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.

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2answers
80 views

Does participating in a work 401k increase my take home from a Traditional IRA account?

I am checking out a Traditional IRA calculator and it seems that if I check that I have an Employer Plan (I do have a 401k plan), my after Tax return is 272k. If I uncheck that box, the number goes ...
4
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3answers
647 views

Is diversification better

I have had a retirement account of one form or another for over 20 years. I lost a lot of money when the .com bubble burst and since then I have followed general rules about diversification. I have ...
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1answer
201 views

Social Security widower retroactivity

I'm trying to help my dad get his Social Security retirement stuff figured out. He waited until a couple months before he was 62 and found out that he could have been getting widower's benefits since ...
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1answer
191 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 ...
4
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4answers
171 views

401k withdraw funds or switch companies?

I recently left my job. They provided a 401k and its currently at ~$10K. What do I do now? I'm relatively young and this is my first time dealing with a 401k. My questions are... Do I have to ...
6
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2answers
128 views

When I withdraw SS vs when I retire

If I stop working at age 65, can I wait to age 70 to accept SS (living off of my own retirement accounts and younger spouse's income) for those 5 years?
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3answers
647 views

Can I retire after 10 years of work?

According to this site after 10 years of work I will have enough credit to retire. But what does it mean in reality? How can one just retire after 10 years of work and be eligible for social ...
0
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1answer
77 views

Understanding 403(b) plans and Pension Plans

A company that I worked for long ago stopped mailing retirement savings statements or any info about my account. It took about a year for me to notice. They first switched from quarterly to bi-...
2
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2answers
774 views

In the UK, could low-income pensioners (or those near a low-income retirement) find a student loan useful for boosting their finances? [closed]

A couple of things in the news recently: Martin Lewis' analysis that most students will never pay their loans off. The Pension Minister's suggestion that the WASPI women retrain. got me wondering.......
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2answers
209 views

Should retirement fund be equal to amount of money needed for financial independence?

Retirement funds aren't very common in Pakistan but I got interested in them reading question and answers on this forum. I want to know ideally how much should a person save for retirement funds? I ...
40
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4answers
14k views

Is a higher salary worth not having a 401(k)?

An individual recently got offered a job that paid significantly more than what she is making now (more than $18k - which is the maximum 401(k) contribution). She currently makes $30k a year. However, ...
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3answers
3k views

Target Funds for a casual investor - benefits/drawbacks

I want to invest in something but don't have much knowledge; I'm considering a target fund based on approximate retirement date. What are the benefits / drawbacks to a casual investor, of investing ...
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0answers
74 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
760 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 ...
2
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1answer
628 views

HSA penalty with Medicare part A

I just retired from my job at age 65 effective 3/31/17. I was contributing to an HSA up until 3/31/17. SSA says I will be penalized if I start taking my Social Security benefits now because SSA will ...
7
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6answers
712 views

How can I possibly retire comfortably?

I'm 35. I have $50k in an IRA. Using an online IRA calculator, I find that I'll have less than $900k at retirement, assuming I work until I'm 67, and I continue to make the full contribution to the ...
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1answer
1k views

My first 401k, starting late-ish - should I stick with target date? [closed]

I just got my first "big boy" job at the tender age of... 34, after a long time in academia and a startup stint that worked out pretty well (startup got acquired by public company) - so now it's the ...
6
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2answers
227 views

Self maintain my 401(k) if company offers no benefits?

I am switching jobs. My previous job offered a 401(k) plan and I contributed through payroll. My new company literally offers "no benefits at all" meaning no 401(k), healthcare, etc. How can I still ...
1
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1answer
1k views

Pension build up as a foreigner in Singapore

I am a 30 year old moving to Singapore for a few years to work for a local company. So far I have worked 6 years in different EU countries and during that time my retirement fund was arranged through ...
1
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3answers
253 views

Why don't financial advisers count home value?

I notice that retirement/financial advisers don't seem to consider home value when tallying retirement savings. Why is this? Not having to pay rent every month is a huge advantage during ...
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2answers
223 views

Where should a friend dump a large lump sum retirement payout?

I have a friend that is getting about 400k as part of a retirement payout. (choose this over the 9k a year they were offering for installments) My question is where should they invest this? Not ...
1
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3answers
367 views

What is the benefit of investing in retirement plan versus investing directly in stocks yourself?

I do not understand the following: why do I want to invest in retirement account and not be able to access my money until I am old rather than taking my money now and invest them in stocks directly ...
1
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1answer
200 views

Where to start with personal finance in Canada?

This will obviously differ by situation, and might be overly broad, and very closely related to Where to start with personal finance?. But how about some Canada specific answers? Say you've reached ...
3
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1answer
180 views

Mortgage for retirement home when retired

Planning to retire in about 1 yr. Currently own our home outright with a current value of $450,000. Other assets total about $1,900,00. No debt. Are there any issues in obtaining a mortgage for a ...
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2answers
264 views

Company Wants Me To File 401(k) Though I'm Resigning

I recently became eligible for my company's 401(k) plan. The company financial adviser has been chasing me down for over a month to file and I've kept waving him because I was job hunting and had no ...
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3answers
149 views

Investing for Dummys [closed]

I'm 60 years old, no net worth, no investments, living paycheck-to-paycheck. What and how do I get started? I'm investing illiterate.
1
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1answer
198 views

If you withdraw principal from a Roth IRA, what happens to the amount it earned while in the account?

