Personal Finance Retirement

retirement....? why it is important to begin planning for retirement early?

What will the effect of the boomer retirement have on the stock market? 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 in comparison with the people putting money into the market to save for their future retirements is better than it will be for at least the next three generations, most likely more. In the next five to fifteen years, the ratio of people paying into the market to save for their retirements in comparison to the people taking out of the market to pay for their retirements is going to change drastically. The draw on the market will increases drastically over the savings rate to finance retirement. This will be a historical first for the stock market.

What is the difference between total career points and retirement points in the military? I spent 3 years, 9 months and 10 days on active duty (was released 3 months early for graduate school) That gives me on my retirement printout 1371 retirement points. Then, I joined the guard and received another 164. Total retirement points 1535 for a total 5 "good" years. However, I also did some correspndence corses which I was told to turn in to the retirement person which shows up on my printout as "ACCP Misc Points" and is added to the "Total Career Points" column--NOT the "Total Points for Retirement Pay" column. Question--what is the difference between "career points" and "retirement points?" If career points are not calculted for retirement pay, what are they good for? To the one responder so far--I am sure you know what you are talking about--however, I have no idea what "non-retirement bond" means.

How can you get retirement when your employer does not offer it? My husband has no retirement plan with his employer and are there companies out there retirement companies that offer plans for the individual. If so, then what are some good companies to have a retirement plan through.

How will my retirement savings affect my ability to get financial aid for grad school? I have been working for almost 10 years and have been building my 401K since I started right out of college - now, I want to go back to graduate school, but I don't know if I'll be able to get any financial aid or favorably-priced student loans if I have retirement assets. Am I required to dip into this money as a first-dollar plan, or can I keep my retirement assets intact & still get financial assistance (even a Stafford loan)? Thanks!

What is the FULL retirement age for social security retirement benefits? Full retirement age means that you won't get a benefit rate which has been reduced because of age.

What retirement plan rules do you need to know for the series 7 exam? I have a STC book my company gave me and it has the 2004 numbers for all the retirement plans. I know there was a major change in late 2006, so should I know the old rules or the new ones? Also, I'm getting at least 90% on all practice exams and understand the options in the book very well. The only thing I have trouble with is remembering some details like all the exemptions for rule 2790. Is the exam that detailed?

What is the best retirement savings plan for a small business owner? I'm a small business owner (4 full time employees) who does not offer any retirement plan or have one for myself. My employees are commission based only. What would be the best retirement plan for me and for all of us, individually? Thanks!

Can my retirement account invest in real estate that I purchase for leasing to unrelated tenants? If I have a retirement account, say a 401k or an IRA, can I use those funds - not to borrow - but as an investment in a mutli-tenant residential apartment complex that I will be leasing to unrelated tenants to derive income? How is this done? Who do I talk to about the details?

How does retirement for reservists work? I am in the USAF reserve now as an avionics tech. (enlisted). I plan on reenlisting and hopefully retiring. I also plan on a career change (officer) since I will be getting a degree in nursing. How will retirement work in my case? Do I have to wait until I a certain age to start receiving benefits? What about on-base privileges? I plan on staying straight reservist; no active duty except for TDYs. Thanks!

What happens to 401k and other retirement accounts when the "owner" passes away? 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 ordinary income tax when you draw the funds. Would this tax be required from the heirs? Thanks.

How good is a 403(b) retirement plan compared to the others? I am taking a new position at a non-profit organization. This company is offering a 403(b) retirement plan and I am wondering if I should take it or not. They will pay 75% after 1 year and I can make contributions, before taxes, of up to 10% and I can be fully vested after 3 years of employment . What is the difference between this and a 401K or other retirement programs really?

