With the Retire Secure Index (RSI), users enter data based on current and expected income and savings and then can see how prepared they are for a well-funded retirement, according to the announcement. The calculator can help people measure how saving and investing more, spending less or adjusting their goals can add more financially secure years to their retirement.
The RSI is a free calculator that requires information such as current income, savings and investments, age and retirement goals. The result is an RSI score, which estimates the number of years a person can expect their retirement funds to last. The detailed results are illustrated in a graph and include strategies to increase the RSI score, the announcement said.
“A snapshot of where you are now helps you to define where you want to be. This interactive calculator shows how the financial choices you make shape your retirement preparedness and how simple changes you make today can get you on track for a more secure retirement,” said Pamela Reed, senior vice president of Wells Fargo’s Integrated Products, in the announcement.
The RSI can be found at http://www.wellsfargo.com/retiresecure.