5 Great Online Tools for Planning your Retirement

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The old adage that it is never too early to start planning for retirement might be a cliché, but it rings truer than ever today. With so many other financial issues to worry about, retirement planning often takes a backseat to everything else for many people. It as daunting a financial task as anything else, but
it is something that needs to be considered as soon as possible.

Thankfully, there are a lot of excellent online tools that can help you with the process of planning for your retirement. Many, but not all of them, are offered by large financial corporations and serve to entice new customers, but most of these services have both free versions to check out and advanced paid versions for people who find them to be incredibly useful. Here are five excellent online tools that can help to start planning your retirement today.

WealthRuler

This is a great tool for people who are very visual when planning things because it takes all of your financial information you input and then makes very easy-to-follow graphs depicting your retirement goals. It is very easy to use – just plug in all of your financial information that the website asks for and get your results. If you are looking for a fast and surprisingly accurate retirement planning tool, this is a good one.

Vanguard Retirement Calculator

Here is a calculator that is very popular because it provides you a variety of options. There are different calculators available on this site for people in different financial situations. There are separate calculators for people who are already retired and want to know how long their money will last, people who are less than five years away from retiring and those who are more years away. It is a great tool to use if you want to know whether what you are saving and putting away for retirement is really going to be enough.

ESPlanner

ESPlanner is one of the best financial planning tools available online. Even the free basic tool is fantastic. It might take a little longer to enter in your financial details, but it is worth it, because you will get a very specific picture of your financial situation comparing your goals and your current situation. If you are looking for a tool that gives you a very detailed overview of everything from investment returns to retirement spending needs, this is the one to check out. It’s definitely not a tool for people who are looking to get quick estimates and it will take some time to figure out.

AARP Retirement Calculator

The AARP calculator is yet another calculator that is very simple to use and works according to the principle of asking you questions about your financial status before giving you an idea what your plans need to entail according to when and how you want to retire. One of the best things about this calculator is that it can be tailored for people according to whether or not they are single, have a spouse or significant other, children and various other personal situations.

Principal Goal Calculator

This tool obviously works better if your company offers its 401(k) through Principal, but it can give you a good estimate for planning your retirement even if you are not connected to Principal in any way. It also you to uncover the essential facts that you are looking for, namely, whether you are saving enough to retire on schedule, and if you are not, what you need to change in order to meet the goal. Once you get your retirement plan figured out, you can save it as a PDF for quick reference as well.

David Lazar is a blogger at CometDocs.com. With a background in journalism, he enjoys writing aboutand following a variety of topics, including careers, education, technology and new media.

The Senior Citizen’s Gadget Purchasing Survival Guide

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The Senior Citizen’s Gadget Purchasing Survival Guide

by Stacey Thompson


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The marketplace (both online and offline) is rife with gadgets and gizmos aplenty. Even the most tech-savvy person of this age couldn’t be relied upon to know each and every one, much less know which are the best for one’s money. There are brands and standards we put faith in, and so there are fronts and fandoms that champion their product choice while degrading those who choose otherwise.


There are literally thousands of digital voices out there, each with an opinion. How are you, the venerable old timer who may not have enjoyed these digital devices during the days of your youth, be able to tell which product to buy?


There was a time when a telephone was just that: a device that enables you to call another telephone and have a chat with the person on the other end. Now, the average smartphone has nearly all the capabilities of a personal computer, a television set, a radio, and possibly other  electronic appliances. To top it all off, it also fits in your pocket.

How does one get a simple and reliable mobile phone so one can get in touch with his or her family? These newfangled tablet computers seem to be the rage with everyone, including less tech-savvy people… how am I to choose which one to get? Isn’t “Android” some kind of robot? How do I charge all these doohickeys at once?

You need help, and I have a short checklist that points the way for you to find it.

Research on Technologies (e.g., Google & Wikipedia)

It all begins with the search engine. Find out as much information as you can about the product/s you are interested in. Here’s the part where you get to learn about the technologies behind the gadgets you are about to purchase. Don’t worry, you don’t need to build one, but it pays to understand how things work.

