May 28, 2021

Add A Retirement Goal in Money Management


Before you start exploring your retirement options, you’ll need to set a goal, or a target number. Experts recommend allocating 15% of your monthly income toward retirement. This number will represent how much you need to have saved for living comfortably and independently throughout your retirement. A good way to set a target number is to take your current living expenses and multiply that by 400. This will give you the amount you’d need to have to sustain yourself, based on a 4% investment return.

To add a retirement goal:

  1. Click the “+” button on the top right of the main Goals window.
  2. Choose the “Retirement” goal type.
  3. If you’ve already entered personal information in the Settings section, your birthday will automatically be imported. Otherwise, you can select the date of your birth by clicking the dropdown menu.
  4. Choose the age at which you’d like to retire. The default is 65.
  5. Enter the amount of money you’d like to have when you retire.
  6. Click “Current Savings.” This will open a window from which you can choose a retirement account.
  7. Check one or more retirement accounts. The total balance of selected accounts will be listed as your current savings. Click “Add it Here” if you need to connect another account to the software.
  8. Click “Save.”
  9. Click “Save” on the next window as well.

This goal will appear on the timeline as a purple circle above the date you will reach your chosen retirement age. As you scroll to it, you’ll see your current retirement savings and your desired savings side-by-side.

If you aren’t projected to achieve your desired retirement savings by your selected age – based on a 6% average rate of return – a blue “i” symbol will appear.

To see details and make changes to your retirement goals:

  • Click the purple retirement goal on the timeline.

If you see a blue “i” appear over your retirement goal:

  • Click the retirement goal to see what your projected retirement savings will be by your retirement age and how much less that is than your desired savings.