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Questions tagged [retirement]

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.

-1
votes
1answer
1k views

Minimum Nest Egg in Today's Dollars? [closed]

As a follow-on to this question, if you wanted to have a $2.5 million nest egg in 20 years, what would the nest egg value have to be today (assuming no future contributions)? Assume: 20 years ...
0
votes
1answer
32 views

AIG Single Premium Deferred Fixed Annuity

I would very much appreciate if someone could explain the "investment" benefits of a Single Premium Deferred Fixed Annuity. I know NOTHING about this type of investment plan, which my financial ...
5
votes
1answer
248 views

How stable is my retirement plan?

I am in Ontario, Canada as stated in previous posts. I am 23 and have $20 000 in investments after working at my first job for 10 months. My job pays me $42 000/year before taxes ($33 000/year after ...
6
votes
5answers
2k views

Is this a reasonable financial plan? - Spend all of your money every few years? [closed]

Ok, the title is intentionally a bit facetious. But a bit about my current situation. I live in Europe (a high cost of living country) and save around 10,000 Euros per year. I have been doing this ...
3
votes
4answers
193 views

Correctly Accounting for Inflation?

For the purpose of 401k retirement planning, suppose: An individual has 20 working years left. Upon retiring, the individual wants to withdraw $60k per year (in today's dollars) from a nest egg for ...
1
vote
0answers
146 views

Do Scandavian pension systems have a minimum benefit? Are people who reach 70 without ever working entitled to benefits?

In the United States social security system, your benefits depend on your average earnings over some period. So people who never worked aren't entitled to any retirement benefits. How does the pension ...
28
votes
4answers
8k views

How to retire early without penalty?

Logistically speaking, how would one retire early without getting hit with withdrawal penalties? As far as I know, most tax-incentivised retirement accounts slap you with penalties for making ...
5
votes
1answer
323 views

How much money could we get with a reverse mortgage?

My wife (67) and I (72) are retired with an income of $70k/year and a savings of $30k. We have a loan of $300k with a mortgage payment of $1,786/month on a single family home valued at $600k. We spend ...
2
votes
1answer
136 views

How to save for pension in Switzerland when moving around?

I am a 28 year old Swedish citizen living in Switzerland as a PhD student. It is possible that I will move internationally one or more times before settling down. I will stay for at least 3 years, ...
1
vote
0answers
36 views

How are U.S retirement accounts (401k, IRA) withdrawals taxed in Colombia if I become a resident for tax purposes?

I'm currently a U.S resident (not citizen) and I have money invested in a 401k account. I'm planning to move to Colombia at some point in the future. How are 401k withdrawals taxed there? I cannot ...
3
votes
4answers
142 views

Does selling index fund shares for the same amount the account grew by reduce the account's value?

I've been thinking about what retirement looks like, and I'm trying to figure something out. Let's say I have a sum invested ($Y) in an index fund that grew by 60k in 12 months, for a total value of $...
145
votes
24answers
49k views

Why do people save so much?

When I am old and retired (70 years +), I don't plan to spend a lot of money. I'll be living in my own house that is already paid off at that point, so no rent or mortgage payments. Since I don't need ...
6
votes
1answer
169 views

Retirement after reaching 40 credits, non-us citizen

I am a green card holder and I have been working for a US company since January 2011. I am 52 years old and I plan to stop working when I reach 40 credits at the age of 55 in July of 2021. I do ...
2
votes
2answers
203 views

Risks of selecting a pension plan in the USA

I am looking at a possible employment opportunity with a state-affiliated institution in the United States. They offer a couple of options for retirement plans, and one of them is a pension plan. Of ...
1
vote
1answer
143 views

What is the best way to create retirement fund? [closed]

I am almost 40 and live in California. I have a one year old baby girl. I have almost no money to go to retirement from my full time because baby girl uses a lot of money. I started to drive ...
1
vote
1answer
140 views

Roth 401(k) Contribution Limits

Please consider an individual, in the US, who has net earnings from self employment of $8000 who wishes to contribute to a Roth 401(k) plan. For tax purposes these earnings can be reduced by 20% due ...
1
vote
3answers
268 views

Is it safe if I rely “only” on mutual funds for retirement planning?

