By Wendy Mihm | February 7, 2011
It’s 2011 – do you know how much you’ll need to retire?
If you’re like many Americans you feel a bit clueless in this arena. Well, instead of feeling clueless, why not take five minutes, right now, to run some numbers. That way, if you’re off track, you can make a plan to address the problem, or if you’re on track, you can relax and enjoy the ride.
I found an easy-to-use calculator at T Rowe Price and put the link in right there so you can just click, plug, and chug. In fact, I just did it and it was actually kind of fun, in a geeky sort of way.
Now remember, this is just a fun little calculator, and it is not meant to take the place of a thoughtful review and discussion with your spouse, about your retirement goals and strategy. But it can help you see how much money you will have in retirement, based on how much you have invested to date.
And it just might give you a needed kick in the pants to get moving, if the calculator identifies a major shortfall— or a reason to feel great if you’re already on track for a healthy, happy financial retirement.
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