Basic Retirement Tool.
The cost to retire “comfortably” is getting higher & higher. With this tool, monitor your progress towards financial stability.
Quick Start
Still Working
The Retirement Planning Tool helps to monitor and provide a target to ensure you are on the right path to retire on time.
- Adjust the black cells with white font to record your information. (This is personal to you only and MoneyMatters does not have access until you share it with us)
- Notice estimated $ value needed to retire. Below, notice your projected savings by retirement age assuming you continue saving as you recorded. Lastly, if below the target $ needed is greater than your projected savings, the annual and monthly additional savings is calculated.
- This does not take into consideration other forms of income during retirement, only if your savings alone will be enough to support your needs. Social Security income, inheritance, trusts, and pension benefits also supplement your monthly needs, requiring less in total savings.
- Try adjusting your wage replacement ratio (the % of your current income you expect to live on in retirement), your expected investment return % and other variables to see how it affects your retirement timeline.
- The key to driving the most value out of this tool and all our tools is establishing a foundational understanding of your financial situation. The next step is to share this information with a trusted financial advisor to help you make the right choices to improve your financial health.
Retired
The Retirement Planning Tool helps to monitor and provide a target to ensure you are using your resources effectively in retirement.
- Adjust the black cells with white font to record your information. (This is personal to you only and MoneyMatters does not have access until you share it with us)
- Notice estimated Additional $ needed in retirement. Below, notice your remaining total retirement savings. Lastly, if below the target $ needed is greater than your projected savings, the annual and monthly additional savings/reduced spending is calculated.
- This does not take into consideration other forms of income during retirement, only if your savings alone will be enough to support your needs. Social Security income, inheritance, trusts, and pension benefits also supplement your monthly needs, requiring less in total savings.
- Try adjusting your wage replacement ratio (the % of your current income you expect to live on in retirement), your expected investment return % and other variables to see how it affects your retirement timeline.
- The key to driving the most value out of this tool and all our tools is establishing a foundational understanding of your financial situation. The next step is to share this information with a trusted financial advisor to help you make the right choices to improve your financial health.
