Thursday, December 17, 2009
It is never too early, or too late to start saving for your retirement. The first step is understanding your current budget. Once you know how much you are spending in a month, you can figure out how much you can afford to save, or ways to increase your savings.
WISER’s retirement income worksheet, called Get Your Ducks in a Row, will help you to organize each of your sources of retirement income, so there is no guesswork as to how much retirement income you will receive each month. It is an easy-to-use tool that considers all of your benefits, such as Social Security, Employer Pensions, as well as contributions from part-time work. The worksheet also distinguishes which sources will keep up with inflation, and which will not.
This useful tool, as well as many other financial and retirement planning resources are available on WISER’s website.