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Free Webcast Walks you through Retirement Savings

From the Department of Labor

Many of us are living longer and will have healthier and more active years in retirement. That makes saving for retirement even more important.

Don’t let the math put you off. EBSA’s Savings Fitness online worksheets make it easy: Enter your information, and the calculations are done for you. In recognition of National Hispanic Heritage Month, we are pleased to share with you the online worksheets in Spanish, as part of our publication Su Dinero y Futuro Económico.

Savings Fitness and Su Dinero y Futuro Económico have interactive worksheets that can help you:

  • set financial goals,
  • calculate your net worth,
  • estimate how much to save for retirement,
  • develop a cash flow spending plan (budget), and
  • make a plan to reduce debt.


In addition, we are holding a webcast in Spanish on September 18 to walk you through the worksheets and give you a chance to ask questions. Please join us. An archived English-language webcast is available on EBSA’s website.

Retirement may seem like it’s a long way off. But the best time to save, regardless of your age, is now. The earlier you start, the more prepared you’ll be when you are ready to retire. If your employer sponsors a retirement savings plan, that is a great place to save. However, not everyone can; only 54 percent of all America’s workers and 38 percent of Hispanic workers have a retirement plan at work. If your employer doesn’t offer a plan, it is even more important that you save on your own.

Regardless of whether or not you have started to save for retirement, and whether you need the information in English or Spanish, EBSA has some tools to get you started, answer your questions and track your progress.

The important thing is to get started today. Fill in your information, let the worksheets do the math, and take the first steps towards a secure retirement.

Sign up for a my Social Security Account

By: Diana Varela, Public Affairs Specialist, Social Security Administration

We are excited to announce that August 17 -23, 2014 will mark our First National my Social Security Week!. Whether retirement seems like it is just around the corner or years away, it is good to know that Social Security is working for you now—even if you are not receiving benefits yet. How? By providing you with the information you need to plan ahead for the retirement you want.

One of the best tools for planning a secure retirement is waiting for you at www.socialsecurity.gov: a my Social Security account. When you create your personal my Social Security online account, you will be able to get your online Social Security Statement, review your lifetime earnings history (and catch any errors while it is easier to fix them), see estimates of your future benefits, and more—important information that can help you plan and save for greater peace of mind.

Opening a my Social Security account online is quick, safe, free, and easy. It takes only minutes. Go to the Social Security website at www.socialsecurity.gov and click on my Social Security. Then follow the instructions for creating your secure, online account. You must be at least 18 years of age and have:

  • A valid e-mail address,
  • A Social Security number, and
  • A U.S. mailing address.

You will also need to provide some personal information and answer some questions only you are likely to know. This process protects you and keeps your information private. There are extra security features, too. You can have unique text message codes sent to your cell phone each time you want to sign in. There is even an address bar at the top of your screen indicating the website has an extended validation certificate. This means the information you provide to Social Security will be encrypted and that the website has been verified by a certification authority.

Once you see your estimated retirement benefits, you can really start to plan, invest, and save with more confidence. You can even explore when you might retire. 

While Social Security will be here to provide you with a secure foundation in the future, it was never intended to be your sole source of retirement income. You may want to put aside more for a comfortable retirement.

And once you do retire, or start receiving benefits for any reason, your my Social Security account is the best place to manage those benefits. You can use your account to get an instant benefit verification letter, change your address and phone number on Social Security’s records, and start or change direct deposit of your benefit payment.

More than 11 million people have opened a safe and secure my Social Security account. Join them—take control of your future retirement security by signing up for a my Social Security account. Learn more and create yours today at www.socialsecurity.gov.

It is never too early—or too late—to plan for retirement.

Read this note in Spanish.

9 Tips to Help You Plan Your Retirement

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Making financial decisions can be confusing and overwhelming, to the point that you do nothing to prepare for your financial future. But this Financial Literacy Month, we’re helping you understand finance basics so you can make money decisions with confidence.

Step one was understanding your credit.

Step two is planning and preparing for your retirement. Starting early will help you establish a sound financial future down the road. These tools and tips will help you get started.

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Order the FREE Financial Foundations toolkit to get advice and confidence you need to make sound money decisions.

Make sure to follow us on Twitter, Facebook, Google+  or our blog using the hashtag #mymoney to get the latest updates.

It’s never too late to start saving for retirement. These strategies for late starters can help.