May 22, 2012
New Financial Tools Backed by Research
The Center for Retirement Research at Boston College has created a prototype personal finance website with tools and information on topics ranging from how to reduce spending or refinance a mortgage to the best way to draw down savings during retirement.
The website offers a comprehensive set of tools backed by impartial academic research – not sales pitches. Individuals can use each calculator, “Learn More” lesson, or “How To” guide individually or as the building blocks for an overall financial plan, which they can construct in a step-by-step process that begins on the homepage.
The website, also called Squared Away, was created by the Financial Security Project (FSP), a financial education initiative of the Center. It was funded (also like this blog) by the Social Security Administration.
The Center plans to distribute the site through various organizations, such as credit counselors, financial planners, employers, credit unions, and non-profits involved in helping low-income people build up their savings.
The website is still in the “beta” phase and will be improved over the coming months. We invite readers to try out the tools and comment on them by clicking “Learn More” below. All comments – good and bad – are welcome.