Comments on: How Much Do You Need in Retirement Saving? A Calculation

By: about gold ira companies

about gold ira companies — Sat, 16 Nov 2013 05:18:14 +0000

At retirement, two option is there for that retiree.
Each SDIRA company is somewhat different on their own process to finance new investments but uses a few things:
. , and take advantage of the down market right now and get these properties dirt cheap.

This sort of account could be created as soon as you get your
first pay check. The Entrust Group will be the premier provider of
account administration services for self-directed retirement plans within
the US.

By: Brick By Brick Investing | Marvin

Brick By Brick Investing | Marvin — Tue, 23 Apr 2013 00:35:39 +0000

By the time I retire I plan to have our house paid off in full and have a substantial dividend portfolio providing us with income as we grow into retirement.

By: JoeTaxpayer

JoeTaxpayer — Wed, 01 Aug 2012 13:11:34 +0000

In reply to SB. SB - the 17K to the Roth 401(k) does not impact the $5K IRA. Your income may impact whether you can deduct a traditional IRA or deposit to the Roth IRA.

By: SB

SB — Wed, 01 Aug 2012 03:58:42 +0000

In reply to Knoton Lyon. Two things, 1. depending on your income you may max out on IRA, Roth IRA and 401k before reaching 15%. I'd suggest still go for an index fund for target date saving (car, home, child education, parental care, etc) 2. if 401(k) Roth option is tried, will one still be able to put in $17,000 for 40k and $5,000 for Roth , making the total deduction from paycheck of $22,000, is it possible?

By: Knoton Lyon

Knoton Lyon — Tue, 31 Jul 2012 11:49:44 +0000

15% into retirement accounts is a good rule. Personally, I would start with enough to get the full employer match. Next I would max out a ROTH IRA. Third I would go back the the 401(k). I think you will hit 15% before you max out the 401(k). If there is a ROTH option inside of the 401(k), direct your contributions into it. It should not change the employer match or the investment options.

By: MCK

MCK — Wed, 30 May 2012 07:05:21 +0000

In reply to SB. I want to do everthing now too while I can but I fear having to work when my health is giving out. I don't want to stand for 6-8 hours at Walmart. I'd rather be broke and boring now then finacially comfy later in life. It is easier being poor when you are young!!!!!!!

By: SB

SB — Tue, 13 Mar 2012 03:16:29 +0000

In reply to Lori. As I mentioned above, I did lots of calculation and picked the highest one they recommend. I then added 15% to come up to my number.

By: Lori

Lori — Mon, 12 Mar 2012 15:48:17 +0000

I think it’s amazing that those calculators all give different numbers. I work with a financial planner who has worked hard to get me on track to be able to retire early. And, her numbers are very different than what those calculators came up with. I think I’d be in trouble without my advisor because I wouldn’t have a real idea of how to save for my retirement.

By: JoeTaxpayer

JoeTaxpayer — Tue, 07 Feb 2012 13:00:20 +0000

In reply to SB. I see. You are talking about an early withdrawal. Presumably, a single withdrawal, not a proposed early retirement. You are right, this is an issue. This is why after depositing funds that would be matched, one should fund their emergency savings so the retirement account is truly for retirement. Keep in mind, if one is unemployed, the penalty still applies, but the marginal rate is going to be 0%/10% for small withdrawals. Still less than the 25% rate it saved at the deposit.

By: SB

SB — Tue, 07 Feb 2012 03:15:42 +0000

In reply to JoeTaxpayer. Joe this is simple actually. If you are in 25% fed tax bracket and 10% state tax. With 10% early withdrawal penalty, you 45% in taxes when you tap in to your 401 (k).