The software, RetirementWORKS for YOU, uses the information supplied by individuals to identify specific concerns that apply to the individual’s household. It then recommends what actions an individual should take and evaluates the long-term adequacy of the user’s financial position, a press announcement said.
Specific questions answered for RetirementWORKS for YOU users include:
- Can I afford to retire when I want to?
- When should I sign up for Social Security benefits?
- What should I be doing about health coverage and long-term care insurance?
- Can I afford to stay in my home, or should I consider selling and downsizing?
- If I stay in my home, should I pay off my mortgage, or tap into the equity?
- Do I need more life insurance, or should I reduce the amount I already have?
- Which of my assets should I liquidate first?
- Do I have the right legal documents in case I die or become incapacitated?
- What should I do to provide for my kids or a special needs relative who might survive me?
- Would an annuity help me meet my financial goals?
- What should I do about my pensions?
The cost for the software is $250 per family for the first year. More information can be found at www.StillRiverRetire.com/RW2/RW24U.asp.