What percentage of retirement money should go to real estate? My parents have reached their retirement age and are planning on buying a home in California. What percentage of their savings should go to the downpayment? They want to maximize the downpayment so that their monthly payment can be easily covered by their Social Security and pention. But I worry that they won't have enough investment in other areas and will be short on the rainy-day funds. Please help! Not that I didn't try.... Grandparents always want to stay close to the grandkids. My husband and I are probably going to be in Ca long-term so that makes it impossible to convince my parents to consider other states. They are not millionairs and they are not going to invest in real estate. Just want to get themselves a place to live and still have some extra money for day to day spending.

Is it more important to have 3 different retirement savings accounts? My husband has been stashing money into 3 different retirement savings accounts through his work. I just found out about it after 3 years he's been on this job. Is it so very important to save for one's retirement that we can barely get by payday to payday? If he had bigger paychecks without saving for retirement we would be out of debt by now.

What is the best source for starting a retirement account? Im in my early twenties and I just started working after finishing school, but I do want to start a retirement account. What source or foundation should I use for a retirement account? Im pretty dumb in this area. Is a savings account through a company like ING Direct bad for a retirement account?

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

What is a good retirement present for a Englishteacher? I've been with my English teacher for 4 years, and she is retiring this year. She was going to retire last year, but she decided to stay and see my class graduate. What would be a good retirement present to get her? Any ideas are appreciated! Thanks!

What is the best retirement option for someone that wants to save on his own? I am a foster parent and I get paid by my agency through a per diem. That means the money I get paid is tax free. And since I don't have a full time job, I don't have a retirement plan. I want to start saving for the future. Can any one help?

What are the penalties for withdrawing your retirement funds early to buy your first home? 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 my first home. Normally I would be penalized 30% but I heard somewhere that there are 3 circumstances where this is allowable without penalties. Can anyone vertify this is accurate or tell me where I can get more info. Thank you!

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

How much of my retirement contributions will I get back if I leave my job? I'm employed with the local public school system. I began working for them eight years ago. Through my employment, I have been having an amount deducted from my check to be placed in a retirement account through the school system. The system has been adding funds to it as well, but what I am concerned about is the part I have been contributing. I have decided to leave my job and stay home with my kids full-time. Since my retirement account is not a 401K, it can't be "rolled over". So, I am assuming the school system will have to return my retirement contributions to me, minus what they have contributed and local taxes. Am I correct? If so, will this amount automatically be federally taxed, or will I have to report it on my next tax return? I'm so confused! I don't want to call my employer to ask these questions if I can help it, because I don't want it to sound like I'm more concerned about my money than all they have done for me over the past few years.

What are the qualifications for retirement? What age and what are the conditions for retirement? Can you work when you are retired for money? What are the rules for the state of California?

What is the best way to rollover untaxed retirement accounts ? I am nearing retirement and have about 25k in untaxed money in a retirement account through my employer. I am looking for a way to roll it over tax free and still keep investing it safely but have access to it as needed with no withdrawal penalties. Is there a way ??

Can I still get the retirement benefits of my father denied of him? After 27 years of dedicated service, and an outstanding loyalty award on his 25th year of service, he was administratvely charged of violating certain rules to remove him from office and denied of his retirement benefits. It happened in the early 1970's. Is there hope to prove his worth and claim it for my mother?

What does it take to financially secure your retirement? What actions can be taken at different stages of life to ensure a financially secure retirement? How would you plan to fund your retirement years.

What are some good combined retirement and birthday party ideas? My mom retires Friday after 33 years at her job as a secretary.My nephew's 5th birthday is on the same day. I want to throw them a small, family only party. I want to have my sister, her husband, my niece (age 6), my father and boyfriend attend. I plan on having the party at my parent's house (my apartment is too small) on Friday evening. I want it to be more elegant for my mom but also fun for my nephew. I would like to serve appetizers and cook a special dinner something kid friendly yet elegant (chicken parmesan or salisbury steak). Maybe separate cakes (vanilla for mom, chocolate for nephew), cheap champagne to toast the retirement and sparkling cider to toast the birthday, etc...(this is where you fill in your ideas on things)

how does a retirement account work? how how does my money grow by investing in a retirement account? I know that once I invest money in a retirement account I can't touch it unless it's for emergencies but I would like to know how does my money grow in this type of account and how soon can I see results?

