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About Retirement Calculator, Inc.
Retirement Calculator, Inc. provides the tools and resources necessary to assist you in making critical economic decisions regarding your retirement future.CBS The Early Show
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Asset Allocation
Often financial "experts" make asset allocation difficult to understand. My goal in this series of articles is for you to understand asset allocation thoroughly, in an easy to understand format.- FREE Retirement Calculator recommended by Ray Martin on the CBS Early Show - Watch the video clip
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| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| 30 yr fixed mtg |
|
3.80% |
|
3.76% |
| 15 yr fixed mtg |
|
3.11% |
|
3.02% |
| 5/1 ARM |
|
2.69% |
|
2.68% |
| 30 yr fixed jumbo mtg |
|
4.38% |
|
4.39% |
| 5/1 jumbo ARM |
|
2.94% |
|
2.89% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| $30K HELOC |
|
4.60% |
|
4.59% |
| $50K HELOC |
|
4.24% |
|
4.24% |
| $30K home equity loan |
|
5.77% |
|
5.76% |
| $50K home equity loan |
|
5.50% |
|
5.47% |
| $75K home equity loan |
|
5.47% |
|
5.44% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| 36 month new car loan |
|
3.13% |
|
3.13% |
| 48 month new car loan |
|
3.24% |
|
3.25% |
| 60 month new car loan |
|
3.34% |
|
3.35% |
| 72 month new car loan |
|
3.31% |
|
3.31% |
| 36 month used car loan |
|
4.36% |
|
4.36% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| 6 month CD |
|
0.46% |
|
0.46% |
| 1 yr CD |
|
0.70% |
|
0.70% |
| 5 yr CD |
|
1.38% |
|
1.38% |
| 1 yr IRA CD |
|
0.71% |
|
0.71% |
| 5 yr IRA CD |
|
1.49% |
|
1.49% |
Financial Planning Seniors
Retirement Calculator, Inc.financialplanningseniors.com
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Financial Planning for Seniors: It's Never Too Late to Save for Your Retirement Goals
A number of years ago, financial planning for seniors meant that someone in the family took over the checkbook and started paying the bills. That is no longer the case. Now, people are retiring later in their lives, choosing to work longer as a result of better health and as a result of societal factors. Therefore, financial planning for seniors has changed. These days, financial planning for seniors may mean looking at different housing opportunities and preparing a savings account in the even that long term care is needed. These days, financial planning for seniors means saving for another trip to visit the grandkids or possibly even saving for a vacation. In other words, seniors - as well as older boomers - are still taking advantage of financial planning services. Seniors and boomers alike know that it's never too late to start saving for the retirement that they have always hoped that they would have - even when they have noticed that their retirement might not look exactly the way that they thought it would when the pictured it when they were younger. Financial planning for seniors is much like financial planning for anyone else; while the choice can be made to rely on your financial advisors to make all of the right savings and investment decisions, it's never a bad idea to take action and stay on top of savings and investment accounts. And the easiest way to stay on top of your accounts is to click the red button at the bottom of this page to download the free retirement calculator. With the free retirement calculator, you can enter simple information about your savings accounts as well as about the investments that you have. You will be able to look at the way in which interest rates and inflation have affected your savings and investments over time, and you will also be able to look into the future to see the projections for how they will continue to perform. While projections can be done as far as twenty five years out, you will still be able to look at smaller portions of time to see how you can expect your savings to grow. And, even with as valuable a tool as those projections for the accounts you currently have is, the value of the retirement calculator does not end there. In addition, you will be able to evaluate the changes that you have considered making to your financial plan. You will be able to see how your accounts would be affected by investing in a different mutual fund or how they would be affected down the road if you were to need to withdraw from your savings to cover an unexpected expense. Financial planning for seniors is an evolving business. And, as a result, it is important for seniors and older boomers to stay on top of their savings and investments. That does not mean though that there is not support to be found, in fact, when you download the free retirement calculator, you will receive a free consultation with a financial advisor - someone who you can trust to answer your questions and advise you about what steps to take to reach your financial goals. It's never too late to save for the future that you have always dreamed of having; rather than wonder -what if ?- why not see for yourself what you can do to reach your goals? Get started now; just click the red button to download the free retirement calculator and arrange a consultation with a financial planner. |
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Retirement Knowledge Center
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Do You Know the Answers to These Important Retirement Questions?
- Are you retired or thinking about retiring?
- Do you have enough money to comfortably live throughout your retirement years?
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Analysis of the Economics of Early Social Security Withdrawal
Robert J. Phillips
Chief Retirement Consultant
Deciding whether or not to take the early withdrawal of social security at age 62 can be difficult. If you need this income at 62 to fund your retirement the decision is fairly straightforward. Take it early! On the other hand, if you have another source of revenue to fund your retirement your decision will be primarily based on lifestyle, health and investment preferences.
Several factors can affect your decision. First is your life expectancy. If you are in good health and have a family history of living beyond 90 then waiting for full benefits may be best. Two other factors impact this decision. First and most important is the value of money or your expected return from your investments. If you are using other investments instead of social security to fund your retirement you should use the rate of return of these investments as your value of money. There is another way to look at the value of money. If you do not require the social security money to live, you can invest the distributions for the future. The rate of return of this investment is your value of money. If your investments will make larger returns such as stocks this would favor taking the early withdrawal.
The last factor impacting your decision is inflation. Social security includes an annual adjustment based on inflation. You cannot control this variable but you should be aware of its impact. If future inflation is significant it will favor a later full distribution
FREE Social Security Calculator:
Find Out Your Breakeven AgeWe developed a calculator to assist in analyzing the impact of taking early benefits at age 62 or waiting for full benefits at age 66 to 67 depending on the year you were born...If you were born in 1960 or later your full benefits will begin at age 67 and your reduction for early benefits at age 62 will be 30%. If you were born between 1946 and 1960 your full benefits begin as early as age 66. We have included a chart that summarizes information.
To use the calculator you need to input your year of birth. You also need to input a value of money up to 10% and a projected inflation adjustment. The calculator analyzes income generated over time from both the early and full benefit investments. It calculates the age at which full social security will catch up and breakeven with the early withdrawal. If you were born before 1960 your breakeven age will be impacted by the year you were born. An early breakeven age favors waiting for full benefits.
The social security calculator is not the final answer whether to take an early withdrawal but it does give you additional economic data to assist in that decision. Ultimately you must balance income, investments and lifestyle to optimize your enjoyment during your retirement years.
