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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
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1answer
257 views

How can a stay-at-home parent save for retirement?

With my wife transitioning to a stay-at-home mom role, how can we save so she can retire? She won’t be able to contribute to her 401k and I don’t think we qualify for a Roth IRA based on my income. ...
3
votes
4answers
493 views

Those retiring early - what other steps can I take to ensure retirement at 50?

I want to retire early (am 40 - want to retire by 50). For those who have done it in and around that time (without inheriting a ton of money from someone) what steps or things can I do to help make ...
1
vote
0answers
46 views

How much money do I lose when I move from defined benefit pension plan to a hybrid pension plan

I am moving from a company with a defined benefit pension plan to one with a hybrid pension plan(DB + DC). I understand that the defined benefit pension plan uses a set formula to calculate the ...
52
votes
8answers
19k views

Aging parents with no investments

My aging parents (75/77years) own a house on 35+ acres (14+ hectares) in rural NE USA (no mortgage). They have: No investments (other than the obvious property) Savings of maybe $30k in a bank ...
1
vote
2answers
108 views

Formula for retirement withdrawal amount same as principal decreases

I created a retirement calculator The idea is if you save enough you can so when you withdraw say 4% you don't eat too much into your savings. But based on my calculation 4% of 500000 is $20k but ...
24
votes
7answers
7k views

Should I stop contributing to retirement accounts, and instead focus on expanding our real estate investments?

My wife and I are in our later 30s and make about $100,000 per year from salary. We also net about $40,000 from rental properties that we have purchased over the past several years. Our essential ...
2
votes
0answers
77 views

Retirement Conversion to whole life insurance or not

Both my husband and I had term life insurance policies that were convertible at age 60 to whole life. I am 67 and converted mine years ago. My younger husband is reaching the deadline date for ...
4
votes
3answers
195 views

How to balance saving for retirement with saving for a house?

Situation: Married w/ kids, 29, about to finish grad school, no debt. Accepted a job offer with $87k salary and an employer contribution to an SEP-IRA equal to $13k/year. No additional household ...
2
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0answers
27 views

Residential requirement for Canadian living abroad to collect pensions?

I have been told by numerous individuals that one is required to return to Canada for a certain period of time, whilst living abroad, in order to continue to collect my Senior benefits from the ...
1
vote
1answer
33 views

Adding nondeductible 1099-R reduces refund

I'm using TurboTax to do my taxes for FY2018. I make nondeductible (after-tax) contributions to my Traditional IRA, and once the funds settle (but before investing the funds), I convert the entire ...
0
votes
1answer
171 views

401(k) losing money, considering withdrawal to pay off mortgage

I left my job 13 years ago with $80,000 in a 401(k) plan and $500 a month pension. Two years ago the company told me that I had to get money for pension. I had already lost $45,000 of my 401(k) due ...
2
votes
4answers
432 views

Buy 2nd house vs investing?

I've an interesting dilemma that will occur in a few years. My wife and I are currently overpaying our mortgage and will be mortgage free by the age of 35. We are also already putting away some money ...
3
votes
3answers
1k views

Vanguard Target Year retirement funds track record

Some personal finance "gurus" recommend funds with a track record of at least 10 years. Both my current and previous employer default to Vanguard target year retirement funds. These funds from 2015 ...
2
votes
1answer
166 views

401k Statistics

This article claims: In fact, the average 401(k) balance at Fidelity — which holds 16.2 million 401(k) accounts and is consistently ranked as the largest defined contribution record-keeper — ...
1
vote
2answers
95 views

What is the reference salary for retirement savings by age, defined as a multiplier of salary?

Many retirement articles list how much you should have saved by age, in multiples of your salary. However, they don't explicitly state whether they are trying to base the multiple off your original ...
4
votes
1answer
105 views

Social Security disability 10 year rule

I am 62 years old and have worked all my life. In 2007 I started teaching high school to give back to my community. Now I discover that since I have worked for a school district and made no Social ...
5
votes
4answers
927 views

What are the advantages of a tax deferred investment account?

So, I suspect I am missing something huge about this. But I notice there is a lot of talk about retirement accounts recently such as 401-Ks and IRAs. I understand these come in two flavors, ...
2
votes
2answers
98 views

Vanguard Total Stock Market vs Vanguard STAR for retirment

I'm about 17 and my vanguard roth ira is now ready for an investment. I was wondering which of the above two funds would be suited as a retirement fund, or if there is any significant difference at ...
0
votes
1answer
113 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
283 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 ...
7
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
207 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
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0answers
150 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
9k 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
333 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 ...
4
votes
2answers
217 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
52 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
157 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 $...
150
votes
24answers
52k 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
197 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
3answers
325 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
150 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
143 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
308 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
35 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
252 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. ...
31
votes
3answers
9k 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
122 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
81 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
129 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
votes
2answers
208 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
157 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
182 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
139 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
302 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
27 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
124 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
235 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 ...