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Questions tagged [retirement-plan]

This tag should be used for any questions related to schemes for retirement or post-retirement planning or saving. A country specific tag should also be used if the question pertains to specific geography. There are some tags specific for certain retirement plans like 401k, roth-401k, rrsp that can also be used.

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51
votes
2answers
8k views

When is employer 401(k) match not worth it?

I have always read to take full advantage of your employer 401(k) match. But what if the match is lower than most? My employer will match 10% of my contributions, up to the legal contribution limit. ...
3
votes
1answer
126 views

What are the limitations on rollovers to an IRA?

My friend wants to consolidate his various retirement account accumulated over the past 20-30 years to make it easier to manage/track his retirement savings. He doesn't recall immediately all the ...
11
votes
3answers
2k views

Should I exclude bonds from our retirement investment portfolio if our time horizon is still long enough?

My wife and I (ages 35 and 38) have 25-30 years until we reach retirement age, and I'm doing some research regarding our asset allocation. In addition to various podcasts, articles, and online posts, ...
7
votes
1answer
370 views

Ought a 63-year old working hotel employee commence an RRSP?

If I understood Global News, MoneySense, the Wealthy Barber, and Reddit, my dad ought NOT start or contribute to an RRSP! Right? Thanks. Facts He's 63 years old, and has no children under 18. He ...
15
votes
4answers
2k views

How much money do I need to have saved up for retirement?

I'm 29, and just started a new job with an excellent mandatory retirement plan. I contribute 5.5 percent of my salary and my employer deposits an amount equal to 8.5 percent of my salary. I have a ...
9
votes
2answers
24k views

Tax implications for a 100% 401k contribution limit

My company permits a contribution of a 100% of the paycheck towards the 401k. My question is, if I were to pick a 100% contribution amount, would I be liable for any taxes in the number of paychecks ...
1
vote
1answer
859 views

Minimum Required Nest Egg Formula?

As a follow-up to this question, what is the minimum size of a nest egg to support 30 years of $5,583.33 monthly distributions? I want the $5,583.33 to increase with inflation each month. The ...
9
votes
1answer
3k views

Options for a Simple IRA when leaving a job: Leave as is or roll it over?

I currently have a Roth IRA that I max out every year. My current company had Simple IRA and contributed 2% of my salary and I contributed 6000 a year. Now I am leaving the company and was hired by ...
4
votes
1answer
190 views

403(b) and ROTH IRA contribution and rollover

My current employee offers a 403(b) with a Roth option. I also have a Roth IRA. The Roth IRA has a lower annual contribution limit than the 403(b). I have some questions regarding contributions. ...
3
votes
1answer
1k views

On company 401k matching. Clarification needed

I realized I don't fully understand something. It almost embarrassing to admit. In 2016 we have 18k max contribution limit for 401k. Does this mean that employee can contribute at most 18k or that ...
3
votes
1answer
1k views

Can I contribute to both a solo 401k and a regular 401k in the same year?

I was self employed during the first quarter of 2011, then switched to full time employment. I have a solo 401k that I haven't contributed to in tax year 2011. I have been contributing to my ...
2
votes
3answers
248 views

Effective Tax Rate in Retirement

Suppose that I'd like to net $5k of monthly income ($60k per year after taxes) from my 401k when I retire in 20 years. For 2017, I would need $69.5k gross distributions from my 401k because my ...
32
votes
5answers
7k views

What is the median retirement savings in the United States today?

http://www.cnbc.com/2016/09/12/heres-how-much-the-average-american-family-has-saved-for-retirement.html The median for all families in the U.S. is just $5,000, and the median for families with ...
52
votes
8answers
20k 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 ...
7
votes
2answers
1k views

Is my "retire young" strategy a sensible one?

My goal is to have enough to retire at 40. I have 11 years to go (I'm 29) as of the past 15th. To be clear, I don't plan on retiring, maybe ever, but I want to have enough to just quit one day if I ...
19
votes
6answers
6k views

If I make over 120k a year, what are my options for retirement plans?

I will be starting a job on Monday that yearly will net me in excess of 120k. I know that this income exceeds the maximum earnings for a Roth IRA and I'm sure other things. I'm a complete newbie when ...
9
votes
3answers
556 views

How to find a good third-party, 401k management/advice service?

I have a 401k with my employer that offers a pretty good contribution matching benefit. I am young and I've had the plan for about 5 years and my money is starting to grow into a pool that is big ...
15
votes
11answers
7k views

I am failing to see the purpose of a Traditional IRA for someone who already has access to a 401(k)

If I understand correctly, the Traditional IRA, if you have 401k with an employer already, has the following features per IRS: Your contributions are taxed Your contributions are NOT taxed upon ...
10
votes
5answers
2k views

Scared of money being "locked away" in retirement accounts

I have a reasonably comfortable emergency fund, some other savings, and some accounts I manage myself invested in stocks and funds. However I have only a minimal sum in pensions and retirement ...
6
votes
1answer
375 views

How to determine a reasonable rate of inflation assumption for long-term care?

