What is AskRetire! Click Here to Go to AskRetire.net
AskRetire! is a comprehensive macro driven spreadsheet program written in Excel and Lotus formats. The program walks the user through the different screens with built in directions and examples for the user to answer all the questions needed to determine retirement possibilities. The program offers a clear concise insight on whether the user can retire comfortably based on input. With the ability to use either the macro buttons built into the spreadsheet, along with worksheet tabs, the user can back up, go forward, and or begin from any point within the program. The user will accomplish, at the end of the session, a one page summary detailing if the user’s earnings from investments earnings will be in excess of projected living expenses on a monthly basis, or whether the user will have to use a portion of their savings along with earnings to reach the desired retirement spending goal, and how many years that will last. Also, a graph is included to view the Investment Balances, and Household Expenses versus Expected Retirement Earnings.
With this valuable tool, the user can save their information, return when they have a new 401k or other investment statements and continue with constant updates. The user can play what ifs, to determine the benefit of simple or complex changes in savings plans. Some examples may be:
· What if I add another half percent to my annual 401k plan?
· What if I add another $50 to a monthly stock purchase plan?
· What if I want to retire one or two years earlier than original?
· What if I want to retire at a higher level of living status than I currently have, to afford travel?
· What will different levels of inflation do to my retirement plan?
The number and types of questions and scenarios are only limited to the user’s ability to understand the concepts of planning model, and their individual ideas of ways to plan for retirement. AskRetire! is not intended to replace professional advice on different types of investments that are available as provided by the user’s own research or investment advisors. However, once the investment types are picked by either the user or the investment advisor, the program will be able to incorporate these with other current investments and evaluate what earnings potential is needed to reach the final retirement income level. Also after the user has invested in suggested investments from their advisor or decisions on their own, and later earnings statements are received, the user can enter current investments balances and earnings since the last update, and compare to see if they are performing to the levels necessary.