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.

37 questions with no upvoted or accepted answers
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4
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65 views

Social Security, expat, and small side business

I plan to retire soon. I am an American and I expect to get about half my retirement income from Social Security. I have not reached full retirement age. (I'll be 63.) I own a tiny side business that ...
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133 views

Pre-qualification screening for apartment rentals on apps like Zumper. How honest should I be?

I'm looking to move from one - expensive - rental apartment to another, similar priced. Now my circumstances are that I am semi-retired, starting a business and with more than enough money in the bank ...
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56 views

Switching from spousal benefit to my own and then back to spousal

I started collecting SS at 66 (my full retirement age), my wife started collecting SS (spousal benefit) at 66 (her full retirement age). If my wife switches to her own benefit at 70, and then I pass ...
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169 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
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0answers
64 views

Has there been any studies or economic theories regarding HSA and whether to save/spend

HSA have triple tax advantage: Pre-tax contributions Tax-free growth Tax-free withdrawals for medical expenses If one planned to only use this money for medical expenses after retirement (62), is it ...
2
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0answers
44 views

Income taxes - Changing state of residence before moving out of the US

I'm an European citizen working for in the US with a 2 year contract; I was and will be a non resident alien for 2020 and 2021, but RA in 2022; I have to contribute to a retirement fund (it's a 401(a),...
2
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0answers
267 views

Saving diligently, but the amount of retirement fund seems too much

I recently achieved 100 million KRW (South Korean Won, about 86,000 USD) after a bit less than 5 years of work. I'm somewhat proud of myself for being diligent, but I'm afraid if this is not enough. ...
2
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0answers
64 views

What to do if company is not honoring vesting schedule in Pension Protection Act?

Let's say someone works for a company that lets employees contribute to a 401k, and the employer offers a match. Based on my read of the 2006 Pension Protection Act (beginning on p. 2 of the linked ...
2
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0answers
94 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 ...
2
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0answers
35 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 ...
2
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1answer
263 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 ...
2
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0answers
158 views

Why does this retirement calculator calculate ROI on only half of my savings?

I plugged some example numbers into the early retirement calculator at Networthify: a $50,000 annual income, $15,000 of annual expenses, and a starting net worth of $100,000. I’m confused about one ...
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116 views

Help me apply Windfall Elimination Provision to my situation

I struggling to understand exactly how the Social Security's Windfall Elimination Provision applies to me in my situation (and thus what it specifically means for how long I should keep my part-time ...
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56 views

Why is my unreduced retirement date same as the normal retirement date

My employer says that my unreduced retirement date is the same as normal retirement date (at age 65). How come some people have unreduced retirement date that is upto 5 yrs sooner than their normal ...
2
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1answer
92 views

Shutting Down my Solo 401(K) plan

I recently shutdown my individual 401(K) plan at E*Trade. There was also a Roth 401(K) plan also. I plan to file form 5500EZ just once to cover both plans. Is that okay? I just spoke to E*Trade and ...
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41 views

Should retiree take insurance from employer or should he/she take from external insurance organization?

My dad is retired bank official in India. I want to know if he should go for health insurance provided by his employer or he should go for other insurance organizations, given say the cover is exactly ...
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0answers
41 views

Strategies for Asset Allocation Considering Different Kinds of Tax Advantaged Accounts

What are some strategies for asset allocation across taxable and tax-advantaged accounts? I have: A Defined Benefit Pension Plan (not really relevant to this question) A pre-tax supplemental ...
1
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0answers
50 views

401k or Roth IRA for non treaty countries

This might be a bit complicated, so pretty please bear with me a little. I am currently living in USA on a E2 visa. My employer offers both 401k and Roth IRA. I do not plan to neither retire nor ...
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0answers
20 views

Traditional IRA and SEP IRA at the same time

I am self employed through my LLC and I am also employed by a company via W2 What would be my contribution limits to SEP IRA and Traditional IRA? Are my SEP IRA contribution limits separate from my ...
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0answers
30 views

How do I record roll over of IRA and CMA into the purchase of service credits on my federal income tax?

I work for the a county government with its own retirement system. I served about 10 years in the military. A couple of years ago I found out my dad had put money in an IRA and a UTMA CMA for me. I ...
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0answers
95 views

Transfer from US 401k fund to Australian Superannuation fund

I worked in the USA for a number of years and have now relocated to Australia. I have balances in both US 401k fund (+ IRAs) and Australian superannuation fund. It seems that the Australian ...
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59 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 ...
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155 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 ...
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0answers
96 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 ...
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41 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. ...
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0answers
32 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 ...
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0answers
77 views

How do I learn about the retirement benefits arrangements when moving to the US?

I live in the Netherlands and before that I live in Israel/Palestine. I have a pretty good knowledge of the retirement(+severance) benefits system back home, and a mediocre knowledge of how it works ...
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0answers
866 views

Are IRAs and 401(k)s insured against theft?

If someone steals (maybe by logging in with stolen credentials) from a person's retirement account, is that money gone, or are accounts insured against theft and hacking? Edit: it sounds from the ...
1
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1answer
151 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
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1answer
161 views

Steps to calculate reduction in spending vs. savings till retirement

I'm stuck and I I think it's an algebra issue. I have a typical what do I need to save (today) so I can retire question for the first part. Let's say you need $1,239,926.43 in savings at retirement (...
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32 views

Starting/acquiring a business to minimize RMDs

Suppose an individual is 72 years of age and would like to minimize RMDs from a traditional 401k plan. They are willing to continue working in order to qualify for the still-working exception, as ...
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0answers
181 views

Am I on the right track? Feedback welcome!

Here's my situation: 43 y/o, married w/ two kids under 10. I'm in a defined benefit program and I have a formula where I can retire at 60 with 2% of my highest salary times the number of service ...
0
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0answers
55 views

One RA vs multiple RA's (investments in general as well)

I am young and trying to work out how I want to get a retirement annuity sorted. My question is, is it better to put 9 in to one RA, or 3 3 3 in to 3 different RA's? (here I just use the numbers to ...
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0answers
101 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 ...
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0answers
70 views

Possible to file W-4P "retroactively" for annuity early withdrawal?

I made an early withdrawal of $25,000 from an annuity account [no surrender fees] and, at the time, it was my understanding (based on conversations with the financial rep) that the taxes would be ...
0
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1answer
205 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 ...
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1answer
946 views

Can you retire when owning 3 or 4 houses, and what if you still have to pay mortgage on some of them?

I did some calculations before, and found out if a person own 3 or 4 houses, townhouses, or condos, then the person can probably retire. That's including living in one house, and getting rent from 2 ...