Читать книгу Personal Finance After 50 For Dummies - Eric Tyson - Страница 71

For purposes of retirement planning, what matters most is where you stand today as far as reaching your goal. So, you need to crunch some numbers to get a handle on your situation. One of the best ways to do so is to use available retirement calculators, either online or with a hard-copy workbook. These resources can walk you through the calculations needed to figure how much you should be saving to reach your retirement goal. The information you collect and the questions you answer earlier in this chapter allow you to hit the ground running with the number crunching.

Among the mass market website retirement planning tools and booklets, we like T. Rowe Price’s. Visit www.troweprice.com for the online version or call 800-638-5660 for the work booklets.

The T. Rowe Price web-based Retirement Income Calculator (www3.troweprice.com/ric/ricweb/public/ric.do) is a user-friendly tool, and the website says it takes about 10 minutes to complete. If you’re organized and have your documents handy, you may cruise through it that quickly, but otherwise you’ll more than likely need 20 to 30 minutes.

In the following sections, we walk you through steps for using the T. Rowe Price retirement planning tools to get a better assessment of your financial numbers as you prepare for retirement. We use T. Rowe Price as an example, but please note that you can select another company’s tool if you prefer.