Retirement is a huge topic that looms over our heads, but how often do we keep putting off planning for it? The more you put it off, the more it stresses you out. Thankfully, technology has made planning for retirement easier than ever. If you have an Android phone, there are hundreds of app options when it comes to managing your finances and planning for the future. Today we’ll break down some of the best.
1. Freefincal Retirement Planner
The Freefincal Retirement Planner app does the hard work of calculating all of your existing investments, equity, income, etc., and tells you your monthly investment required to build the nest egg you need. It’s not always easy to calculate exactly how much you need to start putting away, but this app helps you make that happen.
2. Pretirement: Financial Freedom
Ever wondered how much your daily coffee habit is cutting into your retirement plans? Pretirement will break it down for you. By calculating exactly how much you could save every day, you can get a full picture of the expenses you should start cutting. It will also help you figure out if you should pick up more hours at work, if you can afford that expensive gift, and how much that will matter down the line.
3. Journal of Retirement
While this app is a little more technical than the others, if you truly want to understand retirement and prepare properly, the Journal of Retirement app will help you do that. It’s more for people who create retirement plans, but staying on top of everything the experts know can help you craft a personalized plan.
4. Retirement Project
The Retirement Project app is designed to foster a community of new retirees to manage the life transition. Inside the app, you can hear from other people and get a different perspective on money, life without a 9-to-5, what new hobbies to enjoy, and so on.
5. Retirement Tutor
Ever wondered what really matters with your finances when it comes to retirement? The Retirement Tutor has you covered. When should you start saving? How many years do you need to save for? What are the best retirement funds? Are alternative investments such as cryptocurrency worth it?
Some people believe that cryptocurrency is like the gold rush of years gone by. They believe that everybody is running towards these currencies right now, but that it won’t last. This may be true. After all, like gold, cryptocurrency is finite, meaning that it will at some point run out, after which the only option is to trade it, rather than to find more of it.
If none of these options help you manage your retirement, another option is a digital IRA.