Retirement Savings - Nerdwallet

Retirement Savings

Retirement savings refer to the money you save up so that you can stop working later in life and still have enough money to live on.

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Adam Harding
Adam Harding
CFP®
Scottsdale, AZ
6 recent answers
J.K. Roberts
J.K. Roberts
CFP®, CRPC
Phoenix, AZ
3 recent answers
Joe Allaria
Joe Allaria
CFP®
Edwardsville, IL
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William Hubble
William Hubble
CFP®
Addison, TX
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Marc Smith
Marc Smith
Dillsburg, PA
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All Questions: Retirement Savings
NewPosted April 28, 2016 · Miami, FL

I agree with colleague that an annuity does no make sense. An annuity would be appropriate if you were at risk of out living your money. Now would be ...

NewPosted April 27, 2016
Benjamin Brandt

Benjamin Brandt

CFP®, RICP

No, there won't be any penalties for cashing out your 401(k), as you are older than 59.5. You will have to pay income taxes on the amount you cash out...

NewPosted April 27, 2016
Jeremy Portnoff

Jeremy Portnoff

CFP®, MSFS

To calculate your RMD you divide your 12/31 prior year-end balance by the applicable life expectancy factor found on the IRS Uniform Lifetime Table. Y...

NewPosted April 27, 2016 · Chicago, IL
Jeremy Portnoff

Jeremy Portnoff

CFP®, MSFS

There is an exception to the 10% withdrawal penalty if separation of service occurs during the year you attain age 55 or later. Since you'd be separat...

NewPosted April 26, 2016

Thanks for your question. You are on the right track thinking about these things. The next 20-25 years will be crucial for you and your husband in pre...

NewPosted April 26, 2016 · Alexandria, VA

I can't speak to what option would be best for you without having more information about the exact fees in your previous 403(b) plan, but was curious,...

NewPosted April 26, 2016
J.K. Roberts

J.K. Roberts

CFP®, CRPC

Working with an advisor is your best option, considering the limited amount of info we can get from this question. I'm going to take the information ...

NewPosted April 26, 2016

Good to see you are thinking through all of your options as you approach retirement!

If I am interpreting your situation correctly, you have $200,000...

NewPosted April 24, 2016 · Louisville, KY

It's really hard to answer this without knowing what your current retirement balances are and how much income you need in retirement.

I generally te...

NewPosted April 24, 2016 · Charlotte, NC

Aside from the immediate tax savings, this is an interesting question as it involves the tradeoff of uncertain potential investment returns against th...

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