Confessions of a Poor Money Manager

Thinking about retirement? CNN Money says, RUN THE NUMBERS

Using their online free calculators you can determine how much work you have left to do. The Retirement Calculators will help you determine the following:

What you need to save

How much to put away each year if you hope to retire at age 65 with 80% of your pre-retirement income.

How fast will your savings grow?

Tell us how much you have, how long you will save and at what rate, and find out what your nest egg will grow to.

How much will you need?

Get an idea of what kind of nest egg is necessary to replace your income.

Can you retire early?

Tell us your age and income and learn how much you need to invest if you want to retire by age 60.

How does your net worth compare?

See where you rank based on your age and income.

When will you be a millionaire?

Tell us how much you have, how long you will save and at what rate, and find out when your nest egg will hit 7 figures.

You can’t argue with the cold hard facts. Go ahead, plug in the numbers and see where you stand in preparation for retirement! The old adage, “what we don’t know can’t hurt us” is really, really wrong!

Ashley Clayton, money management expert, providing support and guidance to pastor’s financial management ministry to their congregations.