I often challenge people to dream about their retirement in high definition. So, what does that mean? It means you should envision your retirement dream with clarity and detail, and the new and improved Retire Inspired Quotient (R:IQ) will help you get there. If you’ve used the tool before, you’ll notice the changes right away. If you’re new to this online assessment, discover how it can help you begin planning for retirement today!
Here are some of the new features:
Once you’ve completed your R:IQ, the tool creates a checklist specifically for you. It outlines the things you need to do so you can retire without any financial worries. It even tells you how much money you need to put away every month. You might be surprised at some of the items on the list—like preparing a will. We’ve included those steps because retirement isn’t just about earning money. It’s about being smart with your money and other assets, not just for retirement, but for your family too. These are a few of the other items you’ll see on your checklist:
- Life insurance—This replaces your income for loved ones who rely on it.
- Budgeting—Every month, you need to tell your money where to go, even in retirement.
- Debt—When you are in debt, you’re not only borrowing from a bank; you’re also borrowing from your future. Get rid of it as fast as you can!
- Emergency fund—Life happens. An emergency fund puts a cushion between you and the unexpected.
- Investing—Once you’re debt free, you need to invest at least 15% of your income every month.
Completing the checklist gives you the best chance of a stress-free retirement because you’ve done all the hard work to get you there. You can even print off the list. You can use it to discuss retirement with your family or hang it on the fridge as a reminder of your goal.
Remembers Your Data
Once you’ve used the R:IQ tool, you don’t have to start all over again unless you want to change the numbers and create different possibilities. Remember, you’re not aiming for an age, but a financial number—the amount you’ll need to live your dream retirement. Keep in mind, though, that the R:IQ only saves your most recent information. It doesn’t save every scenario you create.
Plan on the Go
If you’re using your smartphone or tablet to use the R:IQ, you’ll notice even more changes. We’ve redesigned the mobile experience to be more user-friendly and easier to navigate. No more pinching and zooming!
There are lots of other small changes, like sliding bars and improved graphics. And we’re already working on even more enhancements to the tool, so be sure to check back as the new features become available.
Ignoring your retirement won’t make it go away. You will retire one day, whether you’re ready or not. With the R:IQ, you’ll find out where you are financially, where you want to be, and how to get there. And if you stick to the plan, your retirement dreams can come true. Get a plan and work your plan until you reach your goal!