Speaking about
retirement, you do understand, that earlier you start the planning process,
easier is to reach your goals. The free online interactive visualized planner
from Impact Technologies Group will help you to approach this task in easy and
simple way.
Take about 15
minutes of your time to visualize your retirement through “Define Your
Retirement” step-to-step guide, allowing creating a personal retirement profile,
which will help you make important decisions on your way.
1.
Access starting screen for this evaluation at
the link: https://blackrock.defineyourretirement.info/.
Click Start Over to initiate the
process of the profile development. No need to create account to use the
services.
2.
Start from the Activities you deem important,
defining your retirement style. There are pictures on the top of the screen,
featuring particular activities, you might consider important. You can look
through the photos and move them to one of the three available beans: Very
Important, Moderately Important, or Not Important (trash bean).
3.
Next step would be defining where would be your
dream residence location at the retirement, or at least where you would like to
land at the early years after retirement. The same way as in previous step,
sort all the images in this category for three bins on the page
4.
Next step would be to define, at what age you
are planning to retire. Here, you can add your partner to the picture by
clicking Add a significant other. Move
one (or two) sliders on the timeline to set your preferred retirement age.
5.
On the next step, you have to choose the
potential financial sources to cover your basic needs expenses at retirement
and define on how confident you are in sufficiency of your financial sources to
satisfy your needs.
6.
The same way, on the next page indicate what
sources you are planning to use to cover your interests which go beyond basic
needs, but still are very important to you according to what you have indicated
earlier. Specify the level of confidence that your financial sources will be
sufficient to cover those activities.
7.
The next page reminds that there are particular
financial risks which might affect your plans in achieving your goals. Then you
go through ranking on the perceived risks per each of the six presented
categories, as longevity risks, investment risks, inflation risks, health care
and long-term care risks, public policy risks, and other risks (such as
employment risks, business risks, loss of spouse, etc.)
8.
On the next step, you will review the perceived risks,
you identified earlier for the retirement planning, and rank them based on your
understanding of the highest impact to the lowest impact on your plan.
9.
And, finally you get the summary of the topics
reviewed throughout the process. The online service will not discuss your funds
allocation or financial risks in details, however, the summary will give you
the complex overview of your goals and a way how to reach them. Asking you
different questions on the way, the interactive process encourage you to think
about the issues, which otherwise might not come to mind, if you do not use
professional retirement planning financial services. Summary will also point on
the areas where your plan looks too vulnerable, so you will be able to think
about its solidification ahead of time.
You can also add your notes and print your summary for
further discussion with your partner, family members, or financial advisor.