It also helps to know the history behind how these innovations were discovered and invented, as well as the brilliant minds responsible for it. Don’t use your advanced age as an excuse not to learn something new.

Electronics Review Sites (e.g., CNET)

After learning some tech jargon and one step closer to knowing exactly what you want to buy, head on over to a site that reviews consumer electronics and gadgets. This is where you will get acquainted with the various brands and companies that are in the business of manufacturing, marketing, and selling these digital wonders.


You will also acquaint yourself (read: get shocked) by how much money one has to invest in these geeky delights. It will take some time to get over how much one has to pay for pocket-sized devices, but remember that these gadgets are very powerful and omni-useful.

Social Media (e.g., Facebook)

You have absorbed a lot of knowledge regarding these newfangled gadgets, and are almost ready to pull out your wallet for one… but wait, not just yet. It’s time to find out what other customers think about these products.


Some of the electronics review sites actually allow consumer feedback, so be sure to read up on the opinions and reviews found there. Take the extra step and wander over to a big social media site and see if there are any pages dedicated to praising (or demonizing) the gadget/s you have an eye on.


Tech-Savvy Consultant (e.g., your 10-year-old grandson)

Finally, it’s good to have a family member giving you some advice and holding your hand while you head off to the electronics store (if you’re still wary against ordering online, that is). You might want to buy him a videogame of his choice as reward for helping you out with your gadget purchase, too.

Happy gadget hunting, and Happy Holidays to everyone!

About the Author

Stacey Thompson is a professional writer, marketer, entrepreneur, and a lover of weird little animals. She is based in San Diego, California, and is currently working with her gal-pals in making their blog pretty, Word Baristas.

Tips for buying the perfect gift for your grandchild

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Buying a gift for a grandchild can be a bit like reaching around in the dark if you aren’t sure what they really like. Buying a gift and including the gift receipt is almost admitting defeat. Gift cards are easy but they undeniably have little heart. Any gift you buy your grandchild will have a special place but if you really want that gift to stand out there are a few steps you can take to make that happen.

Get them outdoors
Their parents will love you for encouraging your grandchildren to get outside. Sports equipment will surely give them the hint and encouragement to spend a little time being active. If you know your grandchild already has an outdoor hobby, like surfing or hiking get them something related to that hobby. Don’t know anything about surfing? That’s OK, a quick website search will give you plenty of ideas for gifts for surfers. For that grandchild who is into Boy Scouts gifts for hikers will definitely come in useful for those
scouting trips.

Stick with the Classics
Many toys today are basically miniature computers, packed with so many electronics, flashing lights, sound effects, and other features they require an instruction manual just to play with. Trends in electronic gadgets and games change seemingly by the week, so unless you’re in to technology you may be better off giving a gift of enduring popularity, like a high-quality wooden toy. You’d be surprised how often a simple but quality toy will capture a child’s imagination better than fancy gadgetry.

A great gift doesn’t have to be expensive
When it comes down to it a great gift doesn’t have to be expensive. My husband’s grandmother had 41 grandchildren. Because she was on a budget gift-giving was expensive. Instead, she gave each grandchild a card with $1 and a single stick of Wrigley’s gum. It wasn’t much but it was something every grandchild came to expect and appreciate each Christmas. If the card was late, you better believe there were children asking their parents about it.

Providing a great gift doesn’t have to be expensive. Something completely heart-felt can become a tradition. If budget is a concern, spend some time thinking about something small you can give your grandchild that they’d still love. Remember, how you loved butterscotch candies or hard candies? These days, save the hard candy and send any kind of sour candies, they will be a hit. Or give them a taste of the candy you ate as a kid.

If you want to save their teeth and still stay within budget know that even their high technology interests have low-budget options.

Head to an office supply store and get a flashdrive. They can use it to save their computer games, their music, or even their homework.

Batteries are always a great bet if you are on a budget. Video games usually require some batteries, especially game controllers and remotes.

Blank CD or DVD disks are also useful, inexpensive and easy to find at a place like BestBuy.com. They can be used for a variety of data storage needs from movies, to music, to documents.

