Archive for June, 2008

How much can I safely withdraw from my retirement savings without running out of money? Is there a formula?

Thursday, June 19th, 2008

goodguy9544 asked: I am planning on an early retirement and need to know what portion of my nest egg I can use to supplement my other sources of income without fear that I will end up with zero. I have another 40-50 years of life expectancy and plan to ...

What will the effect of the boomer retirement have on the stock market?

Monday, June 16th, 2008

poet1b asked: Right now, boomers are preparing for retirement. Most are earning in their peak years or near their peak income levels. They are pumping more money than ever into the market to pay for their retirements. The ratio of people pulling money out of the market to fund their retirements ...

What are the penalties for withdrawing your retirement funds early to buy your first home?

Saturday, June 7th, 2008

one4Christ asked: Does anyone know what (if any) are the penalties for withdrawing some or all of your retirement funds to use as a down payment to purchase your first home? I have a 457 retirement plan and I am considering pulling out $10K to go towards the purchase of ...

What happens to 401k and other retirement accounts when the “owner” passes away?

Wednesday, June 4th, 2008

Nadeem M asked: When someone dies, leaving an estate to their beneficiary, it could include stocks, bonds, investment accounts, retirements, real property, etc. I believe everything under $2 million passes to the heirs without any tax obligation. (Is this correct?) My question is about the tax-deferred retirement accounts (non-ROTH) that collect ...

What are the best retirement plans for a yong lawyer to consider?

Wednesday, June 4th, 2008

gooftroop_843 asked: i am a law school student and i want to know what would be the best way to plan out my retirement. Such as what i would be doing at what age. i am 26 now.Caffeinated Content - Members-Only Content for WordPress

What is better a retirement plan or a 401K plan? Is there a difference and how much should I save a month?

Wednesday, June 4th, 2008

**A Perfect Gentleman** asked: Do you know a good place to start when your employer is not doing retirement because you do not have enough hours? I dont feel like Social Security will be around when I get to the age to draw. That will be like in 2040 something.Create ...

Moved from Virginia prior to final federal retirement effective date - is last pay subject ot VA tax?

Tuesday, June 3rd, 2008

Rob W asked: I moved from VA a few days prior to my official retirement effective date. I receive a final pay, including substantial leave cashed out after I moved. Is this subject to Virginia tax? All preretirement pay, including this shows up on my W2 with ...