16 resources for the future retiree JULIE JASON
Last week, I promised to provide you with a list of resources that you can use to research retirement finances. Here are two sets of resources. The first 10 are provided by FINRA, the Financial Industry Regulatory Authority ( finra. org). The next 6 are from the Social Security Administration ( ssa. gov).
1. BrokerCheck:
Find out if investment professionals and firms are licensed. This is the first place to start your research when you are looking for help in retirement. ( https:// tinyurl. com/ ryben2x)
2. Investment Professional Designations:
Check on those letters behind a person’s name. What do they stand for? What does it take to “earn” them? ( https:// tinyurl. com/ s3ws8gr)
3. Fund Analyzer:
Compare fees and analyze information on over 30,000 mutual funds, exchangetraded funds, exchangetraded notes and money market funds.
( https:// tinyurl. com/ svfjfld)
4. Market Data:
Here you can find stock quotes and market data on corporate, municipal, treasury and agency bonds. ( https:// tinyurl. com/ hp4pokx)
5. Retirement Calculator:
Do you have enough money to retire?
( https:// tinyurl. com/ sa5lr9a )
6. Savings Calculator:
This calculator helps you review your savings plan and develop a strategy. ( https:// tinyurl. com/ yx7xc9e3)
7. Con ’ Em If You Can:
This interactive tool shows you how fraudsters might influence someone to act against his or her own interests. That way, you can learn about the tricks of the fraud trade and how to prevent being taken in. ( https:// tinyurl. com/ uu56yqc)
8. Risk Meter:
Are you vulnerable to investment fraud? This risk meter will help you determine if you are. ( https:// tinyurl. com/ woha9vj)
9. Scam Meter:
Are you likely to be scammed? This interactive tool will help you assess investments based on whether they are legitimate or scams. ( https:// tinyurl. com/ rfmnadw)
10. Learn to Invest:
These are online courses that everyone can benefit from. Courses include types of investments, advanced investing, and young adults and investing. ( finra. org/ investors/ learn- to- invest)
The following tools are from the Social Security Administration
1. Retirement Age Calculator:
Full retirement age is important to know. This tool helps you determine your FRA and learn how your monthly benefit is reduced if you retire before your FRA. For example, the FRA for someone born in 1959 is age 66 and 10 months. If that person takes Social Security earlier, say at age 65, the monthly check will be 87.8% of the FRA check. ( https:// tinyurl. com/ p3h5qz7)
2. Detailed Calculator:
To use this tool, you’ll have to download and install it on your computer. It is designed to give you “the most precise” estimate of your retirement, disability and survivors benefits, according to SSA. ( https:// tinyurl. com/ vngdxo3)
3. Early or Late Retirement Calculator:
I love this calculator. It is especially helpful for anyone who is thinking about starting Social Security retirement benefits at any time other than FRA. You enter your date of birth along with the date you are thinking about starting benefits. If the latter date is before your FRA, the calculator will show you how much lower your benefits will be. If the retirement date is after your FRA, the calculator will tell you how much more you would receive in benefits. ( https:// tinyurl. com/ ujdme75)
4. Earnings Test Calculator:
With this calculator, you can figure out how current earnings might impact your benefit payments. ( https:// tinyurl. com/ ya7coky5)
5. Benefits for Spouses Calculator:
What happens to your spouse’s benefits if you file for own retirement benefits early. This calculator will tell you. ( https:// tinyurl. com/ y33unyky)
6. Retirement Checklist:
Saving the best for last, this four- page checklist starts off with what you should know before you apply for Social Security retirement benefits. ( https:// tinyurl. com/ qmhodrd)
On another note, if you live near Greenwich, I invite you to attend a presentation I’m giving at Greenwich
Library ( 101 W. Putnam Ave.) on March 12 at 6: 30 p.m. Topic :“Smart Ways to Plan for Retirement Account Withdrawals after Age 70/ 72. ” I’ll focus on creating a plan to manage RMDs, potentially through decades of retirement. To register, go to https:// tinyurl. com/ u9z3h8p contact Yang Wang, 203- 622- 7924, ywang@ greenwichlibrary. org.
Julie Jason, JD, LLM, a personal money manager ( Jackson, Grant of Stamford) and author, welcomes your questions/ comments ( readers@ juliejason. com). Her awards include the 2018 Clarion Award, symbolizing excellence in clear, concise communications. Her latest book, a curated collection of Julie’s columns, is “Retire Securely: Insights on Money Management From an Award- Winning Financial Columnist.” To hear Julie speak, visit juliejason. com/ events.