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Online Investing Hacks by Bonnie Biafore

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Hack #96. Save for Retirement While Still Enjoying Yourself

Online retirement planners help you find out if your current plan is working, and tell you what to do if it isn’t.

If you’re planning to live for years after you retire and want to have even more fun than you’re having now, you must build a serious nest egg for retirement. The sooner you start saving for retirement, the easier it is, because you can take advantage of compounding and higher-return investments for your portfolio. You may be able to retire earlier than you had expected if you start saving now. If you wait too long, you’ll have to scrimp before retirement to catch up or pay the price of a lower standard of living after you retire. To find out where you stand and what your next steps are, you must answer some questions and make some educated guesses. Fortunately, you can choose from a number of online retirement calculators that are far easier to understand than trying to calculate this stuff yourself.

Online Retirement Planners

You can choose from several online retirement planners to help you determine how much money you’ll need to retire and whether you’re on track to achieve that goal. Depending on whether you provide rough estimates or details of your financial situation, you can obtain forecasts of your retirement results. Check out these three online tools to see which one suits your needs:

Quicken.com Retirement Planner

At http://www.quicken.com/retirement/planner, you can answer the questions or use built-in ...

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