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Fidelity's special service for retirees

As I blogged earlier this week, Fidelity has a retirement planning service aimed at retirees.

The service is called the Income Management Account, and lets retirees divert money from social security, banking, and other types of accounts to what is essentially a Fidelity brokerage account. During the setup process, retirees indicate their spending goals, and the service lets them know as time goes on how well available funds are matching up with those goals. Yo can create email alerts to automatically warn yourself if you start falling behind on your goals.

I'm still several decades away from retiring, so won't be setting up an Income Management Account anytime soon, but this is clearly the way people will manage their money in the future.

Vanguard offers retirement planning calculators on its website, to customers and non-customers as well.mortgage calculator

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