The U.S. Department of Labor has released a new online resource designed to make it easier for Americans to prepare for a financially secure retirement.
The department developed a series of interactive worksheets as a companion to a 2006 publication entitled "Taking the Mystery Out of Retirement Planning." Using the worksheets, individuals who are 10 to 15 years from retirement can calculate their income and savings as well as their projected expenses in retirement.
"Americans are living longer, healthier lives and need to plan for their retirement," saysU.S. Secretary of Labor Elaine L. Chao. "These interactive worksheets will give workers and their families a better perspective on how much they need to save to ensure that they can realize their retirement dreams."
Although targeted to individuals approaching retirement, the worksheets and booklet are also useful for recent retirees. The worksheets are available online at www.dol.gov/ebsa/publications/nearretirement.html . Free copies of the booklet are available by calling the Employee Benefits Security Administration (EBSA) toll-free at 866-444-3272 and online at www.dol.gov/ebsa (under Publications).