Web-Based Tools

Online Retirement Income and Benefit Calculators

Retirement Income

  • Choose to Save – Ballpark E$timate– This is among the best on-line free calculators you can use for determining if you are saving enough to remain financially independent during retirement. A modified version is available for federal employees.
  • We also recommend the Choose to Save website as an all-round great source of information pertaining to many aspects of financial education.

Social Security Benefits

We recommend that you review the annual benefits statement from the Social Security Administration. Be sure that the work history looks correct since this history will be the basis for your actual Social Security Benefits.

  • This calculator will provide an estimate of your monthly Social Security Benefits.
  • Choosing when to claim your Social Security Benefits will be among the most important financial decisions you ever make. The Social Security Administration has as much detail and information as you should need.

Medicare Benefits

  • Nearly everything you should need to know about your Medicare benefits can be found at this site.

Online Retirement Income and Benefit Calculators for Federal Employees

Retirement Income

  • This calculator enables federal employees to estimate the tax free portion of their FERS annuity.
  • This calculator can provide insight about your retirement income.
  • This website will help active duty military personnel and their dependents understand their benefits. Within the Retirement Tab you will find calculators to help you estimate what you military pension is likely to be.

Thrift Savings Plan

  • This calculator can help you to see how to take advantage of the investment and borrowing provisions in your Thrift Savings Plan.

Federal Employee Life Insurance

  • This site will enable you to find premiums for different levels of insurance.

Federal Employees Long-Term Care Insurance

  • This site will enable you to calculate premiums for varying amounts of long-term care insurance available to federal employees.

Financing College

  • This calculator, which is provided by the Department of Education, will help families plan for the financing of their child’s education. It effectively walks you through the financial aid process and calculates what colleges might expect you to be able to pay. This site is linked to the site you will need to visit when you apply for financial aid. Nearly every college in the country will require that you file the Federal Application for Federal Student Aid, or the FAFSA form. Visit their main website for more.
  • The College Board has a nice website for parents and their children to learn more about the college application process. There are sections on financial aid, loans, and scholarship programs. There is also calculator that will help you to understand what many colleges might expect you to be able to afford to pay.
  • This site enables you to compare state sponsored 529 plans, but also has articles about financing college. Although free, this website is owned and operated by Bankrate.com, which is a publicly traded financial publishing firm.
  • Maryland tax payers who contribute to the 529 plan established by the State of Maryland can deduct part of those contributions from their Maryland State Income Taxes. What makes this tax incentive even more attractive is the fact that our State 529 plan is usually highly rated. Visit this site to learn more about the plans and the options as well as to open an account.

Investing

  • Would you like to know the cost of your mutual funds or Exchange Traded Funds? This site allows you to look up your funds and find out how much they have been costing.
  • Nearly all publically trades securities and mutual funds must file detailed reports to the government. This is a key site for looking up those filings.
  • This site provides unbiased information about investing. This site is sponsored by the Financial Industry Regulatory Authority or FINRA.
  • This is an investor focused website to help individual investors invest wisely and avoid fraud, which is sponsored by the Securities and Exchange Commission, provides unbiased information and links to useful tools about investing.
  • The Securities and Exchange Commission is where you want to go to learn more about the laws governing investing and those who wish to help you with your investing or sell you a investment product.

Federal Withholding and Tax Questions

  • Did you over or under withhold federal income taxes? You can use this calculator to help you avoid that. Of course, you can also stop by the main page of the IRS to find out more than you will ever want to know about income taxes.

Credit and interest Rates

  • Have you reviewed your credit reports lately? By law you are entitled to review your credit report from each of the three largest credit bureaus, once a year, for free. You can ask for your reports from all three credit bureaus at once to compare at a point in time. Alternatively you can request one credit bureau report at a time, every 4 months, as a way of monitoring the information in your reports over the course of the year. This is the only website established to administer this. All other websites are intended to sell you a credit report alert system.
  • Bankrate.com is a good place to start when search for interest rates – either to earn when saving or pay when borrowing. Bankrate.com is a publicly-traded publishing company that has long specialized in banking issues. While there is no charge to look, there could be better rates available at institutions that have decided not to pay to advertise here. Nevertheless there are good articles, calculators, closing cost information, and other consumer tools available. Bankrate.com operates nearly a dozen other websites with different names but with similar information.