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2. Retirement Planning with a Free Retirement Calculator There is a lot of retirement information on the internet and in magazines and books today due to the fact that people are living longer than ever before and need to plan more wisely for their futures since social security is faltering and the economy is uncertain.

3. Free retirement calculators Free retirement calculators litter the financial planning websites on the internet as a useful tool to help individuals get a solid overview of their current retirement savings plans. Free retirement calculators are usually just the first step in retirement planning, offering the broad picture but no advice on changing that picture if it is not what the individual is hoping to achieve by retirement.

4. Since there are many different options in retirement savings Since there are many different options in retirement savings, individuals are wise to use the calculator as a first step, and then contact a financial advisor to determine what his best course of action will be for the future in order to be certain to meet the retirement income goals by the age he wants to retire.

5. Information When individuals get ready to use a free retirement calculator, there is certain information that they will need to have on hand to enter into the system. They will need to have all types of savings information on hand, such as 401K plans, IRAs, CDs and regular savings account information. Individuals will need to know what percentage of income is being deposited into the 401K each year and what the employer will match of that income when it comes time for retirement.

6. In addition In addition, the individual will need to know how much money is deposited monthly into an IRA, CD or savings account and what the percentage rate is for each where applicable. All of these factors will help the free retirement calculator to determine whether the individual is on the right path to meeting his retirement goals.

7. Another consideration Another consideration the individual needs to determine before using the free retirement calculator is what he wants his income to be after retirement. He needs to be aware of what major bills he will still have by the time he reaches retirement age, such as mortgages and car payments, as well as any planning for nursing or retirement homes that he will want to make provision for beforehand.

8. Once all this information is on hand Once all this information is on hand, the individual is ready to input it into the free retirement calculator to see what the results are. The results will give him a good idea of what he is working with when he goes in to see a financial advisor to sort out the rest of the plan.

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