I am investing in mutual funds to raise retirement fund. My portfolio is 25% debt and 75% equity currently. I have self occupied property. Before few years of retirement, I will start to switch fund ...
1
vote
0answers
30 views

Tax sheltered investment vehicles for retirement in Canada

Is there any investment vehicles to tax shelter income for retirement on top of RRSP & Pension? I know about LIRA. When you switch job you usually get your pension funds transferred into LIRA. ...
4
votes
1answer
230 views

Does it make sense to invest in multiple index funds?

The UK based investor here. I haven't found anything under "Multiple index funds" search criteria thus decided to give it a go, if there is already a similar question/answer would love to get a link. ...
29
votes
3answers
7k views

Would compound interest work better if all my accounts were combined into one?

My wife and I currently have three retirement accounts from different jobs. The only one currently getting paid into is my TSP account. Would we realize better gains if we combined the other two ...
2
votes
1answer
117 views

Should I Contribute to my roth 403b or roth IRA?

I currently have a Roth IRA Account I started a few years back when I was in college. Only have like 1300$ in it now. I started a full-time job now and I have a 403b plan. The thing is, I will not be ...
1
vote
4answers
76 views

Moving my Roth IRA to a different Roth IRA custodian

I currently am funding a 403b but it is Roth Basic from my employer. I also have a Roth IRA from Vanguard that only has 1300$. Does the Roth that I put into the 403b count towards that 5500$? And or, ...
2
votes
2answers
117 views

Social security early benefits

Can husband 61 take early retirement and wife also 61 wait until 70 to take her full retirement if she worked her whole life too.
0
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0answers
46 views

Is there a minimum payment amount for disabled federal employees in order to prevent them from “living on the street”?

FERS disability retirement amounts are based upon your 3 year average high income amounts, but I was disabled by coworkers after being forced on a 6 month NON-Fit For Duty (as a Civil Service Mariner ...
0
votes
2answers
205 views

If my employer has a retirement program that is *not* a 401(k), should I/can I invest in one of my own?

My employer does not use the common 401(k) retirement program - they are a state employer and use a different but similar State retirement program, along with a deferred compensation program that uses ...
3
votes
0answers
151 views

What happens to my U.S. Social Security and pension if I retire in Germany?

If I retire in Germany, can I receive my U.S. Social Security and pension there, and will it be taxed?
2
votes
1answer
137 views

Is it advisable to rollover multiple 401k accounts? [duplicate]

I left my fulltime job mid 2017. I am not earning since then (no pay roll being generated). Since many years I have changed many jobs. Each job had a 401k plan which I maxed out every year. So I have ...
35
votes
8answers
8k views

How much should you save for retirement in a country that automatically takes care of retirement savings?

I live in Denmark. Most people will automatically receive three sorts of retirement incomes. There's the state pension which is universal (you will receive 12.500 dollars pre-tax annually, which can ...
1
vote
1answer
137 views

Restricted in service distribution at age 59-1/2

Is it legal for an employer to restrict 401K in service distribution to employees 59-1/2 years of age or older? Is the employer liable if this restriction was not clearly explained at the time of a ...
4
votes
1answer
266 views

Building passive income streams: Rentals vs. stocks vs.?

I've been fortunate for the past few years to have a very high-paying job. Over that time, I've put myself in the following financial situation: I own my personal home outright I own (also outright) ...
1
vote
0answers
26 views

Retiring on a specific Corpus Invested in Specific Instruments

Let us say mu monthly expenditure is 100 and I have a corpus to last for 15 years, that is 100X12X15=18,000, in effect requiring a return of 6.66% on the corpus for yearly survival (not including ...
6
votes
2answers
110 views

Personal Contribution to Superannuation Plan

I am from Australia and have a question regarding retirement planning. I am trying to make a decision if I should start making after tax contributions to my Super to match my employer contribution. I ...
29
votes
16answers
10k views

Why should a person approaching retirement age make their portfolio less risky?

