Weekly Business Tip: How Much Do I Need in Retirement?

Retirement Planning
Written By Tom Copeland

Estimating the amount of money you will need when you retire is no simple task.

But it's something that all family child care providers should do even if they are decades away from their retirement.

There are a number of retirement calculators on the Internet that can help with this. Here are a few that I found to be relatively easy to use:

* Retirement Calculator (from the American Association for Retired Persons)

* Retirement Planner (from the Wall Street Journal Smart Money)

* Ultimate Guide to Retirement (from CNN Money)

The easiest one to use, in my opinion, is the Ballpark Estimate (from Choose to Save) where you can use an online interactive calculator. I downloaded a PDF version and use it in my money management and retirement workshops across the country.

Image credit: https://www.flickr.com/photos/68751915@N05/6870886851For more information about retirement planning, see my book Family Child Care Money Management & Retirement Planning.

Tom Copeland
Previous

Does Paying Someone Less than $600 a Year Make Them an Independent Contractor?
Next

Q&A: Are Membership Dues Deductible?