Attention, Ela 55+ program participants:
- To download the corrected version of your handout, click this link: https://karenchanfinancialed.files.wordpress.com/2018/04/is-it-the-right-time-to-retire-handout-2018.pdf
- To print the document correctly, look in the print dialog box under Orientation and make sure that “Auto Portrait/Landscape” is checked.
Monthly Spending Plan, University of Illinois Extension (http://web.extension.illinois.edu/toughtimes/docs/monthly_spending_plan.pdf)
Online tracking spending and budgeting tools – Mint.com
Social Security benefit calculators
- Use your actual earnings history http://www.ssa.gov/estimator/.
- Enter your earnings information http://www.ssa.gov/retire2/AnypiaApplet.html
- Government pension – WEP version: http://www.ssa.gov/retire2/anyPiaWepjs04.htm
To evaluate different claiming strategies:
- http://www.maximizemysocialsecurity.com/ ($40 fee/year)
- https://www.ssanalyzer.com/ (free)
Net worth calculators and forms.
- http://office.microsoft.com/en-us/templates/
- http://web.extension.illinois.edu/toughtimes/docs/net_worth.pdf
Retirement income calculators:
- https://www3.troweprice.com/ric/ricweb/public/ric.do Often cited by popular press.
- http://personal.fidelity.com/planning/retirement/ise.shtml Requires registration if not a customer; somewhat intimidating.
- https://retirementplans.vanguard.com/VGApp/pe/pubeducation/calculators/RetirementIncomeCalc.jsf
- http://cgi.money.cnn.com/tools/retirementplanner/retirementplanner.jsp Can specify if will receive spousal benefit.
SSA Publication 05-10069, How Work Affects Your Benefits (http://www.ssa.gov/pubs/10069.html)
There are lots of moving parts to the new tax law, making it difficult to know how it will affect you beginning in 2018. In three posts that I wrote for University of Illinois Extension’s Plan Well – Retire Well blog, I explain these changes.
