools that will aid you in planning for your retirement.
1.Pen and Paper- This is the easiest tool you'll be able to use, and the one that will create the greatest difference in planning for your retirement. Make a list of your income and expenses, and keeping track of where your money goes comprises the first step of determining how much you will be able to save for retirement. If you create this list, and discover that you have nothing left when you deduct your expenses from your take home income, then it is time to devote some serious thought to your budget. See if you can find several areas to cut back to save some money to invest into your retirement fund.
2.Your Workplace- Most people have forgotten the speech they received from the human resources department when they were hired. The one about benefits, pensions, savings plans and all of that. This is a good time to either pull out your employee handbook, or make an appointment to meet with somebody in the personnel department. You will discover loads of information about what is provided through your work, and how you can become eligible to obtain the maximum benefits once you retire. Many places also offer local investment firms that assist their employees with decisions and provide help for retirement planning. This is like having the best investment advice free.
3.The Internet- There are numerous retirement planning tools available free on the World Wide Web. The AARP internet site provides tools to help you work out how much your retirement plans will cost in real world dollars. CNN Money has free retirement planning tools that can assist you work out investments, income, savings, and retirement goals. There are also several investment and banking web sites that offer free help and tools to help you construct a solid retirement program.
These three tips will help you to begin planning your retirement. Allow some time every week to work on ways to step-up your retirement savings, and to dream about the kind of retirement you would like to have. Use these free retirement planning tools to help you increase your retirement savings so you will be able to have the stress-free retirement you deserve.