Be a spy
Really discover your grandchild’s interests. Check with their parents to get an idea. But then go to the next step. If you can, visit with your grandchild and check out their surroundings. Take note of posters on their walls or brand names they are wearing. Don’t be afraid to ask “So, what’s that, a band or a video game or something?”

Or if it’s a brand they are wearing take note. Sometimes getting a grandchild to talk may be hard, especially if he or she is a teenager, but questions like these can get even a few words from them that will give a clue as to their interests.

Write down any video game, movies, brand or band names they like. Even if you don’t know where to find those gifts having that information can help a sales associate help you find them.

If all else fails suggest they create an online wishlist. Wishlistr.com allows people to create a wishlist of what they like and share it with friends and family. A wishlist doesn’t mean that you have to get what is on the list, but it will help clue you in to related gifts they may want. If the list doesn’t help you come up with related ideas take it to a retail store and have a sales associate take a look and offer suggestions.

Shelly Cone is an award-winning journalist, copywriter, humor columnist and the owner of Beach Betty Creative. She writes for the love of it, laughs because she can’t help it and knows how to pick the perfect gift every time.

How Veterans can get Cheaper Car Insurance

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If you are a veteran and you are shopping for car insurance, it is time to learn about all of the discounts you may qualify for. Many veterans put off quoting car insurance because they feel like the process takes far too much time, but with the convenience of the internet, quoting insurance and researching insurers who cater to veterans does not have to be an inconvenient or time-consuming task. Rather than just renewing your high-priced policy, do your homework and take advantage of the hefty discounts that some insurers offer. Read on and find out just how you can start saving money because of your veteran status.

Why Will Being a Veteran Qualify You For a Discount?

Insurance is based on statistics. There are thousands of insurance actuaries working for various companies all around the nation who spend their time reviewing claims statistics and coming up with formulas. These rating formulas are designed to assign higher premiums to more risky drivers and lower premiums to individuals who are believed to be more experienced and more responsible on the road. Because veterans are seen as responsible, law-abiding, and stable individuals, they may qualify for a discount because of their status. With lower risk comes the opportunity to pay lower premiums.

How to Find Companies Offering Car Insurance Discounts to Veterans

If you are shopping around for lower priced car insurance on the Internet, you should request quotes from companies who specifically cater to veterans and offer discounts to veterans for their service in the military. You may be surprised to hear that there are several companies in the industry that offer 5 to 15 percent discounts off of premiums simply for being a veteran. Companies like USAA and Armed Forces Insurance cater strictly to active duty and retired military personnel. These companies offer rates to veterans that are typically 10 percent lower than civilian policy premiums and provide the same level of protection. These companies are also well-known for going above and beyond for their clients and are great options for car insurance for veterans.

Other Ways to Save Money Off of Your Already Discounted Policy

Taking advantage of a veterans discount when it is available is not the only way you can save money off of your premiums. In fact, most companies offer dozens of other discounts you may not even know about. Here are some of the other discounts that you should ask your agent about when you are requesting an auto insurance quote:

  • Non-smoker discount: You are considered a lower risk while on the road.
  • Low annual mileage: If you drive less than the average driver, you may qualify for lower rates.
  • Experienced: When you have many years of driving experience, you may qualify for an experience discount.
  • Driver Safety Training: If you complete an accredited safety course, you may qualify for a discount for up to 3 years.
  • Multi-line: If you have home, health, or life policies, you may qualify for a multi-line discount.
  • Anti-theft: Aftermarket passive or active alarms will qualify you for savings.

When you are shopping for a more affordable policy, it is important to remember that you need to find a policy with the appropriate level of protection. Do not sacrifice your protection on the road to save money on your auto insurance. If you take advantage of the discounts you have worked hard to earn, you can save money and buy even more protection to keep you and your assets safe while driving.

Arlene Nguyen is a freelance writer who writes about insurance issues.

Impaired Credit Isn’t Limiting Senior Citizens

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Baby Boomers make up too much of the population to ignore. Often, the national spotlight turns to their healthcare problems, potential political influence, and – most importantly – their financial issues. The latter is especially true in regard to housing, where the most recent reverse mortgage scandals hearken back to the days of the subprime lending crisis.