It seems to be common knowledge that a younger person should invest their retirement funds in growth stocks since they can ride out any market swings. It is also common knowledge that as a person ...
3
votes
1answer
232 views

Take a 401k loan for better investment options? [duplicate]

I recently got into an investment discussion with a coworker about what the best way forward would be if a "trade war" does break out between the US and China. He is older and has a considerable ...
1
vote
2answers
144 views

How to easily compute annual expenses?

When doing retirement planning it is important to know what your annual expenses are. I'd like to compute my expenses for 2017 but in a way that isn't tedious. I'm thinking of doing this: Get ...
5
votes
1answer
270 views

Can I trade the death benefit for more cash value in a whole life insurance policy?

There are several questions on this site that make good arguments that whole / cash value life insurance policies are not good investments (see here, here, and here). For the most part, I'm convinced ...
1
vote
0answers
19 views

Rollover 401k to IRA or another 401k in the future [duplicate]

I have a 401k from my previous employer but currently working at a contract-to-hire position and have no 401k. Would it be a better idea to roll the 401k into an IRA or wait until I have another 401k ...
4
votes
2answers
304 views

Just left my job. Should I roll my 401k to a Roth IRA?

I recently left my job to go back to school. I have a 401k plan with my previous employer with an account balance of $12000, and a vested balance of $8000. The $4000 difference is the employer match ...
8
votes
2answers
383 views

Comparing retirement plans (specifically a 403b and a TSP)

My wife and I both work and have access to a TSP and a 403b retirement plan. We cannot currently afford to contribute the maximum $18,500 per year to both plans, but plan on making contributing enough ...
0
votes
2answers
99 views

Should I switch from my 403b to an IRA

Would it would be wise to stop contributing to my current 403b retirement fund and switch to an IRA? Current Situation: 403b has no employer match . 403b is currently with Fidelity. I am young and a ...
2
votes
3answers
179 views

Should I spread my 401k investments across more than one broker?

After many years contribution, my previous employment's 401K account has more than 500K now. I don't like its plans which have less returns comparing with plans from other broker companies. I am ...
4
votes
1answer
167 views

Current salary in calculating necessary retirement savings

I've seen several guides online that suggest multiplying my current salary by a certain amount to see where my retirement savings should be. I think that these methods assume people ramp up in salary ...
25
votes
3answers
5k views

Can I buy Social Security credits?

I have 39 credits and no longer work in the US. (Gave up resident card after 10 years in the US). Retired in Norway. Is there any way I could buy the last credit point I need?
4
votes
4answers
243 views

What are ways to save money for retirement in the US?

I am looking for ways to save and invest money for retirement. So far I have 401(k) - max. Roth IRA - max. High Yield Savings Account - Emergency Fund Brokerage Account where I buy some ETFs - ...
19
votes
4answers
4k views

Do I need term life insurance at age 57?

I am looking at a term policies for my wife age 56 $250k worth of coverage with an initial cost $957/yr and myself $400k worth of coverage with an initial cost of $1450 /yr. We have about $100k left ...
2
votes
2answers
78 views

Retirement accounts - limits on asset contributions

If someone has appreciated assets like shares or equity of a privately held company and they want to transfer those into a tax-deferred retirement account like an IRA or 401k, is that possible? If ...
6
votes
0answers
44 views

Transferred IRA account - incurred a fee and got reimbursed [duplicate]

I transferred some IRA (both Traditional and Roth) accounts and incurred a total of $300 in fees by my originating firm that was subtracted before those transfers took place. The target firm ...
3
votes
1answer
343 views

Why does a target 2050 retirement fund hold so much cash?

I'm specifically looking at BlackRock's STLFX LifePath Dynamic 2050 Fund. As the target date is so far out (2050), I'd expect almost all of the portfolio to be allocated to stocks. However I noticed ...
2
votes
5answers
630 views

$10,000 minimum fee for a financial advisor?

My wife & I have company pension plans which together have about 1 million in savings (thanks stock market). Since we're close to 60 years of age, retirement is approaching, and while we haven't ...
0
votes
0answers
86 views

What are the pros and cons of having a higher taxable income during retirement?

I am listing the pros and cons of pre-tax 401(k)/IRA (a.k.a. traditional 401(k)/IRA) vs. Roth 401(k)/IRA, in addition to what I read on choose Roth 401(k), or traditional 401(k). One of the ...