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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3
votes
1answer
335 views

Calculating Social Security with early retirement

I may retire early, in my mid 50s. How can I tell what my Social Security benefits will be? The SSA website says: At early retirement age (62): $XXXX a month Your estimates are based on the ...
2
votes
1answer
562 views

Is it a bad idea to retire without owning a retirement property?

I'm still years (OK, decades) away from retiring, but I was wondering the other day about whether or not I should start paying towards a retirement property (a place to call home when I retire). I ...
12
votes
6answers
491 views

First concrete steps for retirement planning when one partner is resistant

My husband and I are both 40. We have 2 children, one in 3rd grade and one in 9th grade. When I try to talk about planning for retirement, my husband says he doesn't want to retire, that he wants to ...
0
votes
1answer
129 views

When to start investing in the stock market?

Backstory: I am in my first job in my professional field. After all my bills are paid, I have ~$1k left over every month. These bills are all inclusive, mortgage, groceries, gas, etc. My job is with a ...
2
votes
1answer
104 views

As a British ex-pat living in the USA, should I top up my NI contributions?

I have lived in the USA since 2005 and am in my mid 40's. I am a permanent resident of the USA, not a citizen. While in the UK I did not contribute sufficient to NI, and so would get letters from ...
1
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2answers
281 views

How do you best invest in retirement accounts with a large income?

I recently had an increase in income and would like to know how it affects the way I should save for retirement. To keep this question generally helpful, please assume an annual salary of ...
6
votes
2answers
1k views

When is the deadline for 401(k) contributions for the tax year?

Let's say I open a 401(k) account in December 2016. When is the deadline for contributions to the plan for the current tax year? Is it December 31 2016 or April 15 2017? Also: Can I contribute to the ...
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 ...
2
votes
2answers
172 views

Invest all at once after maxing out Roth IRA - or each time I contribute?

When I transfer money to my Roth IRA account, it keeps it in a cash account until I invest it (doesn't do it automatically). It takes me around 6 months to get to my $5500 limit. Is it better to ...
3
votes
4answers
350 views

Should I invest everything in emerging markets ETF when I'm young?

Lifecycle investing is growing in popularity in the industry, where people in their 20s and 30s are invested into high risk portfolios (equities) and people approaching retirement are transitioned ...
2
votes
1answer
2k views

Switching Roth IRA ( from American Funds to Vanguard)

After reading Roth IRA: Vanguard vs Free Advisor's Mutual Fund, I'm considering switching my Roth IRA from American Funds to Vanguard. What should I be aware of when doing so? Would it be better to ...
-1
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3answers
1k views

Can I invest in gold through Vanguard (Or another instrument that should perform well in financial crisis)?

Looking at my retirement money, and wondering what specifically could go up in the event of a crisis on the scale of what happened in 2007 to 2009. There is a Gold and Mining Fund, but it actually ...
2
votes
1answer
175 views

Comingled 401(k) Funds

I made the mistake of not separating my pre and post tax 401(k) contributions while working. I am now retired and I want to know how and if I can take the approximately $75K (actual after tax ...
0
votes
1answer
51 views

Is there a way to be credited for work performed where employment taxes were returned to the worker after their employment ended?

My wife worked for almost 4 years when we were first married. After she quit her job to stay home, she was advised that she could request her employment expenses be 'refunded' to her, including her ...
2
votes
1answer
145 views

Should I convert Traditional IRA to Roth IRA in 2016? (25% tax bracket)

I'm married, in my late 20's and we're considering converting a Traditional IRA to a Roth IRA this year (end of 2016). There's about $7k in the Traditional IRA. Our combined income puts us in the 25% ...
0
votes
2answers
436 views

How to gradually invest in real estate without excessive risk?

A friend whom I've known for about 8 years recently asked me for advice and I wasn't sure how to respond. I became curious and decided to see if others could weigh in. Background: He and his wife ...
3
votes
2answers
200 views

Early Retirement Options (UK)

I am hoping to take early retirement and am considering options for deriving an income. I have 8 years to go before I can touch my private pension, (20 until I can get my state pension) I expect this ...
5
votes
2answers
124 views

Cost Basis in Retirement Accounts Irrelevant?

