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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
261 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
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4answers
503 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
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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 ...
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 ...
6
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7answers
1k views

Why would I ever invest in a traditional IRA over a Roth IRA

I've read many articles in the past about the differences between Roth IRAs and Traditional IRAs and no matter how I read it, it always seems like the author leaves some detail out that makes the ...
24
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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 ...
0
votes
1answer
180 views

Source of funds for formation of IRA-owned LLC

I've been reading the excellent book The Self Directed IRA Handbook by Mat Sorensen. My understanding is that I can achieve personal control of the checkbook for my retirement investments by forming ...
51
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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
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2answers
110 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 ...
12
votes
1answer
1k views

Should I pay off my mortgage, begin retirement savings, or build my emergency fund?

My Goal I am trying to calculate how best to apply my income to my various goals. For the sake of simplicity, I'm interested in the balance between three specific goals: Paying down my mortgage ...
62
votes
3answers
11k views

Saving for retirement: How much is enough?

How to save I'm in my late twenties and am trying to get started off on the right foot saving for retirement. I have learned that retirement savings should usually be placed in retirement accounts in ...
2
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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
196 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 ...
12
votes
2answers
1k views

Is it worth investing in 401(k) if a company doesn't do matching?

The company offers 401(k) but doesn't match your contribution at all. In this case, it worth investing in 401(k)? For what reasons might a 401(k) be preferred over an IRA if there is no match?
2
votes
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 ...
2
votes
4answers
435 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 ...
8
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3answers
2k 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 father’...
0
votes
1answer
176 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 ...
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 ...
7
votes
2answers
3k 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
167 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
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2answers
96 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 ...
2
votes
1answer
3k 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?
6
votes
2answers
551 views

Which should I prefer, traditional or Roth 401k? [duplicate]

Possible Duplicate: Recent graduate with new job: Choose Roth 401(k), or traditional 401(k)? I'm just a few years out of college, and am starting to put aside some retirement savings. My employer ...
27
votes
6answers
6k views

Ideal net worth by age X? Need comparison references

Is there a website resource that gives suggestions for how much savings or net worth I should have at any given age, based on my education level and salary? I'm in my 30s, have no debt, and have been ...
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 ...
11
votes
2answers
12k views

How many years do you need to contribute to Social Security to be eligible for benefit payments in retirement?

Recently I have been reading many articles about the insolvency of Social Security and how not to factor it in any retirement income. My questions are: How many years does someone need to pay into ...
11
votes
4answers
66k views

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

If I meet 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 ...
3
votes
3answers
13k 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 ...
5
votes
4answers
929 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
99 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 ...
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, ...
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 ...
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 $...
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 ...
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?
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 ...
57
votes
11answers
7k views

Should you always max out contributions to your 401k?

I am a year out of college, and therefore, i don't have any real retirement/investment plans kicked off. I was having a discussion with my boss, and he was making a few claims I would like to get ...
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 ...
2
votes
1answer
166 views

EU Start investing for longterm with partner who joins saving in a few years

First off, this question is related to this one. But in general, the answers are depending on the US-Situation. I would like to ask you the same question but specified on the Situation in the ...
3
votes
2answers
212 views

Retirement planning: Pension or personal saving/investing?

I work on short-term contracts that are well-paid - however, not knowing how long I will be working on a job, I have got into the habit of 'making hay while the sun shines' and saving what I can to ...
3
votes
2answers
272 views

Put a dollar value on pensions?

A friend of mine who works in another state is advertising help wanted. I'm slowly improving my personal finance techniques, and it seems like this is a good month to look at total compensation and ...
11
votes
4answers
3k views

Should I include retirement funds in calculating my asset allocation?

When calculating my asset allocation for applying allocation guidelines, should I include my retirement funding or not? You see, my investments have an asset allocation. But then, so do my ...
0
votes
1answer
108 views

Computing initial required cash for retirement

I am trying to create a simple retirement calculator. My inputs are: annual income required during retirement (before inflation) inflation rate number of years of retirement yield on investment I ...
3
votes
3answers
178 views

Retirement Options for Income

I am in the UK and hoping to retire in a few years. I am aware that pension rules have changed recently so an annuity is now not my main option for an income - due to my age annuity would only yield ...
17
votes
6answers
5k views

devastated with our retirement money that we have left

I am 48 and my husband is 54. We have approximately $60,000 left in our retirement accounts. We want to move our money into something so that it will grow. We've been looking at annuities. We've ...
1
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1answer
1k views

Is a federal annuity taxable in Maryland?

My husband retired from Federal employment, and they didn't take out any Maryland state tax which I didn't notice. Now I'm worried about 2015 taxes which I haven't completed yet. Could this be that it'...
2
votes
1answer
386 views

Why weight a portfolio by market cap when equal weighting has higher ROI?

I've been researching how to structure my different funds, and almost everywhere I look I see people buying funds based on market cap. e.g. investing 70% in a large-cap ETF like Vanguard's $VV, 20% in ...
5
votes
2answers
120 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 ...