I understand that you can withdraw your principal from a Roth IRA anytime without penalty. But what becomes of the earnings accumulated on that principal?
5
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2answers
312 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 ...
167
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6answers
34k views

What happens to people without any retirement savings?

I'm not sure if this is a naive question. I'm struggling mightily with a family member (and everyone has a similar story) who just cannot make the right financial decisions. This person will forever ...
23
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4answers
2k views

Is it worth saving HSA funds until retirement?

I recently discovered that there is no lifetime limit to contributing to an HSA account - provided that you don't contribute more than the limit per year. Assuming that an individual makes a decent ...
2
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2answers
284 views

Long term investing alternative to mutual funds

Background I'm trying to figure out what is the best way to supplement my RRSP for retirement. In Canada, I can contribute roughly 18% of my annual income (up to an annual maximum of about $26,230.00)...
2
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0answers
116 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 ...
8
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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 ...
1
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1answer
115 views

Better to pay off high interest cards or invest

My gut feeling tells me that before retiring, one should be as debt free as possible, but to be in that situation, I'd have to dig into my retirement fund. Currently owe ~25K in credit card payments (...
3
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1answer
469 views

How Does the Foreign earned income exclusion apply to qualified distrbutions

Someone asked a question about working overseas and the answer pointed to this link: Foreign earned income exclusion. Could a person that is retired, and living overseas use this deduction for ...
1
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1answer
1k views

What are my options for leaving a job with a Simple IRA within the 2-year period?

I have a Simple IRA through my employer that currently has ~$3,000 in it. While this account was opened over two years ago, my understanding is that the 2-year period for SIMPLEs starts with the first ...
7
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7answers
4k views

Should I Use an Investment Professional?

A recent article I read cited: People who work with an investment professional are nearly twice as likely to those who DIY to feel confident that they will have enough money to retire. and 44%...
4
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2answers
186 views

Does it make sense in some cases not to use a Roth IRA / 401(k) for savings?

I'm 21 and as I prepare to graduate college I'm trying to get a handle on how best to achieve my financial goals. From reading this site I often see people preaching the benefits of maxing out your ...
2
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2answers
496 views

Shift from aggressive investment to Money Market

I want to move my aggressive 401k funds to a conservative Money Market within the same 401k program and hold for a year or so. I have less than 10 years till retirement and don't want to lose the way ...
2
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2answers
221 views

How can I figure out how much of a salary I need in the future, adjusting for inflation?

I looked at an inflation calculator to see what salary would be needed in 35 years to keep current "state of living." I put in 50,000 for today. http://www.halfhill.com/inflation_js.html (I have no ...
2
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2answers
130 views

How should I invest for retirement without a 401k or tax deductible IRA?

I switched jobs at the beginning of the year and my new job doesn't have a 401k plan for the first year of employment. Unfortunately I put a small amount of money this year into a 401k from my ...
4
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4answers
276 views

Sanity check on choosing the term for a mortgage refinance

This is a VA refinance (IRRRL). The fees are the same no matter which choice. yr apr p+i 15 3.875% $869 20 4.000% $718 30 4.000% $566 IRRRL does not include ...
5
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2answers
130 views

Are there tax-advantaged accounts (e.g. HSA, FSA) for retired Social Security recipients?

Medicare doesn't cover 100% of my medical and dental expenses. Is there a tax advantaged plan I can start to contribute to in order to pay them? I have no employer to 'offer' one.
1
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1answer
73 views

Investing: Pre-Tax VAG w/ 100% emp match, or post-tax LendingClub?

My employer offers a 100% match on investments made into our retirement plan, up to 4% of a user's salary, over a 6-year vesting period. I have no intention of remaining at this company for six ...
3
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2answers
5k views

calculating investment principal after monthly withdrawals

I am trying to find a formula for calculating the annual or quarterly principle remaining in a compounded interest investment account with no additional investments but with monthly withdrawals. ...
8
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1answer
813 views

How is the IRA contribution limit determined?

How is the IRA limit determined? Social Security gets an annual cost of living adjustment, why aren't these adjustments carried over to the IRA limits as well? The last time the IRA limit was ...
14
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2answers
1k views

Will the Windfall Elimination Provision reduce my Social Security?

I have recently changed careers after working for 20+ years outside of education, and now I'm being told I will never be able to access any of the SS dollars I have contributed because now my ...
7
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1answer
2k views

Is social security paid biweekly or monthly?

Is social security paid biweekly or monthly? My father is retiring soon and I can't seem to find this answered directly.
3
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2answers
304 views

Does it make sense to retire in a state with no state income tax?

TL/DR: Is it worth retiring (fully residing or snowbirding for a substantial part of the year for tax reasons) in a state with no income tax? What are some factors to consider? Is there a net ...
0
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1answer
115 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 ...