The National Retirement Planning Coalition recently declared April 9-13 is National Retirement Planning Week. The week occurs in the middle of April which is financial literacy month, and the coalition, a group of financial industry leaders and advocacy organizations, are working together to increase awareness of the need for comprehensive retirement planning.
The National Retirement Planning Coalition understands that American consumers need more education on retirement planning and the value of various financial products to help secure a stable financial future. The coalition is on a mission to make retirement planning education a national priority and is using National Retirement Planning Week to share information, activities and research demonstrating the many ways retirement planning tools and preparations can help Americans retire on their own terms.
When comprehensive retirement plans are properly developed and managed, consumers have many options regarding how, where and when they want to retire and enjoy their golden years. Apart from lectures, workshops and other local retirement planning activities, the coalition also maintains an informative website filled with the latest resources that consumers and financial professionals can utilize to stay focused and achieve long-term financial goals.
The coalition was first started by the Insured Retirement Institute, a nonprofit organization that has worked with the insured retirement industry for the past 20 years. The IRI is considered an industry expert on annuities, life insurance and other retirement planning strategies. The IRI works to promote consumer confidence in the value and viability of insured retirement strategies, while encouraging industry adherence to ethical principles and providing better understanding of retirement options. The IRI is working with other retirement and financial organizations to develop and promote best practice standards, and advocate for consumers before public policymakers on critical issues affecting retirement planning activities.
A number of other financial institutions and life insurance providers are working with coalition to share tools and resources to bring retirement planning to life. Some companies, for example, have developed mobile and online tools to break down barriers for many consumers in retirement planning, to make it easier for people to make informed decisions. The mobile solutions enable consumers to research products and strategies around their own schedules so they can plan for retirement in a comfortable and convenient way.
Many providers offer a suite of mobile retirement planning apps, tools and online resources. These suites include virtual retirement consultations with financial professionals to help consumers make informed decisions, as well as retirement income calculators for numerous smartphone operating systems. The tools also come with a Social Security benefits and retirement shortfall calculator helping consumers prepare accordingly for retirement and all its associated costs.