For those of you who are thinking ahead and trying to determine how much money you will need to save, in order to live the type of retirement that you've always imagined for yourself, here is a list of useful online resources that can help you get a jumpstart.
The first place you should seek help from is the U.
S.
Social Security Administration, where you can calculate your future Social Security benefits based upon your actual earnings.
TD Ameritrade has a tool known as the Wealth Ruler tool, that will help users to plan for their retirement and offer a perspective based on changing circumstances.
Wondering if there is any particular state that could offer a better retirement? Well, if paying lower taxes could benefit you, you may want to spend your retirement years living in Delaware.
Delaware is known for its tax-friendly treatment towards retirees.
How about spending your retirement years living abroad? If that is your intention, you may want to take a closer look at Panama.
That's right, Panama, where you won't pay taxes on U.
S.
income brought into the country, and if you decide to buy a home down there, you won't be asked to pay property taxes for up to twenty years.
Your retirement years could be spent with a little bit more money with the right annuity plan.
Annuities are quickly becoming retiree's number one choice for extended income.
Websites such as http://www.
annuityshopper.
com, will list quotes from many of the industry leaders in annuities, plus how much you need to pay in and how much you can expect to receive.
There are many other aspects of retirement that savvy retirees should be looking into, including 401k plans and other paid-in investment programs.
For those who may own their homes, see if you can benefit from a reverse mortgage as well.
The best advice for any soon to be, or current, retiree, is to speak with a financial planner directly.