Tuesday, January 10, 2017

Tech Tips for Baby Boomers Who Are Planning for Retirement

Retirement planning can seem overwhelming at times, but today’s baby boomers have it easier than they might imagine. 

Thanks to the latest technology, you can create a plan, track your progress, and tweak your investments with just a few taps of your finger. Equip yourself with the right tech-based tools, and you can take charge of your retirement efforts in a whole new way.

Invest in a Reliable Smartphone

One of the best retirement planning tools at your disposal is a smartphone. With the right device in hand, you can access a wealth of apps and web pages that will help you create and monitor your retirement strategy. 

If you’re not yet up-to-date on the latest smartphone technology, now is the time to start exploring your options and familiarizing yourself with smartphones as powerful tools.

Look for an intuitive product that you won’t have too much trouble learning how to use effectively. An Android phone like the Galaxy S7 edge is often the best option for users who are familiar with other Google products like Gmail. 

The Google Play app store makes it easy to bring your favorite Google programs right to your smartphone. Combine your powerful smartphone with a fast, reliable network for optimum functionality. 

A provider like T-Mobile can offer versatile plans with plenty of data so you’ll find the perfect fit for your needs.

Explore Apps for Retirement

With your smartphone in hand, you can begin exploring apps that will help you manage your retirement plans. 

Retirement Planner by Swiftmatic LLC is a good place to start. This app will help you compare traditional and Roth 401(k)s and IRAs, calculate how your employer contribution is adding up, and see if you have a surplus of retirement savings or a serious shortfall. 

iMaximize Social Security will help you explore your options for Social Security benefits. MassMutual RetireSmart helps you chart asset allocation and track retirement contributions.

Don’t overlook apps that’s aren’t directly related to retirement. Trulia is a powerful real estate app that can help you find your perfect retirement home. 

AARP Now helps you maximize your AARP membership benefits and find local discounts, workshops, and events.

Utilize Online Planning Tools

Not all planning tools come in the form of an app. There are many useful resources that you can access online. If you don’t have a reliable computer at home, get acquainted with your local library. 

This is a convenient place to hop online and explore all that the internet has to offer. A good smartphone can help you access the internet as well, though not all web pages are mobile optimized for easy viewing on your phone.

The AARP retirement calculator is a practical tool to make sure you’re saving enough for a comfortable retirement. 

It allows you to customize your retirement plan to accommodate the lifestyle you’re looking for in your post-employment years.

Put a Budget in Place

One of the best things you can do for your retirement is to start budgeting well. Today’s tech tools make it easier than ever to stick to your savings plan. 

With an app like Mint, you can keep an eye on every penny that goes into and comes out of your accounts. Mint links directly to your bank, credit card, and investment accounts so you can see everything in one place. 

Intuitive charts and graphs make it easy to get a better view of your financial situation so you can tweak it appropriately to protect your retirement goals.

Update Your Investment Strategy

If you haven’t tried managing your investments online, there’s a new world of possibilities just waiting for you to explore. 

Apps like Acorns and SigFig will help you manage and optimize your investment portfolios. If you’re new to investing as a whole, you can even start with a tool like the Stock Market Simulator app. 

This will help you become familiar with the ins and outs of investments before you sink real money into the effort.

Don’t let the details of retirement planning overwhelm you. Use these tools and strategies to simplify your efforts and tackle the next phase of your life with gusto.

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