Leading Retirement Solutions is participating in America Saves Week 2017, a week dedicated to promoting good savings behavior and encouraging individuals to assess their own saving status.
The theme for February 27th, 2017 is “Save Automatically”, and we are kicking off America Saves Week by giving you 3 great online resources to help you automate aspects of your financial savings life:
1) Vanguard Retirement Income Calculator
Vanguard’s Retirement Income Calculator is a great way to determine if you are on track for having enough money during your retirement. You can compare what you may have available to what you will need.
Easy-to-use sliders allow you to see how small changes in the present will affect your financial future.
2) The IRS Withholding Calculator
The IRS has many free resources that are available to the public to use! One great example is the Withholding Calculator, which can help employees determine whether they need to give their employer a new Form W-4 to avoid having too much or too little federal income tax withheld from your pay. You can use your results from the calculator to help fill out the form.
Things you will need handy are:
- Your most recent pay stubs
- Your most recent income tax return
Estimate values if necessary, and remember that the results will be no more accurate than the input you provide.
3) Yahoo! Finance’s Saving & Spending Calculator
Yahoo! Finance’s Saving & Spending Calculator helps you to recall and itemize your living expenses. An itemization of your living expenses may help you budget better and plan for future expenses.
Saving your money and budgeting is one of the most important aspects of preparing for a secure retirement, and yet it is often neglected. The 2016 annual America Saves Week survey assessing national household savings uncovered some startling statistics:
- Only 52% are saving enough for a retirement with a desirable standard of living
- Only 43% have automatic savings outside of work
Become knowledgeable today about what you need to save tomorrow!
Be on the lookout for our next America Saves Week post!
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