Since distributions are considered income for traditional accounts, and Roth distributions are not taxed, does using Lot Identification instead of Average Cost (or vice versa) make any difference ...
3
votes
1answer
162 views

How should I choose an additional retirement investment plan?

A friend of mine now works as a personal finance advisory with “tecis” and has suggested me to plan for my retirement. I am 25, so I have quite a long time still to invest money for retirement. The ...
4
votes
1answer
90 views

How can I figure out the optimal IRA distribution before the deadline?

After reaching 70 I have always taken the minimum required amount from my IRA each year. If I understand correctly, I have to make this decision by December. I do not usually know what my other ...
7
votes
5answers
889 views

How to correct interest rate for inflation?

I'm looking for someone to double check my math and who can tell me if I have correctly accounted for inflation. Say you hypothetically invest $100 with 7% rate and 2% inflation. You would end up ...
1
vote
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'...
8
votes
3answers
508 views

Does the cost of long-term care insurance depend on your health?

I'm 50, living in California, planning to retire early at 60, and am trying to do projections of to make sure my wife and I have enough money so that I can do this. I think I have most of the ...
2
votes
1answer
108 views

Do I qualify for Traditional IRA tax deduction?

I am looking at the link here to be able to figure out if i qualify for tax deduction in traditional IRA. https://www.wellsfargo.com/investing/retirement/ira/traditional-or-roth-ira/traditional/ on ...
4
votes
2answers
1k views

Is it possible to rollover a UK SIPP retirement account to a US IRA when repatriating?

I've got a UK SIPP retirement account from being an expat working in the UK for 5+ years for an affiliate of a US employer. As I try to decide how long I'm going to stay in the UK, it occurred to me ...
5
votes
5answers
3k views

How and Should I Invest (As a college 18 year old with minimal living expenses)?

I'm currently 18 years old and about to head into college. I have about $1K in savings, and have been told that you should get into investment and saving for retirement early. I make around $200 per ...
2
votes
1answer
350 views

Building a Taxable Portfolio Properly

I'm currently maxing my 401(k) and a Roth IRA. I have emergency savings, savings for a house down payment, and savings for vehicle maintenance. I'm looking for advice on how to properly build a ...
2
votes
1answer
228 views

How much does the average person spend supporting their aged parents?

This Aging Without Children article states "Family is seen as the solution to aging". How true is this? In China it can be required by law. I live in the US and it seems like the flow of funds more ...
4
votes
1answer
100 views

How do personal retirement accounts factor into asset calculations for mortgage qualifications?

In applying for a mortgage, one important consideration is a list of your assets. I know this can vary a lot, but I'm curious about the particulars of how a retirement account would count towards your ...
3
votes
1answer
154 views

How can I be sure I will receive all of my pension payments when I have worked for many employers?

Most people will work for many employers in their lifetime. In the UK, your employer contributes to your pension. My question is, when I come to retire how can I be guaranteed to have access to all ...
4
votes
4answers
397 views

New grad with new job seeking advice on how much I should put towards my 401(k)

I have a new job that pays ~100k. I'm in my early 20s. I'd like to figure out the most financially intelligent course of action when dealing with 401(k). This is the policy: X company will match ...
2
votes
1answer
410 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
3answers
1k views

How do I handle fund minimums as a beginning investor?

I'm in my early 20s, and I'd like to get serious about how I manage the money in my Roth. It's not very much, and up until this point I've only been messing around with putting it into commission-free ...
1
vote
1answer
559 views

What to do with $20,000 at 65 years old?

I just turned 65 and have 20K from a house flip. I got the money when I cashed in a 25K job savings account 401(k). I paid about 5K in penalties to cash it in. I'm drawing social security but plan on ...
8
votes
2answers
330 views

Should I prioritize retirement savings inside of my HSA?

