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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7
votes
1answer
56 views

How is money in a Roth IRA classified as either “earnings” or “contribution” (basis)?

I have heard that if you withdraw money from your Roth early, there is no penalty or tax as long as it is a "contribution". However "earnings" cannot be withdrawn early without paying tax and 10% ...
0
votes
2answers
149 views

Should I switch/rollover my IRA to a Gold IRA at Regal Assets?

I was recommended from a friend that I should consider switching my current IRA to a Gold IRA. She sent me a link and told me to consider switching over to Regal Assets. I haven't searched around a ...
2
votes
2answers
333 views

Employer 401K thru Fidelity - Investment options

I originally picked FA FREEDOM 2040 I (FIFFX) for investment. After talking with a co-worker I learned this is a poor choice and only has 3 stars. The 10 YR performance 6.37%. Anyway, I have altered ...
2
votes
3answers
114 views

Is Cash Value Life Insurance from NY Life a good idea for my future?

I sat down with NY life today and listened to their proposal regarding Cash Value Life Insurance (CVLI) and long term investing. I am a 36 year old guy recently married with no children yet. Since I ...
2
votes
2answers
205 views

How does this retirement fund calculator work?

I found a retirement fund calculator on web: Inflation rate: 2% 0% 2% 0% Expected return rate: 5% 0% 0% ...
7
votes
2answers
213 views

Why is there an income restriction on contributing to a Roth IRA?

Currently, single adults making more than $112,000 ($178,00 for couples) per year cannot use Roth IRAs I was just wondering what the reasoning behind the income restriction was for the Roth IRA ...
0
votes
1answer
74 views

What is the best way to borrow money to consolidate our multiple outstanding mortgages?

My wife and I are in our early 60's. What We Have We have a condo that is upside down. It appraised at $110,000 and we owe $105,000. The going market rate is $85,000. We pay 5% for this loan. Our ...
1
vote
2answers
849 views

How to calculate Social Security benefits if retiring before the early Social Security age?

How can I calculate my Social Security if I retire before my early Social Security age? I tried to use the official website's calculator, but it required entering too much data, and the website ...
1
vote
2answers
140 views

First time investing advice (Canada)

I am 29 years old with a wife and we are planning on having a child in the next 2-3 years and as such I have been making a lot of life changes and planning for the future. Fist off I am sorry this ...
6
votes
1answer
96 views

Social security “bonus” for married retirees?

I passed this info on to my father who is much closer to the age where he may be able to take advantage of it, but I wondered if anyone could comment on the viability of the approach described in this ...
1
vote
1answer
78 views

Should regular withdrawals come from equities account or fixed return account?

I have two accounts for investments--the cash from one is invested in stocks and the other in a fixed-return product. I need to begin taking a regular monthly withdrawal on these accounts. Does it ...
7
votes
1answer
250 views

Tax-advantaged retirement savings options for someone with no 401(k) and high income

I have read that Traditional IRA and Roth IRA benefits appear to phase out beyond certain income limits. Assuming the following: I don't have access to any 401k plans through my employer My income ...
7
votes
1answer
148 views

Retirement accounts for non-working spouse

What options are available for a non-working spouse as far as retirement accounts/contributions go? I'd imagine that there are no pre-tax options, since the non-working spouse has no direct income. ...
1
vote
1answer
116 views

With max contributions possible, what are the advantages of an IRA over a solo 401k?

The only cited disadvantage I have seen for solo 401k's are fees to administer them. My broker has no fees, so we can cross that off the list. Given my position to max out a solo 401k and contribute ...
3
votes
2answers
3k views

401k early withdrawal impact on unemployment benefits

I'm helping my SO plan for the worst since being laid off from work two weeks ago. The unemployment office's (Illinois) documentation has lots of convoluted language that among other things seems to ...
6
votes
4answers
556 views

Am I really house poor?

This is my financial situation and I hope that someone can guide me. I have been in the market for a house to buy. There is a house that I like and I wanted to know if I could afford it. I have ...
6
votes
4answers
804 views

How should one account for inflation when planning retirement savings and withdrawals?

Let's say one had a goal of saving $x, in order to live off of (say) 4-5% interest on the principal. How do you then account for inflation? Do you assume some rate and increase how much you would ...
2
votes
1answer
128 views

Calculate the after tax cost of 403(b) contributions?

