Our advisors know a lot about the Florida Retirement System (FRS) and the Deferred Retirement Option Program (DROP) and will be a great resource for you, yet sometimes you simply want information directly from the source or another authority. That’s why we’ve curated a list of online resources to help you learn more about your retirement options, discover what your official retirement process will be like and understand different scenarios for your life in retirement.
Defined Benefit Plan vs. Defined Contribution Plan
Retirement plans, like those available through FRS may be categorized as either defined benefit plans or defined contribution plans.
Retirement Savings Calculator
Setting a goal is a crucial step in meeting your savings objectives. Do you have specific savings goals, or are you merely hoping you’ll have enough when the need arises? This calculator is designed to help you determine how much you need to save each year to meet your savings goals.
Retirement Cost Calculator
Estimating how much income you will need in retirement — and determining whether your current program of savings and investments can provide that income — is a good start to developing a retirement plan. This calculator is designed to help you estimate how much income you may need in retirement and the savings necessary to produce that income.
Retirement Planning Checklist
- Save, save, save!
- Don’t be afraid to ask questions, that’s what our advisors are here for.
- Prepare a budget for your expenses in retirement – in retirement you’ll likely spend less on payroll taxes and your work wardrobe but you might spend more on hobbies and travel.
- Pay off your debt.
- FRS Investment Plan Retirement Checklist
- DROP Participant Retirement Checklist
Ready to Get Started?
Schedule a no-obligation Retirement Review today.