September 2, 2016
best Retirement Calculators

Can Retirement Calculators be Trusted?

Welcome to another series of my article on retirement calculators. If you are confused about how much you need to save for your retirement, then relax because you’re not alone. There are so many people out there like you who are also worried about this task. The Retirement Confidence Survey by the Employee Benefit Research Institute 2012 state that less than half of all survey respondents try to calculate how many savings they need to be able to guarantee successful retirement while about 42% of workers guess at this amount.   For employees to accurately determine how much they need to save for retirement, it is highly recommended that they should embrace online retirement calculator for help. I am not just suggesting an online requirement calculator; I have tested and tried different retirement calculators that are free and readily available online for anyone to use and see how it works.   I came up with some results that show the reason why so many people may end up not being able to use the available online retirement calculators. The reason also being that some of these retirement calculators are not user-friendly, some ask for input on assumptions that only actuaries […]
August 13, 2016

Thinking of moving? – Financially Simple

Thinking of moving? Perhaps you’ve just interviewed for a job with a new company or maybe you’re current employer has set the wheels in motion by asking you to relocate. Whatever your situation, if you’re considering packing your bags and moving to a new city, there are a few things you may want to take into consideration before you load those boxes into a moving van just yet. In a recent meeting I had with a client, they were trying to decide which town would offer them the best value of lifestyle for their income. In order to narrow the field and make the right decision , a true cost of living comparison needed to be made on a couple of different towns. Here’s an example. Let’s say a general dentist, Dr. Smiles, earns $160,000 a year in Knoxville, TN. Now he wants to sell his practice and migrate south to Cape Coral, FL. Using this simple calculator, Dr. Smiles can make an informed decision on his plans. The first point to take note of is the cost of living is 12% higher overall. That means in order to maintain his current lifestyle, the good doctor would need to make an additional $19,477 a year. He can easily see […]