None of us are in a position to make guarantees about anything, particularly how long we will live or the provisions for our loved ones in the event of our deaths. I hate the thought of being retired with no or little income and have to drive to a senior center to get our meals or having someone deliver them to our house one day in the future
If a person is living in poverty to meet the goals above, and sees no way out or job advancement, then career planning is needed: Income must be raised. For example, I have heard that you should save a minimum of 10 percent of your income for retirement savings, and that if you can save as much as 20 percent or more, you are really doing well
What rate of return should I expect on my 401(k)?
This asset allocation should be determined based on your specific appetite for risk, also known as your risk tolerance, as well as the length of time you have until you need to begin withdrawals from your retirement account. Rates of return on target date funds vary from company to company, but these one-fund allocations offer a hands-off approach to retirement savings within a 401(k)
Where To Invest: 401k, IRA Or Both? - Money Under 30
Reply Monica says: May 8, 2012 at 11:49 pm Another nice thing about the Roth is you can take out the original amount without penalty (but not the interest). Still dont know whether to roll into my new 401K or start a new IRA??????????? Thanks Reply Mathew says: December 8, 2012 at 2:01 pm No question about it
What if I decide to withdraw the money? - Ultimate Guide to Retirement
(The amount you contributed to the annuity will not be not taxed.)If your withdrawals come within the first five to seven years that you own the annuity, you probably will owe the insurance company a surrender charge
Investor Center - News and Advice from DailyFinance
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How much taxes do i pay if my salary is 135000 - If imake 135000 a year what are the taxes on that for a single :: PN phpBB Question and Answers
Do you get equal benefits salaried or hourly? As a salaried employee you may have better tax reduction plans such as 401K, health insurance (which is pretax) and FSA (also pretax)
Also, if you are issued a check, your employer must withhold 20 percent of your account balance for the IRS -- even if you indicate you will open a rollover IRA. So, in order to invest your entire account balance into your new IRA within the 60 days, you need to come up with that withheld 20 percent to supplement the funds you receive from your employer
What Percent of Your Net Worth Should Be in Your House? (Free Money Finance)
Many people in the NE, CA and FL saw their home equity skyrocket in the early 2000s, at teh same time the stock market was anemic: so their relative home to stock equity was high. If I knew that I would be in the same location for a very long period of time, I might pay cash for a house (and reduce my fixed income allocation accordingly)
Should I Stop Contributing to My 401k to Pay Off Debt?
Reply RC February 25, 2009 at 11:36 pm @edh- One thing to keep in my is that your 401k contributions are not tax-free but tax-deferred, which means you would pay taxes on your contributions and earned interest when you reach retirement age and started withdrawals. Reply RC September 17, 2008 at 8:19 pm @Shawn- What you say definitely makes sense-one should look at the total amount over the expected payoff period, and one can make up contributions (assuming they are not maxing out) and get a match on that later
Exceptions to the 10 Percent Rule The IRS waives the penalty on early withdrawals from 401k plans if you execute a rollover to an IRA or other qualified retirement plan, or you are over age 55 and have left your employer. He hasnt invested it in anything since I left, he even wrote me the check when I left with his name on it as a trustee but because I am unemployed, the bank I have wouldnt open an IRA for me saying I couldnt contribute to it
Should I Roll My IRA into My New Job's 401k? (Free Money Finance)
I would also say that I have seen 401K plans of friends and acquaintances here in the SF Bay Area and many of them have plans almost as good as mine (solid, actively managed funds, with below average expense ratios that beat their relevant benchmarks). I could also trade as frequently as I need with the understanding that some investments impose a short term redemption fee for shares held less than a specified number of days
How to Withdraw 401(k) Money With No Penalty Withdrawing 401(k) money without penalties requires waiting until the minimum age for taking out money, requesting an old 401(k) fund from past... When Should I Take Money From My 401k if I Am 60 Years Old? Can I Take Money Out of My 401K at the Age of 55? 401k plans are a common mechanism of funding retirement...
