Whether it’s a deferred annuity calculator or how-to video, there are countless online tools you can use to make smart decisions when it comes to investing and saving for retirement. Here are some of the best online tools and calculators to help you manage your money.
Calculators: Everything from 401(k) to Ballpark Retirement Estimates
Staying on top of your financial situation is imperative if you want to have enough money to live on throughout your retirement. People are healthier and living longer. The old rules about what’s enough for retirement no longer apply. Throw in unexpected global events, such as the recent Brexit vote in the UK that have a direct effect on your investments, and you could find yourself in trouble if you don’t stay informed. Online calculators can help you figure out where you stand.
401(k) and Individual Retirement Account (IRA) Calculator: Current IRS regulations require retirees to begin withdrawing money from traditional 401(k) or IRA after age 70 1/2. The 401(k) and IRA Required Minimum Distribution Calculator approximates your minimum distribution based on the value of your accounts, year-end balance and age.
Fund Analyzer: The Fund Analyzer from the Financial Industry Regulatory Authority (FINRA) offers analysis and calculations on more than 18,000 mutual funds, Exchange Traded Notes (ETNs) and Exchange Traded Funds (ETFs). The easy to use tool lets you compare up to three selected funds, browse funds alphabetically, filter results and has an “Add to Favorites” feature to keep track of your often used funds. Other FINRA calculators include savings, loan and accrued interest.
Ballpark Estimate: An easy to use interactive tool from the Choose to Save® organization, simply fill in the online worksheet and the calculator does the math. Find out how much you need to save to live a comfortable retirement no matter what your current age.
Choose to Save offers a wide range of financial tools, including auto loan, bond, budget, credit card, insurance, stock, Social Security and tax calculators.
Protect Yourself With Scam and Risk Alert Tools
Sometimes there’s a fine line between what’s good and what’s too good to be true. Investments are often difficult to fathom. Staying on top of your finances is only part of the battle. You have to protect yourself from scams and fraud.
Have questions about an investment? Use FINRA’s scam alert to see if the investment you’re thinking about raises any red flags. FINRA’s risk meter analyzes your personality, behavior and characteristics to examine how vulnerable you are to investment fraud.
And finally, have some fun while learning with FINRA’s “Con ‘Em if You Can” online strategy game. Learn about the techniques and tactics used to commit fraud and how to protect yourself against them.
The More You Know…
The Investment Adviser Public Disclosure website is a publicly-accessible federal clearinghouse of currently registered investment firms. Search firms in your location, by name or by individual investment adviser names. View a firm’s business operation information and disciplinary disclosures. Find information about an adviser’s conduct, background, professional history, disclosures and any reported disciplinary events.