A Retirement Calculator Can Be Magical
Got Retirement Worries, Get A Retirement Calculator
If you have retirement worries, you are not alone; most people worry about retirement. There are 4 major worries most people have about it. If you want to reduce your worries, find a retirement calculator; it can resolve 3 of the 4 major retirement worries most people have.
Worry #1 – Outliving Your Money
The number one worry people have about their retirement is outliving their retirement income. If you input complete, accurate financial information into a retirement calculator it can give you a ballpark estimate of how much money you will need to retire, part-time or full-time. It cannot advise you on which investments will help you outlive your retirement income; but here is a money tip: annuities are designed to stretch out your retirement savings.
Worry #2 – Forced Back
The next most common retirement worry is being forced back to work due to outliving their retirement money. Most folks do not want to be “forced” to return to the work force for financial reasons. If someone returns to work it is usually because they choose to. Again a retirement calculator can provide you with the calculations to help you retire with enough money to maintain financial stability during your retirement years.
Worry #3 – Affording Health Insurance
Another common worry many people have is being able to afford to pay health insurance premiums with the money they retire with. Thanks to the Affordable Care Act, it will soon be the law that every individual in America buy health insurance. But just because it is the law that you carry it does not mean you can afford to pay for it. So this worry is a real one. Many retirement calculators are divided into sections allowing you to categorize your expenses. Health insurance will be an expense that you may or may not have paid while working, but you will be paying for during your retirement so be sure to include it while calculating your retirement expenses.
Worry # 4 – Surviving Boredom
A retirement calculator can do many things, but it cannot help you adjust to boredom you may experience during your new retirement lifestyle. Many people worry that they will be bored when they retire. Retirement is a new experience; gone are the stressful workdays, but also the camaraderie you experienced with your working friends will change. You will need to find new things to do that do not revolve around work…how hard can that be?