This year I switched my family from a traditional PPO plan to a high deductible plan with an HSA. This is a great move for our family. I have been reading about using an HSA as an investment vehicle ...
4
votes
3answers
1k views

what if a former employer contributes to my 401k in the year following my exit?

My last paycheck as an employee was paid in early January but my last day was 12-31. The former employer contributed in error to my 401k for the new year with my money earned in the previous year. ...
21
votes
3answers
6k views

Laid off at age 54 1/2, am I eligible to withdraw my 401k money without penalty?

I will be turing 55 this year in November. I got laid off 2 weeks ago (April 4, 2016). I worked in New York City and live in NJ. Can I withdraw my 401k without penalty?
0
votes
1answer
246 views

Should I buy a 2nd home for approx. $400-450K at age 63, if I can put down 35-40 percent?

I own and lived in a condo apt. and have no mortgage on it and moved (out of state) and rent it out. I am supported by the rental income as well as still earning a modest income. I want to retire in a ...
0
votes
1answer
35 views

Class of shares specifically for retirement accounts with contribution limits

Regarding US retirement accounts like a 401k or IRA, can a corporation (or any entity) get around employee contribution limits by contributing a class of shares that have a certain value but get ...
1
vote
1answer
505 views

Contributed to a Roth IRA…But I'm Married Filing Separately

In 2015 my wife and I both contributed $5,500 (each) to a Roth IRA. We went to a bank, talked to an adviser and generally felt like we were doing the right thing. The website for managing the IRA ...
1
vote
2answers
663 views

Pension + Pay Compensation Calculation

How would you do a simplified calculation of your compensation with an added pension. E.G. Your pay is $50,000. Your employer will pay you roughly $0.33 for every dollar you earn after you retire. It ...
25
votes
3answers
6k views

If I switch jobs to a lower tax bracket right before I retire, do I save on 401k taxes?

I'm curious about how your withdrawal tax bracket is determined for your 401k Here are the scenarios: A) Let's say I am making $100,000-$200,000 per year for my whole career with a Traditional 401k. ...
1
vote
1answer
3k views

When a publicly traded company splits into two how are common shares fairly valued, distributed?

I recently read that Alcoa, a publicly traded company (AA), will soon split into two publicly traded companies. While merging two companies makes sense to me, splitting does not. Merging companies ...
2
votes
2answers
512 views

Retirement Savings vs. Student Loan payments

I'm currently 23 and deciding if I should pool my extra income every month towards my retirement or student loans. My situation: I believe between saving for retirement and student loan debt I have ...
4
votes
1answer
225 views

Getting retirement savings back on track after 30

I've largely ignored dealing with my finances in the past, mostly because I really, really hate dealing with them, and as a result have made some poor decisions. I've been making good money but I've ...
2
votes
1answer
90 views

Are there any tax-advantaged retirement plans I can use if I'm a grad student with only stipend/fellowship income?

I'm starting a graduate program in 2017 where I'll get a stipend. I don't think I'll receive a W2 because I won't be working for the wages, so I don't think I can contribute to my IRAs while I'm in ...
9
votes
1answer
113 views

Can capital gains or rental income be used for contributing to a retirement account?

If my wife is considered a real estate professional, and she buys a house to flip, can the gain be used to fund a tax retirement account i.e. SEPP or a 401(k)? Can the rental income from rental houses ...
5
votes
1answer
103 views

Fees for depositing US social security check

My bank charges a significant fee for deposits of US Social Security checks. Is this generally a paid service or I should explore other banks and get lower fees?
0
votes
3answers
318 views

Retirement planning 401(k), IRA, pension, student loans

Currently I am making 58k/year with a chance for a 10% bonus. (I am pretty sure I will receive this bonus). I'm trying to decide how I want to set myself up for retirement. I'm 23 years old turning 24 ...
5
votes
2answers
806 views

Why did federal taxes come out of my check when I elected 100% pre Tax 401k contribution

I got a bonus check and elected 100% into a pre Tax 401K. I knew FICA would come out but was surprised when federal tax came out as well. The Gross was $2278. with $85.07 going to federal and $174.26 ...