How can I calculate the value of the pre-tax benefit of contributing to my 403(b) plan through my employer? I am considering leaving this employer and want a value for how much this is worth in case ...
7
votes
2answers
210 views

When purchasing an IRA, should I contribute to a previously-opened one, or open a new one?

In general - all things being equal with regards to fund availabilities, fees, etc - is it better to add funds to an existing IRA each year, or open new ones? Are there different tax benefits to ...
13
votes
3answers
770 views

Why would you not want to rollover a previous employer's 401(k) when changing jobs?

Are there any valid reasons to not rollover a former 401(k) when changing jobs? I have several little ones that I never quite got around to rolling together - with an upcoming job change, should they ...
3
votes
2answers
122 views

How many IRAs can I open/add-to/purchase in a given year for my family?

I want to plan for my children's futures - and while I believe I understand from articles at Fool.com, Smartmoney, and Forbes, is that I cannot purchase an IRA, as such, for them: it needs to be done ...
6
votes
3answers
3k views

Retirement Funds: Betterment vs Vanguard Life strategy vs Target Retirement

I'm a 20 something grad student and would like to open a hands off retirement account with beta exposure to the market and would make monthly contributions. I'm fairly illiterate when it comes to ...
3
votes
5answers
729 views

How much should I save each month so I can retire early, in my Third World country?

I live in a 3rd-world country. I earn $500/month. How much percentage of my income should I save each month, if I plan for early retirement? Currently I am saving 30% of my income. Is there any ...
2
votes
1answer
247 views

What is the best resource for determining a specific age-based asset allocation?

I found a lot of information about how to allocate between stocks and bonds based on age, but I cannot find much about the proper allocation between domestic/international assets, large cap/small cap, ...
0
votes
1answer
150 views

Will someone be disadvantaged working longterm as a Contractor vs Permanent Employee

What is the difference in the long run (when you compare at retirement) between a Contractor and a Permanent employee, assuming someone choses to work in one for their whole life? Will the pension be ...
3
votes
1answer
142 views

Expected total principal + gains from a vanguard life cycle account upon retirement after 33 years?

If one maxes out his Roth IRA starting from age 26, investing only into a vanguard target 2045 (lifecycle) fund, what amount can he expect to withdraw at retirement at age 59? I did a quick check ...
6
votes
2answers
173 views

When is a SEP IRA appropriate, can a Roth IRA suffice for self-employed individuals?

I am a self-employed individual working in the software industry; my current salary is commensurate to the market value of a software developer with 5 years of experience. I have not yet opened up a ...
3
votes
1answer
80 views

Roth or Traditional IRA if getting a dramatic increase in income this year?

So I just learned that it's not too late to fund an IRA for 2012. With a week left and never having done this before, I now get to decide which type I want to open. Based on my (really vague) ...
2
votes
1answer
421 views

Is Tradeking collecting too much information when I open an Roth IRA?

I recently signed up with Tradeking a Roth IRA account. During registration, I entered my home address DOB and SSN. I was ok with it. But then Tradeking started sending me emails (1) the first one ...
6
votes
1answer
539 views

Moving money from my savings account to an IRA - why am I paying taxes on it?

I'm planning to move money from my savings account to a new IRA account, but I don't understand why I'll be charged penalties for withdrawing the money. Why do I have to pay extra taxes to take my ...
4
votes
2answers
170 views

How do I estimate the future level of my Roth IRA?

Short version: If I know a) how much is in my Roth IRA currently, b) that I plan to maximize my annual contributions, c) the average growth rate is 8%, and d) I'm 22 and plan to invest in my IRA until ...
8
votes
2answers
2k views

Can I open a Roth IRA with more than one company at a time?

This may be a really silly question, but I was looking at my TD Ameritrade account online, and it says front and center that my maximum 2013 contribution is $5500. I'm assuming the limit is imposed ...
3
votes
1answer
690 views

Who decides, and how, each year's increase in the Canada Pension Plan's YMPE value?

I know the Canada Pension Plan's Yearly Maximum Pensionable Earnings value (YMPE) is used for the following: to determine the annual limit for payroll contributions to the Canada Pension Plan for ...
8
votes
2answers
451 views

How to avoid tax when taking a windfall in small chunks?