What states do not tax federal retirement income? I receive a retirement annuity from my service in the federal government and would like possibly to move to a state which does not tax the annuity income.

When should I start saving for retirement and how do I do it? I'm 24 yrs old and I've been thinking about opening up a retirement plan. But I dont know what to look for. Any suggestions would be great! I am a freelance interpreter so my employment does not offer one.

What is the best poduct for retirement for someone self employed? I own my own company and I am the only one. I need to the most beneficial product (s) for my retirement.

what are the advantages and disadvantages of opening a retirement plan? I am planning to open a retirement plan but what are the advantages and disadvantages of opening a retirement plan and what is the best company to open an account with?

When you have a retirement account, is it fixed interest to ensure you earn money for retirement? Sorry, might be a stupid question, but I'm 17, and don't know anything about that. I know that you can put part of your retirement investments into more risky funds, but isn't some of it (probably most of it), put somewhere where you WILL make money, since lots of people cannot take a risk with that type of thing??? Please elaborate!!! Thank you!

Moved from Virginia prior to final federal retirement effective date - is last pay subject ot VA tax? 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 VA as the state reflected on it.

Does Participating in a Retirement Program Prevent You from Deducting an IRA Contribution? Years ago, a person who participated in a retirement program could not deduct an IRA contribution. Is that still the case? What kind of retirement program is relevant to this situation (defined benefit, defined contribution, 401k)?

What is the best way to handle retirement funds? I am inquiring for someone. How can you get the most of your money back? The govt wants to take 45% of his retirement fund before he can have it. I've heard of investment companies that can help you bypass this but ofcourse they have their hands on your money and there is a lot of fine print and he isn't very savvy and could easily be takin advantage of. Anyone got a clearcut solution?

How and where do I start a retirement account.? I am 21 , going to school, and living with my parents. I plan to put $200 to start a retirement account and then add roughly $83 a month to make it $1,000 a year for the next few years till I get a better paying job. My question is can I open an online retirement account? Right now my bank is bank of america. I also wanted to know if I started a 401k with my current employer how does that transfer to future employers. I do NOT plan on staying at this job much longer. Until I learn more about stocks and other investment tools I just want to focus on retirement accounts.

What is the best way to save for retirement if I am a stay at home mom. What is a spousal IRA? I quit my job to stay home with my daughter. But i may go back to work some day and would like to use my 401K money to continue saving for retirement in the mean time. What is the best option?

Can a 66-year old individual with no retirement or regular income file for a tax return? Can a 66-year old individual with no retirement or regular income file for a tax return and be eligible for the stimulus package check in May 2008? Thanks.

How many years of service is required from retirement from a County service? If I get a job from a County govt, what's the required minimum number of years of service to be eligible for retirement? 20 years?

What are the basic needed for a good retirement? What are the things needed to be done by a person who've just started his career, in order to secure a good retirement? How much to save, what kind of insurance to follow, taxes to be paid, what must he do? Any suggestions?

What are some ideas to keep faculty of universities engaged after retirement? Sorta like a phased retirement. Or a transition to retirement.

How does a person on disability and force retirement with bad credit get a loan ? I never seem to get ahead with the bills that I have and I only get a limited income and have been on disability and forced retirement since 1987 and up until 2003 was paying on bills that my brother charged in my name and that is when the creditors told me not to pay anything more. During that time, I had to close several accounts that I had in my name and they went to the credit bureaus and now I have bad credit as far as I am concern and need to get a loan to pay off those bills and try to get some brand new clothes and some other items that I need. Anyone with information pleaselet me know some how, by the grace of God I need the help soon. Or I will crazy! I won't go to payday loans because they are way too expensive and the bills I have is not all just every day bills, they are bills that I keep getting phone calls about from the creditors. Wife can't help out at all her money that she gets on her disability goes for her medicine and all the house cleaning and the personal hygine we have to have.

