Our Retirement Calculator can help a person plan the financial aspects of retirement. Each calculation can be used individually for quick and simple calculations, or in chronological order as a more comprehensive walkthrough of retirement planning. Different people have different ideas about retirement. Shift the "Income Needed After Retirement" percentage up or down to reflect these differences.
Will they have to work longer? Can they or should they rely on spouses and children to provide long-term care? And who will make critical medical decisions if they cannot? These questions aren't unique, but they are especially critical to Levit's clients because many of them are lesbian, gay, bisexual or transgender individuals and couples that are often single, childless and even when they do form families, have no nationally guaranteed legal provisions to help them work through critical issues surrounding aging and retirement. Compared with traditional couples, gays and lesbians are less likely to accumulate wealth, because of restrictive tax and inheritance laws in most states and on the federal level, said Levit, who is also president of PridePlanners, an organization of financial planners who share education and strategies on how to serve LGBT clients. Gay clients often have to draft a series of proxy agreements to secure inheritances and other benefits that are automatically extended to heterosexuals. Levit said her clients often joke that they will have to work until they are quite old to pay for a comfortable retirement.
View all Submit Blog Do you want more traffic, leads, and sales? Submit your blog below if you want to grow your traffic and revenue. San Francisco, California, United States About Blog NewRetirement provides a DIY planning solution that allows anyone to gain control of their future by building, managing and monitoring their own retirement plan. Covering retirement, Social Security, how much you need to retire, best places to retire, Medicare, and all aspects of retirement planning. This subreddit deals primarily with Financial Independence, but additionally with some concepts around 'RE'.
If you're 45 to 54 years old, you may be at the midpoint of your career when your income is higher. Of course, your financial obligations for home and family may be higher, too—and that can make retirement planning tricky. Here are six tips to help keep or get your retirement savings on track.