Five ways mobile apps can help you plan for retirement
Did you know that using a mobile app can help you save more for retirement? Just like your banking app helps you manage the money you use today, your retirement plan app can help you manage the money you’ll use in the future. We’ll share five ways mobile apps can help make planning and saving for your retirement easier.
1 Stay close to your retirement plan
Retirement apps give you quick, on-the-go access to your account so you can easily see how you’re doing or make changes. Many have one-touch access or facial recognition, so logging in can be fast, and you can check your balance, change your contribution amount, and review your investments at your convenience.
2 Enroll in your plan
The first step to saving for retirement is to enroll in your company’s retirement plan, and it can be easy with the mobile app. Enrolling is quick, and when you use the app, there’s no paperwork to fill out. Once you’re enrolled, your contributions are automatically deducted from your paycheck and sent to your retirement account.
3 Check in monthly
You can use the app to check your progress and see how close you are to reaching your retirement goals. It’s a good idea to regularly check in on your investments and consider increasing your contributions if you can.
4 Use retirement planning tools
Apps can offer tools to help you plan for retirement. Explore the app to learn what interactive tools are available such as financial calculators or budget planners. Some tools let you create a personalized retirement plan tailored to your specific needs and goals; others track your saving and spending habits so you can see where your money goes to help find ways to save more for retirement. There are also tools that offer guidance on how much you should be saving that can help you set realistic goals.
5 Check out educational content
Many apps provide you with helpful tips and advice on saving for retirement or other important financial matters. By exploring the available resources, you may be able to improve your financial knowledge and then take proactive steps to help improve your financial health. You may be interested in educational information on personal finance and wellness topics such as:
- Investing basics
- College planning
- Understanding the stock market
- Retirement planning
- Paying off debt
- Saving for emergencies
Digital tools for retirement savings—in the palm of your hand
A mobile app can make it quick and easy to keep track of your retirement savings, and these tips can help you make the most of using the app. Whether you’re just starting to save for retirement or trying to fine-tune your strategies, the app can offer you a simple way to plan for your future. If you feel you could use some more guidance, you might consider consulting with a financial professional.
Important disclosures
The content of this document is for general information only and believed to be accurate and reliable as of the posting date but may be subject to change. It is not intended to provide investment, tax, plan design, or legal advice (unless otherwise indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
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