You already know that saving now is important to future financial freedom. Building the retirement you envision begins with realistic expectations and solid planning. But how can you know how much you’ll need to save?
Plan for the Future You Want
To see if you’re on track for retirement, use the AHRP retirement income projection tool. With the tool, you’ll be able to use different assumptions to see how decisions you make—such as your retirement age, contribution rate, and asset allocation—play a big role in determining your financial future. You’ll also receive some suggestions automatically about how to change your investment mix to help improve your retirement outlook.
Here’s how it works
- Log on to your account.
- From the Savings and Retirement menu at the top of the home page, choose Project Retirement Income. The site automatically calculates your projected annual retirement income based on the following:
- Projected retirement age (assumed to be age 65)
- Current contributions
- Current investment mix
- Adjust your retirement age and annual savings amount (if appropriate for your planning) to see the possible impact of these changes on your income.
- Take action by choosing the “Get help” link or changing your contributions or your investment mix. If you choose to get help, you’ll have two options from Aon Hewitt Financial Advisors: Online Advice or Professional Management.