This tag should be used for any questions related to retirement or post-retirement, such as planning or saving for retirement, or asking about benefits or issues after retirement.

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4
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1answer
43 views

Clarification on 2015 IRA Rollover Limits

I've run into an issue in my personal finance journey that many people now struggle with: having a collection of 401k and 403b accounts left over from previous employers, some of which have been ...
0
votes
0answers
96 views

Long term investment for money

I have some money I would like to put into very long term savings. At least 40+ years. What's the best way to save the money? I would like to accrue as much interest as possible and get a headstart ...
2
votes
3answers
206 views

Paying off mortgage or invest in annuity

We are retired, I'm 62 and my husband is 58. We have $150,000 in savings, a 401K at $105,000 and another 401K of $75,000. The home mortgage has a balance of $160,000 with 18 years left on a 20 year ...
5
votes
1answer
64 views

Can assets be transferred from an existing employer 401k to an Individual 401k?

I've been considering opening an Individual 401k account with Vanguard. I chose this, opposed to a SEP IRA, because of the higher contribution limits and the dual contribution options (as employee and ...
12
votes
3answers
6k views

Want to retire at 55, but 401k starts paying at 59.5 years old

Right now, I am on my late 20's, and I have this plan on retiring at 55 years old, instead of the usual retirement age of 62. For this, I plan to save money enough to cover my expenses from the day of ...
2
votes
1answer
102 views

Dad wants to retire…how can I help insure him

My dad turned 63 and has decided he wants to retire. Without going into too much details his new boss has been rough on him. More info here ...
4
votes
3answers
287 views

What is the best use of this cash, investment or payoff bills?

I am 57, will retire in 10 yrs. I have about $7000 from a matured CD. My 'portfolio' consists of a 401b with my job, no matching funds, worth about 25,000. My house will be paid off in 8 yrs. I have ...
5
votes
2answers
235 views

Should I cash out some of my retirement to pay credit card debt?

I'm very recently divorced and have accumulated the following credit card debt, both during my marriage and during my separation, when I struggled to get by while paying both a mortgage and rent on my ...
2
votes
1answer
54 views

Are there any tax-beneficial accounts in the Netherlands, like the UK's ISA or US's Roth or 401K?

I am a 31-year-old non-Dutch British citizen, living and working permanently in the Netherlands, looking for a better way to save my money for the long term (primarily retirement). I am searching for ...
1
vote
1answer
99 views

Should I cash out retirement accounts to pay off student loan debt?

I have an opportunity to cash out my retirement. I have a student loan owing approx $180,000 for medical education. This loan acquires interest daily and I have been unable to get from under this ...
0
votes
1answer
65 views

What suggested supplemental income opportunities exist for a 70 year old Canadian retiree?

This is similar to the question "Extra revenue for retiree receiving a basic public pension", but focusing not on whether, but what. I am wondering what forms of supplemental income (jobs/gigs) would ...
2
votes
1answer
683 views

401k unwanted auto enrollement

I haven't asked for this and my employer 'auto-enrolled' me to 401k. I called Fidelity to take me off but they didn't do it which make me angry. Today I got their Ad email saying Keep in mind ...
5
votes
4answers
751 views

Is it possible to get a 3% yield that is FDIC insured or super low risk?

I just graduated from college and i am already planning my retirement. I know about 401k and i have that figured out already but in terms of money sitting in my bank account post retirement, assuming ...
2
votes
1answer
116 views

Purchasing ETFs when (pretty much) everything else is maxed out

I'm sure we've heard it all before, but I wanna retire early!!!! I've maxed out my 401k at work (pretax) and get close to maxing out a Roth IRA through my bank. I have only student loans as debt ...
5
votes
3answers
129 views

Do individual retirement account balances matter for a married couple?

Do individual retirement balances matter for a live-happily-ever-after married couple? Say both spouses qualify for a workplace retirement plan. Spouse A enjoys a company match for x% and has many ...
2
votes
2answers
81 views

IRA vs Roth IRA for tax free gift

I have received a tax free gift of $4000 from a relative. I would like to put the entire amount into a retirement amount but I am not sure as to whether I should put it in an IRA or a Roth IRA. If I ...
2
votes
1answer
46 views

Calculating the present day value of a future amount?