How do you decide whether to save for retirement (which is tax-deferred) or save for a down payment on a home? Buying a home, even with the downturn in the market, is still the most successful way to invest money. But I don't make enough money to both save for much of a down payment and still put much money aside for retirement. So how do I choose where to put what money I don't need to live on?

What is the best way to save for Retirement for Small Business owner? My husband and I own a small business - what is the best option for both of us to save for retirement and why? We are both in our 20's right now.

What is the penatly for taking out early retirement? Does anyone know exactly how much money the government takes from early withdrawl of your retirment funds, I'm in my 40's. I need the cash but want to roll some over too. Let's say I took out 35-60K, Is there any way to get around all the penalty's, Most of this money I get will be for paying debts/creditors, so is there anyway to pay them with out being penalized? Is there a better way to take your retirement funds? Great advise from all so far. Retirement was funded from employer, no contributions on my part. It is actually going to be approx. 160K. But I only want to take 30-60K, sorry if that was mis-leading. I don't own a house, so that will not work. And have not found employment yet, so investing with another company won't work either. I feel the only way to get out of debt and not rely on the government is to take my funds until I find work again. Your right my luck has ran out, at least for the time being, and don't I know it!

unemployed electronic engineer willing to work in a retirement community.how to apply? iam an electronics engineer .i haven't worked in a job for the past 5 years & now iam willing to work in a retirement community.is it possible?how to apply for this?suggest some other jobs suitable for my qualification.

If you never save for retirement, what happens to you? How much SHOULD you invest? I'm only 25, but still at my age, I"ve just gone through lots of schooling, and spent all my money on things like housing, car, vacation, etc, all those frivolous things, and I never really saved, I'm n ot a millionaire, and I don't have a 401K or any type of plan yet. I have lots of family friends, and I live with my partner, who has some of those things, but I'm starting to feel like maybe I should already have some sort of a plan. Personally, I just don't think that far in advance, because I could be dead by then, but just HOW important is saving for retirement. Worst case scenario, if you have no plan, money, friends or family by then, will you end up being a homeless senior citizen, where do you technically end up? I'm not familiar with the programs this country has, if any. I'd like to start planning something, however it makes life SO monotone, everything is a plan. work, schooling, shopping, retirement, it takes the FUN out of living. Blah.

Is it better to use home equity or retirement to temporarily make ends meet? We are married in our 40's with a baby. I am stay at home mom and my husband was laid off. We have two homes and no debt aside from mortgages. Should we use our home equity or cash in retirement to make ends meet until we have another income?

What activities can I plan to make a retirement party memorable? My dad's boss and I are planning a large retirement/55th birthday party for him. We are planning for a large group of about 75 people. It will be a surprise party. Dad is a fisherman, so I've decided to have a fish fry and go with a "gone fishing" theme. I've found plenty of party favors and decorations, but I'd really like to get the guests involved. I think it would be hard to play games with that many people. I'd like to try to have some activities that are fun and funny that will make the party truly memorable. Dad is not a sentimental person, I don't think he'd care too much about a scrapbook and I know he won't watch a videotape. I'd really appreciate any suggestions you can offer! Many thanks.

Can I transfer my Alabama retirement to the florida retirement? I am in the Alabama retirement system, can I transfer it to the Florida retirement system?

How much can I safely withdraw from my retirement savings without running out of money? Is there a formula? 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 continue to invest the remaining balance as I make once-a-year withdrawals.

contributing to retirement plane to reduce taxable income? How does 401K and pre tax IRA work with max contributions for 2008 tax year? I know max 401k is $15,500 (Im only 40yrs). How much can be contributed to an IRA after 15500? How about a non working wife what can she contribute to a retirement plan?