Category Archives: Retirement,401k,Social Security
I’m 66, Taking Social Security, and Have $745,000 in a 401(k). Is It Too Late to Convert to a Roth IRA?
Legally, it’s never too late to make a Roth conversion. The IRS will let you move qualifying funds at any time as long as you can pay the resulting tax bill. For those in or near retirement, the bigger question
I’m Going to Get $3,000 Per Month From Social Security. How Can I Reduce My Taxes?
When determining your income taxes in retirement and on your Social Security benefits, the IRS uses your “combined income” and filing status as the two main markers. At $36,000 a year from Social Security, none of your benefits would be
We Are 65 With $1.9 Million in a 401(k) and IRA, and $5,200 Monthly From Social Security. What’s Our Retirement Budget?
To really build a complete retirement budget as a couple, you’ll need to take into account both potential income sources and realistic expenses. While it’s possible to come up with an estimated income or range of incomes from these figures,
The 5 Worst Retirement Mistakes to Avoid at All Costs
To do retirement right you need a disciplined savings plan, a good understanding of Social Security, a sound investment strategy and a vision of retirement that provides for adequate self-fulfillment without overspending your fixed-income budget. Behind those simple principles lies
I Have $1 Million in Savings and a Pension. Should I Delay Social Security and Rely on My 401(k) for 8 Years?
If you have $1 million in a 401(k) and collect a pension, you may be in a position to delay Social Security until age 70. Doing so can boost your monthly benefit by up to 24%. However, delaying Social Security
Social Security Update for September: What You Need to Know
If you receive Social Security payments, whether you’re in retirement or have a disability, the Social Security Administration (SSA) calculates your benefits as a monthly sum. Each aspect of the program, both Social Security and Supplemental Security Income (SSI), then