I'd like to know what my retirement's purchasing power is. I think the best way to do that is to adjust for inflation in reverse, maybe? I know to calculate your future salary with inflation you can ...
9
votes
2answers
429 views

Roth IRA: Vanguard vs Free Advisor's Mutual Fund

Background: I recently turned 25 and became applicable to invest into my employer's 401K. Due to no matching, I have 3% allocated in as a supplemental retirement fund. Currently single, rent (no ...
2
votes
0answers
116 views

How should we organize our finances to effectively plan and prepare for an retirement in next 10 years?

How should we organize our finances to effectively plan and prepare for an retirement in next 10 years ?. My personal details are: Age 35, married with a 3 year old daughter IT consultant with a ...
7
votes
1answer
352 views

Wife wants to buy me out of our house - how to do this?

My wife and I want to separate, and have agreed in principle that she will pay me half the value of the house we share and I’ll move out. As she has just inherited a large amount following her ...
13
votes
1answer
1k views

Is the Social Security retirement benefit calculation based on the last 40 quarters, or overall?

Are Social Security payouts based on the last 40 quarters, or overall earnings? That is: If the last 40 quarters of my working career are lower than these past 40 quarters worth, how does this affect ...
4
votes
3answers
170 views

What are the down sides of maxing out the 401k?

Please advise me whether I understand this correctly: The benefits of maxing out the 401k: Your contributions are tax-deductible, so it lowers your income during tax filling As your money grows ...
17
votes
5answers
3k views

Oversimplify it for me: the correct order of investing

I have been reading the top posts here, and the recommendations for what to invest in are often similar. What I'd like to know, in as simply of terms as possible, is what the consensus is on priority ...
4
votes
2answers
101 views

Capital gains tax: Retirement vehicle (IRA, 401k) vs. anything else?

I've had this question for a little while and I asked a professional about it today, but I don't think I worded it well. As such, I didn't get a good answer. Theoretically, given an equivalent amount ...
6
votes
1answer
77 views

Can you change auto-enrollment pension provider? And what happens if you change jobs?

I'm trying to figure out if someone who has been auto-enrolled in a company pension scheme can change their pension provider. I opted out of the pension provided by my company because I couldn't ...
3
votes
1answer
106 views

Is 401k considered a retirement plan offered by an employer?

I am trying to brush up on traditional IRA offerings out there. Specifically, I want to know whether the IRA contribution is tax deductible. The rules state that I can deduct the full contribution ...
2
votes
2answers
50 views

Are there tax-advantaged plans/accounts in Europe without age restriction?

All the European countries I'm familiar with have tax-advantaged pension schemes to guarantee income for retirees, but there's a severe age limitation (like with 401(k)), which is incompatible with my ...
4
votes
2answers
84 views

With all the different asset allocations out there, why is rebalancing important?

I understand the notion that I need to determine an asset allocation based on my risk preference and then rebalance annually or biannually to keep my asset allocation in line. However, consider that ...
0
votes
0answers
67 views

Does saving for retirement pre-tax make sense to stay in a lower tax bracket if I'll earn more later?

Does it make sense to save in a Regular IRA vs the Roth IRA in order to keep me in the 25% tax bracket? In reality career wise I will probably cap out at 150k in today's dollars. I've been able to get ...
4
votes
5answers
597 views

Retirement - Annuity or not?

I have a pension worth around £150k and am due to retire soon. With the new pension rules in the UK, what would be some good options to maximise my income post-retirement? Annuity - I will be ...
2
votes
2answers
74 views

Can I deduct retirement plan contributions from my self-employment income?

I'm self-employed. I pay self-employment tax on ( income - business deductions ) * 92.35%. Can I make contributions to a retirement account that counts as a business deduction? More details: I'm ...
3
votes
1answer
43 views

Indian mutual funds with tax benefits

Are there any mutual funds offered by Indian banks that give any tax advantages? This is for my mother (retired Indian citizen). Something that gives a better rate of return than the fixed deposits ...
-1
votes
1answer
58 views

Contribute Federal and State withholdings to company 401k instead?

