While I would like to believe that the majority of the people in this country are actively planning and saving for their retirement years, unfortunately the numbers tell a different story.
Whether you find yourself in the group that has a solid plan in place for your retirement years or the group that is scratching their head wondering why you need to save anything when you have Social Security – or maybe somewhere in between – NewRetirement.com is a site dedicated to helping you find the information you need to plan for a secure retirement.
There are two key areas of the site that will likely be the area that you spend the most time – Retirement Planning Information and Retirement Calculator.
Retirement Planning Information
The Retirement Planning Information section contains a long list of topics that will be relevant to many people that are attempting to get a grasp on their retirement.
The type of information that you will find in this area includes information on reverse mortgages, annuities, debt consolidation, retirement risks, and more. The information appears to be well-balanced overall and provides both the pros and cons of certain retirement strategies. However, there are some topics that could use a little more discussion on the negative side such as annuities – which are rarely the best option for many people.
There is plenty of information to keep you busy reading for quite some time.
One of the prominent features that you will see as you first visit the site is the free retirement calculator that is offered.
The calculator is intended to give you an idea of how long your money will last in retirement.
It only takes a few minutes to enter the required data, although it might take a little longer depending on how familiar you are with your current savings and income expectations.
There is a handy graph that will update as you enter your information that displays how long your retirement funds will last.
The type of information that you will be asked to enter includes your birth date and expected retirement age, current income and expenses, estimated retirement income, assets and debts.
For your current retirement assets, the calculator uses an assumption that your assets will grow at a rate of 5% per year – including the value of your house – from now through your retirement. There is much debate on whether you should use the value of your home in your retirement planning and it might be too aggressive to assume your property will appreciate at a rate of 5% every year.
Once you enter all of the information, you will see the updated graph as well as a handful of suggestions on additional steps that you can take to secure your retirement.
While completing the calculator for my own planning, I used very little in terms of estimated retirement income as there is no guarantee that social security will provide anything and the likelihood of having a pension are very slim. Therefore the calculator indicated that the retirement expenses were far too high for my retirement income – as my retirement plan relies solely on my savings.
The calculator can be a very handy tool if you do not currently have a clear picture of your retirement or if you would like to examine how various changes can impact the security of your retirement years.
Areas For Improvement
As beneficial as the Retirement Planning Information and the Retirement Calculator can be in your retirement planning, the Answers and Retirement News sections are lacking real substance.
The idea behind Answers – where you can ask a question for your peers and experts to answer – is quite solid, but it falls short due to a lack of participation. There are quite a few questions without any answers at all and many sections haven’t had any interaction for months. The lack of activity is a little disappointing and will likely result in many people passing right by – which it seems is what most people have been doing.
The Retirement News section provides a variety of news sources that display relevant information. However, with the wealth of knowledge that is available on the news feeds it seems like NewRetirement is just scratching the surface.
The site offers the ability for you to create an account, which will be required if you plan to participate in the Answers or would like to save your retirement calculation data.
Given the earlier comments about the Answers section, it appears the only real benefit of creating an account is to save your results from the retirement calculator. Considering how streamlined it is to enter the calculator data, you might prefer to opt against creating an account – as I have done.
Tucked away at the very bottom of the page is a link to the NewRetirement blog. While the blog appears to still be very new – it only contains eight posts – it would be nice to see this displayed in a more prominent location throughout the site.
The blog would appear to be a better solution than the Answers section, as reader participation might be higher within a blog as there is a given topic to direct the conversation.
There are a few areas of the site that can use some attention and it would be nice to see a concerted effort to get the community more involved and active. And even though it is free to sign up for a NewRetirement account, it would be nice to see a little more value provided to account holders.
Overall NewRetirement.com appears to have a good deal of information that can help even the seasoned pro learn a little more about their retirement plan. In addition, the retirement calculator is fun to play with and can help you understand whether you are on the right path or if you need to ramp up your efforts.
Head on over to NewRetirement.com to see if your future is secure.
This post has been a paid review and contains my thoughts on the positive and negative aspects of the site or service in question. With the intent of providing information that is valuable to my readers, if you object to this post please let me know.