August 23, 2013

Wells Fargo launches retirement planning online tool

"Whether you’re just starting to plan for retirement, or have been saving for years, My Retirement Plan makes it easy to take the next step toward having a financially secure retirement. While most online retirement planning tools offer a one-size-fits-all approach, My Retirement Plan provides a realistic savings goal tailored to you — and a realistic plan for achieving that goal." According to Bank Credit News, "The savings tool, which uses government data to calculate a user’s retirement income need, calculates a monthly amount to save for retirement and a monthly income if the retirement plan is followed. It also provides advice to customers to help them reach retirement goals." see:

August 22, 2013

Delaying retirement doesn't increase Social Security spousal benefits

“The calculation of Social Security spousal benefits works differently from the calculation of retirement benefits, writes Mary Beth Franklin. For each year a worker delays taking retirement benefits beyond full retirement age up to 70, the benefit is increased 8%. The delayed-retirement credit doesn't apply to spousal benefits.” Source: Investment News
More info from Ray Martin at MoneyWatch:

August 20, 2013

Retirement Income Calculator for Pre-retirees

BlackRock retirement calculator targets 55-to-64 set
"The CoRI Retirement Index, a retirement-income calculator offered by BlackRock, helps people ages 55 to 64 see how much income can be generated by their expected retirement savings. 'The index is intended to estimate the retirement income you'd receive if you invested in a conservative bond portfolio from your current age until retirement at age 65, and then bought an inflation-adjusted immediate annuity to generate retirement income,' writes consulting actuary Steve Vernon, who tested the tool."

August 19, 2013

Answers to Questions about Obamacare for Students

Read or listen (5 min.) to the NPR program by Julie Rovner that answers young people's (college students) questions about the Affordable Care Act:

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