Would it be reasonable to project that the cost of long-term care and long-term care insurance in the US will go up as fast as health-care inflation, or at some rate closer to the general rate of ...
14
votes
8answers
28k views

Practicality of 30 year fixed mortgage at 55 years of age

I understand that lenders cannot discriminate based on age, but is there really data to support that lenders do not do that? But suppose if one gets the mortgage when he/she is 55 years or older and ...
9
votes
3answers
806 views

I have a horrible 401k plan, with high expenses. Should I stay with it or move my money elsewhere?

I'm in need of help choosing options for my 401k. Unfortunately, they are not very good. Nearly all of the expense costs are over 2%! But I have brought it up with my HR to see if there is any way to ...
6
votes
3answers
972 views

Can't withdraw from 401k because plan trustee can't be found

My previous employer (startup in Silicon Valley) was acquired by a foreign company about 2 years ago, and the parent company laid off pretty much everyone about 1 year ago, which I was a part of. I ...
5
votes
3answers
774 views

Is Cash Value Life Insurance ("whole life" insurance) a good idea for my future?

I sat down with an insurance representitive 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 ...
4
votes
3answers
2k views

Can I open a Solo 401(k) if I am an independent contractor but also work part-time as an employee?

I am contributing to the 401(k) at my part time job, but want to know if I can also open a Solo 401(k) to delay taxes on income from my work as an independent contractor.
7
votes
1answer
1k views

Can I contribute money to a 401k, 457b, and an IRA all at the same time?

I am a retiree who is returning to full time work. Can I contribute the maximum to my full time job's 401(k) and to my part time job's 457(b)? And then also contribute the maximum to an IRA?
5
votes
2answers
349 views

Sell home and buy a smaller one for cash?

Wondering what the unknown gotchas that would be involved in my selling my home and with the profits, buy a smaller one for cash to avoid mortgage payments. Some info: I live in California, U.S.A.; I ...
3
votes
1answer
585 views

Why are Vanguard's 2050 and beyond target retirement date funds badly underperforming the S&P?

At work, we're in the process from switching from an IRA to a 401(k) and I've been looking at the different fund options. What struck me as very strange was how poorly the Vanguard Target Retirement ...
3
votes
2answers
3k views

Are there any circumstances in which unvested employer 401(k) contributions revert to the employee?

Many companies (including a former employer of mine) have 401(k) vesting schedules. The idea is that the employee keeps all of his/her contributions, and the employer piece has a percentage that you ...
3
votes
3answers
250 views

Help required on estimating SSA benefit amounts

Is there a calculator that will estimate my SSA benefit amounts given: a list of all FICA contributions I (and my spouse) have made till date (and plan to make) the age at which I intend to start ...
2
votes
2answers
752 views

IRS Form 5500-EZ (5500EZ). How to file late

I had an S-Corp that I closed down in 2013. I didn't realize I needed to file a form 5500-EZ because although the assets in the Self Managed Individual 401K were less than $250,000, you need to file ...
2
votes
1answer
64 views

How should get my PPF fixed

I opened (first) PPF account in Union Bank of India at City X-branch (I live in city-Y which is away from city-X by almost 3 hour travel by railways) where my dad used to work. Now he is retired so am ...
1
vote
4answers
186 views

Round up of advantaged retirement investment approaches in the US?

My friend in the US (I don't live there permanently) has a Youth who has started work as a teen while at school/college ("at Starbucks" type of thing) and we were discussing the various ways ...
1
vote
1answer
235 views

What is a Mega Backdoor Roth IRA?

The so-called "Mega Backdoor Roth IRA" was coined in the following article in 2014: I don’t hear about new ideas very often, but here is one that a few people might find very useful. I call it the “...
0
votes
1answer
111 views

Is it worth it to own precious metal ETFs inside a retirement account? [duplicate]

Is it worth it to buy precious metal (e.g. gold and silver) ETFs inside a retirement account (e.g. IRA, Roth IRA and 401(k)) to avoid the hassle of accounting for taxes on these trusts? Accurately ...
-1
votes
1answer
71 views

Do you pay taxes on "phantom" transactions related to precious metal ETFs held inside a retirement account?

Precious metal ETFs (e.g. GLD) collect expenses from you by selling fractional shares on a month-by-month basis You have to pay taxes on these sales You have to account for fractional shares sold from ...