The Boomer generation is facing retirement; some of its constituents have already hit that age. Whether they are financially capable of it or not, most of them are retiring anyway because – as anyone who’s lived a fruitful life can attest – they feel they deserve it. But some seniors didn’t properly prepare for retirement and tried to take advantage of refinancing their homes with easy credit to afford that dream vacation or long-awaited cruise. Now that the financial debris of the housing collapse has settled, they’re trying to get out of adjustable rate mortgages or facing staggering amounts of debt. And that’s if they didn’t lose their homes to foreclosure altogether.

Despite losing a home to foreclosure or taking big hits to their FICO scores, there are still plenty of options available to seniors who are looking for a new home at retirement age. If there’s one thing Baby Boomers have proven, it’s their capacity for resourcefulness and their ability to overcome hardships as they continually re-shape each passing decade and getting financed for a home loan late in life is no exception.

Federal Housing Administration loans, or FHA loans, offer plenty of options for first-time buyers and individuals with subpar credit history. These loans are beneficial to lenders because they insure against default for borrowers who are paying less than 20% down. Some FHA loans require as little as 3% down, perfect for seniors who may want the extra cash they have saved away to go toward a well-deserved tropical vacation.

FHA loans are also attractive because they can cover closing costs and other fees such as mortgage insurance, leaving no out-of-pocket costs. Additionally, they feature minimal fluctuation to their interest rates throughout the term of the loan, ensuring that seniors on fixed incomes are able to maximize their budgets.

Some Baby Boomers are finding success with creative rent-to-own financing options. In a housing market tipped in favor of buyers, it’s not difficult to find a seller hard-pressed to get rid of a property. Renting to own is mutually beneficial because it allows borrowers flexibility to negotiate financing terms while providing sellers the opportunity to fetch a higher price than they would on a short sale.

Linda Tavarez is a home credit consultant with HomeStarSearch, a pioneer in the rent to own home ownership search industry. She remarks that “we are seeing a momentun-gaining trend among a select group of seniors opting for lease to purchase arrangements. I don’t advocate it for all seniors, however a select group has found it beneficial to their circumstances.”

Rent-to-own financing hinges upon a contract to which the buyer and seller agree. During the lease period, which is generally three to five years, borrowers make payments that include the cost of the mortgage, plus partial down payments which go toward the home when the leasing period ends. This means borrowers don’t have to pay a lump sum down payment up front. The leasing period also acts as a credit rebuilding period since the borrower is generating equity with each monthly payment. A solid alternative to traditional financing for seniors, renting to own allows them to work out the details of the loan directly with the seller.

Seniors who have a positive relationship with a home seller may also benefit from owner financing. Similar to rent-to-own financing, the details of owner financing are worked out intimately between the borrower and the lender. Often, this can yield lower down payments and reduced interest rates for borrowers.

In an owner financing scenario, the home owner acts as the bank and receives monthly payments from the seller that include mortgage and interest. The property remains in the owner’s name, but the financial responsibility falls to the owner. Owner financing differs from renting to own in that there is no leasing period at whose end the borrower is obligated to purchase; therefore, it is in seniors’ best interests to ensure that the details of an owner financing arrangement imply eventual ownership for the borrower.

Not all seniors suffer from extreme credit problems. Though many may have less-than-stellar FICO scores, they may still be eligible for traditional bank loans. Borrowers who want the security of well-established bank funding should be prepared to pay large down payments, up to 30% of the housing cost. Additionally, interest rates will be elevated to match the credit risk the lender is taking. One way seniors can offset these costs is to reduce the amount financed. Selecting a more affordable home will require a lower down payment and less expensive monthly payments.

Despite the risk that Baby Boomers with subprime credit ratings present, there are still lending options available that will not exploit their financial situations. Of course, this requires careful research from those seniors in the market for a new home, but their generation’s proven track record of overcoming hardships and enduring change will be a testament to their eventual success.

JRD writes on a variety of personal finance and real estate topics. Holding a B.A. in Economics, JRD enjoys discussing societal ramifications of personal finance mainstays.

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