Last updated on April 17, 2014 at 8:59 EDT

Jump Start Your Retirement Planning during National Save for Retirement Week October 21-27

October 19, 2012

BLOOMINGTON, Ill., Oct. 19, 2012 /PRNewswire/ — Less than half of American workers have taken the time to calculate exactly how much money they will need to retire comfortably, according to the Employee Benefit Research Institute. One of the reasons the numbers may be low is because many people find it difficult to even start the planning process.

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National Save for Retirement Week is the time to take the first step. To help make this step easier, State Farm has introduced Retirement Illustrated(TM), a new animated, interactive, self-service, needs-based calculator. People have the flexibility of going through the analysis and exploring options on their own before enlisting the help of a professional. Retirement Illustrated(TM) can be accessed from a PC or Tablet device and is available in English and Spanish.

“We want people to know that they can take control of their retirement,” said Joe Monk, senior vice president and chief administrative officer, State Farm Life Insurance Company, Vice President, Health and Mutual Funds, for State Farm Insurance Companies®.

To jump start your retirement planning, Monk offers three easy tips:

  • Start the conversation with loved ones. A tool like Retirement Illustrated(TM) can break the ice and help get the process started.
  • Formalize your plan. Work with a respected financial professional who may have a better understanding of all the options available.
  • Commit to your plan. Committing to a plan enables people to have more choices and be aware of options.

“Having a plan helps people get a clearer idea of what they’ll need later in life and enables them to set attainable goals, track progress and adjust the plan if necessary,” says Monk. “Following the plan gives people a better chance of enjoying their retirement.” Take a minute to jump start your retirement planning with three easy tips.

State Farm agents do not provide tax, legal, or investment advice. Please consult your tax, legal, or investment advisor regarding your specific circumstances.

State Farm Life Insurance Company (Not licensed in Mass., N.Y. or Wis.);
State Farm Life and Accident Assurance Company (Licensed in N.Y. and Wis.);
Home Office, Bloomington, Ill.
State Farm International Life Insurance Company LTD.
Aurora, Ontario

About State Farm®:

State Farm and its affiliates are the largest provider of car insurance in the U.S. and is a leading insurer in Canada. In addition to providing auto insurance quotes, their 17,800 agents and more than 65,000 employees serve 81 million policies and accounts – more than 79 million auto, home, life and health policies in the United States and Canada, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 43 on the Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com or in Canada http://www.statefarm.ca.

SOURCE State Farm

Source: PR Newswire