So I am attempting to devise a way to max my company retirement account. They offer 3% of my annual pay if I put in at least 6% of my annual pay. The problem is that I don't want to take a giant ...
3
votes
2answers
207 views

The 25 times annual expenses rule and leaving no estate

I’m referring to the Trinity study and subsequent interpretation that a person’s wealth needs at least 25 times his current annual expenses in order to retire without shrinking the portfolio. What ...
3
votes
2answers
692 views

Opinions on Retirement Planning

Assume a 40 year old couple have a combined income of 200K, have saved 100,000 for retirement to date, each have a match of 75% of the first 6%, and can both save 18K per year into their 401Ks. ...
2
votes
2answers
133 views

What is the most common and profitable investment for a good retirement in Australia?

I've seen a whole lot of questions in this website about good retirement investments in a range of countries, but none asking about Australia. Let me explain a little further my doubts: I'm currently ...
0
votes
1answer
43 views

Payment default penalties on annuities

Scenario You have an investment/retirement annuity through a broker with a life insurance company in which you have payed 10% of your salary for the past 4 years. The company you are working for is ...
1
vote
2answers
102 views

Should I cash out my annuity and pay the surrender fee?

I'm 36 and when I left my last job I rolled $100K from my 401K into an Indexed annuity. It has a 4.75% max annual return. If I withdraw it all today, I have to pay an 18.5% surrender fee. This fee ...
0
votes
1answer
223 views

Can I max out both an SEP and Roth IRA in the same year?

I am an independent contractor and get the majority of my income as 1099. I have both an SEP and Roth IRA that I have contributed to in the past, but I would really like to ramp up my retirement ...
1
vote
1answer
94 views

Buyout information

My mother moved out of a home she owns 1/3 of. She would like to get a buyout. The house was recently appraised at $866,000. My mom paid $300,000. A friend paid $300,000, and my brother paid $216,000. ...
1
vote
1answer
96 views

Tax on irregular freelance work

February 2015. I currently have a pension of over £21K per annum but recently was asked to do freelance copy editing work for a publisher. Some three months later they have paid in full £3,267. ...
3
votes
1answer
125 views

Debt Relief Agency or cash out IRA?

Through many bad decisions on my part, a divorce, 2 kids in college and a third heading there in the fall, I am in over my head. I have been robbing Peter to pay Paul for a few months now (paying ...
2
votes
1answer
97 views

Pros/cons of drawing income in retirement from sole-owner corporation vs. sole-proprietorship?

What happens from a tax perspective at retirement time for the sole-owner/employee of a Corporation versus Sole-Proprietorship? In the case of a Corporation, I assume that the owner pulls money from ...
0
votes
0answers
21 views

Tax deductible retirement contribution [duplicate]

My spouse is a teacher in NJ. He is 61 years old. We file federal income taxes as married filing jointly. His w-2 shows, in box 14 (other) a pension plan with code 414(h). It shows an amount of just ...
2
votes
1answer
323 views

I have a 414(h) pension plan as a teacher in New Jersey. Am I permitted to also contribute yearly to an individual Ira?

My husband is a teacher in New Jersey; 61 years of age. He has a pension plan listed on w-2 in box 14 (other). It is coded as 414(h). He asked the tax advise person at the school if he could still ...
1
vote
2answers
47 views

Withdrawal of MPF after 60-years old

I am a Malaysian, I worked in Hong Kong Interbank Clearing Ltd (HKICL) from Nov 2001 till Dec 2004. I resigned from HKICL and left Hong Kong in Dec 2004. My question: I am 60 year old now (my birth ...
2
votes
1answer
46 views

Does NIC Class 4 contributions counts to your retirement pension?

When I pay more of 9% Class 4 NI, does it mean I will get more pension to my retirement pension as it accumulates? Or it doesn't make any difference to my future pension?
0
votes
0answers
169 views

Teacher moving to another state: transfer retirement savings from previous TRS?

I am a teacher who moved from GA to CA. I have money in the Teachers Retirement System (TRS) there and I am wondering if I should move it to a CA-based fund. What are the pros and cons?
4
votes
1answer
693 views

If I earn 40 credits and stop working, would I get full Social Security benefits at age 67?

If I met my 40 credit requirement in my 30s, and then left the States permanently and work at another country, and pay taxes there, not to the US, would I receive the full benefits when I become ...
1
vote
1answer
112 views

Are SPDR funds good for beginners?

Are SPDR accounts good for beginner investors who are only interested in long term investments/retirement? They really seem like "Set it and Forget it" kind of funds, how wrong am I on that ...