If I save more in a 401k at this time I get a tax break and increase the chances of (a) an early retirement, (b) a luxury retirement, or (c) having real estate funds at a later time. My question is: Is it better to rebalance your porfolio every year or so OR dollar cost average your regular deposits to continually rebalance? Reply Jazzy J says: May 8, 2010 at 10:39 pm I stumbled on to this looking for a to determine what percentage of a portfolio drives performance over time
We are down to a mortgage balance of 44,000 and our retirement account now has a sad balance of 186,000 which of course will more than likely take more hits as time goes on. Is your 401k your only source of retirement funds or do you have a company pension or other investments? How much longer do you plan to work? Do you plan on retiring soon or a few years from now? Finally cost of living has to be figured in as well
What should my daily contract rate be? - Salary.com
How much per hour should a per diem CPA make in the Jackson, Mississippi, metropolitan area? I'm considered self-employed, and I have 16 years of public accounting experience. The term per diem is also used sometimes to indicate a flat fee for daily reimbursable expenses, such as a per diem for full-time employees who travel.People who work on a per diem basis are often called contractors
Most clients with a 401(k) account also have investments outside of their 401(k) so we do try to keep everything allocated in line with their Investment Policy Statement. In retrospect, the downside protection was enough and I should have went ALL IN!Back in June, everybody was afraid the Euro Debt Crisis would spread and take down stocks further
60 yo, should I start moving my 401K to safety? (bond, IRA, fund) - Investing -stocks, bonds, mutual funds, trading, market, brokers... - City-Data Forum
i have been an investor since the crash of 1987 and i am still waiting for that time i feel comfortable enough to be in equity investments without fearing the next crash was around the corner. Vanguard was from a previous employer and right on target for my age, Fidelity is weighted more heavily in stocks from personal IRA's in there, then I have I bonds and bank CD IRA's so I'm sitting tight
What percentage of income should be savings? - YNAB
But for retirement that is many years off, it is extremely unlikely that you'll come up with an accurate figure needed, so using a percentage makes sense to me. I remember the book saying that if you followed these principles and didn't overspend on the rest of you money you really didn't even need to keep a budget because you would be fine
I maintained a loan for about a year before I felt comfortable again that I was able to build up my emergency savings to a satisfactory level and subsequently paid off my TSP loan 14 years early. If the folks in Washington that think they now how to manage your money better than you do have their way, you will be forced to convert these accounts to annuities at retirement
For the funds you roll into a traditional IRA to remain tax deferred, the plan administrator from your former employer must make the transfer, or you must deposit a cash-out check within 60 days
What Percentage of My Income Should I Save or Invest? - Budgeting Money
If you know you'll have to replace your refrigerator or your car or make a down payment on a house, saving for them separately from your retirement or emergency saving protects those funds. Think about when you want to buy, how much you'll have to spend and then figure out how much you have to save each month to get to that point by your deadline
Senior man with his dog on the beach image by Ivonne Wierink from Fotolia.com More Articles How Many Years Should I Save My Income Tax Returns? How Much Should I Invest Per Year? What Is the Percentage of Americans Who Invest in the Stock Market? The Percentage of Federal Taxes Paid Vs. Keep records of money you contribute and file a notice with the Internal Revenue Service each year detailing how much money you contributed from after-tax funds
Question 150 Related Questions Should we stop contributing to 401k to build pre-tax savings? 3 answers How much should I be contributing to my 401k and be able to have a personal savings reserve (emergency funds)? 2 answers I am a 30 year old female. Always seek the advice of your physician or other qualified healthcare provider with any questions you may have regarding a medical condition or treatment
If there is no match, you will actually end up losing money, because when you retire the government will subtract from your social security benefits if you exceed their limits, which is very very low. It sounds good but do you think thats a pretty good return? I am not really savy on the retirement note other than the fact that I am 33 and know I have to save
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