Your savings action plan: Take control of your retirement

A family who wants to take control of their savings and build a secure financial future.

Are your retirement savings on track? Are you making progress toward your goals? This process can help you build an action plan for the future you want.

4 steps for retirement planning 

1. Gather financial statements

  • Social Security statement
  • Savings account statements
  • Retirement account and pension plan statements
  • Statements from other accounts you plan to use for retirement funding
  • Amount you contribute to your employer’s retirement plan each pay period (percentage of pay or dollar amount)

As you're gathering information, consider what age you'd like to retire.

2. Enter your information into our Retirement Wellness Planner

This simple online calculator crunches the numbers for you. You'll see approximately how much income you’ll need each month during retirement, any estimated surplus or gap, and your Retirement Wellness Score.

3. Talk with your financial professional

If you do have an income gap, find an advisor—or contact your current one—to explore ways to make small changes that help add up to a big impact on your score.

4. Check your progress

Come back to re-enter your information at least annually or as significant events occur, and consult Principal® for more savings information, tools, and resources to help keep your savings strategy on target.

Have an account with Principal®?

Access it online to see investments, coverage, and more.

The Retirement Wellness Planner information and Retirement Wellness Score are limited only to the inputs and other financial assumptions and is not intended to be a financial plan or investment advice from any company of the Principal Financial Group® or plan sponsor. This calculator only provides education which may be helpful in making personal financial decisions. Responsibility for those decisions is assumed by the participant, not the plan sponsor and not by any member of Principal®.  Individual results will vary.  Participants should regularly review their savings progress and post-retirement needs.

This document is not a recommendation and is not intended to be taken as a recommendation that you purchase this product. 

Insurance products and plan administrative services provided through Principal Life Insurance Co., a member of the Principal Financial Group®, Des Moines, IA 50392.