San Francisco, CA (PRWEB) April 24, 2013
NewRetirement.com today announced the launch of its one-of-a-kind holistic retirement calculator. This new calculator uncovers tens or hundreds of thousands of dollars in retirement benefits for both the typical do-it-yourself retirement planner and for the average saver who receives financial advice from a retirement planning professional.
Baby boomers working on a retirement plan are familiar with online calculators that help answer the question: “how much money do I need?” The NewRetirement calculator goes beyond merely answering that question. In a few easy steps, it suggests concrete actions that will increase a typical user’s total retirement benefits or income by tens or hundreds of thousands of dollars. With simple online access to a network of retirement planning professionals, it also can guide website visitors to a financial advisor who can answer the question: “how do I plan for retirement?”
The typical visitor to the NewRetirement retirement calculator is a husband doing research for himself and his spouse. He and his spouse are in their early fifties, with an average annual household income over $85,000, retirement savings in excess of $275,000 and about $185,000 of equity in their home. With about ten years to go before they plan to retire, the calculator will suggest many possible improvements to enhance their financial situation. In this couple’s situation, the NewRetirement calculator recommends several concrete actions. One such action, for example, is to purchase an annuity, which guarantees income needed to cover basic expenses in retirement. Taking this action alone can produce a net retirement benefit of $140,000 or more.
For this typical couple, the retirement calculator will also suggest working longer, purchasing long-term-care insurance, speaking with a financial advisor, and either refinancing or waiting to use a reverse mortgage later, among the other plan improvements. When combined in a holistic retirement plan, these actions can quickly add up to several hundred thousand dollars of secure retirement benefits or income. Website visitors with more assets and retirement savings often uncover a million or more dollars of previously unexpected benefits or income.
For the visitor who also wants professional support, the NewRetirement retirement calculator simplifies the planning process and the selection of professional services. All visitors receive the following: a free online analysis of their current financial situation and future risks, suggestions for ways to minimize their risk of running out or money and methods to maximize their total retirement benefits or income from their assets. For users that have specific questions, they can immediately access NewRetirement’s network of retirement planning professionals. These financial advisors are waiting to provide financial advice and custom tailored answers to their questions.
A common question visitors have is “when should I take Social Security?” The quick answer proposed by the calculator for our typical visitor in their early fifties is to collect a larger social security benefit by postponing their retirement age until near sixty-seven, rather than retiring at age sixty-two. Going a step further, the calculator also offers one-click access to any of the following: a free consultation with a financial advisor, paid advice from a Social Security expert, or even posting their question in a forum. Retirement professionals answer these questions and other users offer lessons from their own experience.
The calculator also accommodates atypical users. The social security benefits question provides another good example. Maximizing social security income is often complex, particularly for many married two-income couples. In a recent post, a husband wanted to coordinate the timing of filing for his social security benefits and filing for his wife’s benefits because he wanted to maximize their combined total lifetime social security benefits. They had an added complication resulting from his public pension income and part-time retirement income. Shortly after he posted his question, a NewRetirement financial expert, the industry-acclaimed Bud Hebeler, was able to take into account their unique situation and suggest the appropriate steps to maximize their total benefits.
Steve Chen, NewRetirement’s CEO, observes, “according to the Employee Benefit Research Institute, seniors’ confidence in their ability to retire comfortably is at an all time low. Our hope is that people near retirement age will use our free online retirement calculator and make the best of what can otherwise be a difficult situation. With a large team of financial professionals at the ready and in-depth online analysis, our NewRetirement calculator provides visitors with suggestions to improve their retirement finances and receive timely answers to their unique questions.”
About NewRetirement Inc. Founded in 2004, NewRetirement’s mission is to make quality retirement planning available to everyone – online in an easy to use and understand format. Each month, the NewRetirement website serves hundreds of thousands of consumers seeking to improve their retirement financial situation. Annually, NewRetirement connects tens of thousands of these visitors with the products and services that best suit their needs. NewRetirement.com's corporate headquarters is located at 100 Pine St, Suite 590, San Francisco, California 94111. Paul Lowrey, Director of Marketing, can be reached at 888-411-RETIRE (888-411-7384). Email inquires should be sent via the site's Contact Us page. The website URL is http://www.newretirement.com.