My software company has no employees but me, and makes a million dollars a year. I expect it will do so for about 3 more years and then close its doors. I'm 30 years old. My family lives below our ...
3
votes
0answers
59 views

When to apply for RRQ (Régie des rentes du Québec) benefits: earlier, age 65, or later?

My 60 yr old spouse just retired on RREGOP. Should she wait until she's 65 to take RRQ (Régie des rentes du Québec), or even 70, or should she take it now, early, at 60? I am semi retired myself. I ...
5
votes
5answers
280 views

Is there any reason at all to have a traditional IRA if you already have a 401k and earn more than a certain amount?

I was not aware that if you have a work-sponsored retirement plan, then traditional IRA contributions are pre-tax only if your salary is low enough (according to this). Given that, is there any ...
4
votes
4answers
215 views

Multiple accounts stagnant after quitting job.

So I made the move to quit my job of over 10 years a few months back and have never been happier. My one problem is that I now have some accounts that I feel that I could be doing more with. I had ...
1
vote
2answers
1k views

Retirement formula for annual compound interest with changing principal

I'm trying to calculate how much money I'd have to put away each month for the next 20 years, to be able to withdraw 50,000 a year for 20 years after that (a retirement calculation). The issue that's ...
2
votes
2answers
37 views

What determines a tax resident in Florida

As a retired non-US person. I am planning to purchase a vacation home in Florida. I am told i am only allowed to reside there for a maximum of 60 days each calendar year, any longer and I will be ...
9
votes
4answers
378 views

How do you go about calculating how much you need after retirement?

I am posting this question after reading this article on WSJ, where it says: Just 42% of working-age Americans have even tried to calculate what they will need in retirement, according to the ...
12
votes
9answers
586 views

Why is retirement planning so commonly recommended?

I'm just graduating college, and I'm starting to educate myself on economics, finance, and investing, and everything I see is sort of screaming at me "PLAN YOUR RETIREMENT!!" Now, I know this sounds ...
1
vote
1answer
486 views

Penalties for cashing out on a SIMPLE IRA early

I want to know what are the penalties that an individual will face if they withdraw on a SIMPLE IRA outside of a hardship distribution? (Additionally) I noticed in another post someone mentioned a ...
2
votes
2answers
199 views

Should I open an individual 401k account?

I am looking for some advice on what to do with the Money from a previous employer 401k. I currently have the checks that were issued to the trust of my new employer's 401k service. I have not sent ...
2
votes
1answer
73 views

How do I obtain the foreign equivalent of homeowner's insurance when buying a vacation home in another country?

I am considering purchasing a property in another country as a vacation home. I'll continue to live in the US (nation of citizenship), but may consider using the foreign home as a retirement locale, ...
4
votes
1answer
2k views

What does it mean if my firm's retirement pension (not 401K) plan is incrementally vested?

I'm beginning work at a firm with an incrementally vested retirement pension (not 401K) plan that is incrementally vested for 20% for each of the first five years. After five years, I'm 100% vested. ...
5
votes
2answers
412 views

What are my options if I am not eligible for my 401-K plan?

I was contributing the maximum amount to my former employer that closed down in June 15, 2012. I started a new job on Sep 10, 2012 but I will not be eligible to participate in my new employer's 401-K ...
2
votes
1answer
79 views

History of full retirement age: when were there policy changes?

The full retirement age is the age at which at which a person may first become entitled to full or unreduced retirement benefits. On the webpage of the Social Security Administration ...
7
votes
5answers
230 views

Advice on low-risk long-term strategy for extra cash?

Basics no debt; no dependents; early thirties 401K is maxed (5% company match) ESPP is maxed out 10% Roth IRA is maxed out salary is about 115K 100K cash in a checking account Question I am ...
2
votes
3answers
368 views

Rules of thumb for present value of retirement funds given current age and income?

I know the general rule of thumb is you should save 15% of income to retirement, but I'm playing catch-up after years of neglect and contributing 25% until I catch up again. But how will I know when ...
6
votes
2answers
386 views

I have access to a 401K at work but the fees are high. Should I contribute, or do otherwise?

I have a retirement plan 401K from work. The employer does NOT contribute anything. I just enrolled into account and got to know that there are fees associated with the account. The fees is ...