Nov
29
nobleinvestments asked:
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 ??
FRIEDMAN
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 ??
FRIEDMAN
Nov
29
Jumpstart Your Retirement Benefits Application
Filed Under Personal Injury | Comments Off
Jinky Belle Abelardo asked:
Many countries offer state-sponsored retirement benefits, besides those provided by the employers, which are funded by payroll or taxes. In the United States, this is one role of the Social Security Administration or SSA.
One of the most important retirement decisions facing Americans is, “When should I get my Social Security retirement benefits?”
There will come a time for us when we will be looking forward to relax while still enjoying financial security. All workers have to prepare for this period of their lives.
As people age, they will have to consider their options and plan for their future. We all need assurance that when we get old and reached a time when we no longer want to work, or no longer capable of performing our jobs, we can still support ourselves financially.
What offer us financial security at such time are our retirement benefits. We get retirement benefits from our retirement plans. A retirement plan is an arrangement or a formal contract which provides people with an income, possibly a pension, during retirement, when we are no longer earning a steady income from employment.
Retirement benefits are authorized under Title II of the Social Security Act. There are certain requirements needed in order for a worker to be considered eligible to these benefits. A person attains fully insured status when he or she has paid sufficient payroll taxes to Social Security and has worked long enough in a job covered by Social Security system.
An application must be filed with the Social security Administration before an employee may collect his/her retirement benefits. There are several options in applying for these benefits:
• Applying at the local Social Security office
• Applying through phone
• Applying via mail
• Applying online
The amount of retirement benefit payments are based upon several aspects:
• Social Security taxes paid into the Social Security trust fund
• The age of the claimant
• The current earned income of an individual
Benefit payments vary based on when, a person shall claim his or her retirement benefits. Usually, a person may start receiving his or her benefits as soon as he/she is 62, but the full-retirement age comes a few years later than that.
Eligible individuals have their choice whether to have a delayed or early retirement. However, there are consequences in claiming the benefits earlier or later than the full-retirement age. Here are the rules as follows:
• If you decide to retire in your full retirement age, you will collect your full retirement benefits
• If you retire prior to reaching full retirement age, you will receive benefits less than that of what you will have received if you retire later
• If you work past your full retirement age, you will acquire your full retirement benefits regardless of how much you earn
• If you carry on working and decide not to collect your retirement benefits until you become 70, you will get more benefits when you retire
• If you opt not to collect your retirement benefits before reaching full retirement age, you should be sure to file for Medicare as soon as you turn 65.
So in deciding when to collect ones’ retirement benefits, we must consider what option will be more beneficial to us. It is never too early or too late in commencing preparations for our retirement so it is better to jumpstart now.
For commendable and fast track assistance in applying for your retirement benefits, seek the aid of our experienced Social Security attorneys. Just log to our website and learn how to avail of our free case evaluation services.
LUSK
Many countries offer state-sponsored retirement benefits, besides those provided by the employers, which are funded by payroll or taxes. In the United States, this is one role of the Social Security Administration or SSA.
One of the most important retirement decisions facing Americans is, “When should I get my Social Security retirement benefits?”
There will come a time for us when we will be looking forward to relax while still enjoying financial security. All workers have to prepare for this period of their lives.
As people age, they will have to consider their options and plan for their future. We all need assurance that when we get old and reached a time when we no longer want to work, or no longer capable of performing our jobs, we can still support ourselves financially.
What offer us financial security at such time are our retirement benefits. We get retirement benefits from our retirement plans. A retirement plan is an arrangement or a formal contract which provides people with an income, possibly a pension, during retirement, when we are no longer earning a steady income from employment.
Retirement benefits are authorized under Title II of the Social Security Act. There are certain requirements needed in order for a worker to be considered eligible to these benefits. A person attains fully insured status when he or she has paid sufficient payroll taxes to Social Security and has worked long enough in a job covered by Social Security system.
An application must be filed with the Social security Administration before an employee may collect his/her retirement benefits. There are several options in applying for these benefits:
• Applying at the local Social Security office
• Applying through phone
• Applying via mail
• Applying online
The amount of retirement benefit payments are based upon several aspects:
• Social Security taxes paid into the Social Security trust fund
• The age of the claimant
• The current earned income of an individual
Benefit payments vary based on when, a person shall claim his or her retirement benefits. Usually, a person may start receiving his or her benefits as soon as he/she is 62, but the full-retirement age comes a few years later than that.
Eligible individuals have their choice whether to have a delayed or early retirement. However, there are consequences in claiming the benefits earlier or later than the full-retirement age. Here are the rules as follows:
• If you decide to retire in your full retirement age, you will collect your full retirement benefits
• If you retire prior to reaching full retirement age, you will receive benefits less than that of what you will have received if you retire later
• If you work past your full retirement age, you will acquire your full retirement benefits regardless of how much you earn
• If you carry on working and decide not to collect your retirement benefits until you become 70, you will get more benefits when you retire
• If you opt not to collect your retirement benefits before reaching full retirement age, you should be sure to file for Medicare as soon as you turn 65.
So in deciding when to collect ones’ retirement benefits, we must consider what option will be more beneficial to us. It is never too early or too late in commencing preparations for our retirement so it is better to jumpstart now.
For commendable and fast track assistance in applying for your retirement benefits, seek the aid of our experienced Social Security attorneys. Just log to our website and learn how to avail of our free case evaluation services.
LUSK
Nov
27
What retirement plan should an 18 year old start in this economy?
Filed Under Retirement | 3 Comments
Mackenzie asked:
I have budgeted to put $2,000 in my retirement account until the age of 26 and than leave it there until retirement.
I have budgeted to put $2,000 in my retirement account until the age of 26 and than leave it there until retirement.
Any suggestions?
OLDHAM
Nov
26
Do nothing all day.
Filed Under Howto | Comments Off
PalmettoDreamTeam asked:
I do whatever I want all day, everyday. I don’t go to the rat race and have to answer to a stinking boss. You can do this too if you let me show you how. It is not hard. This is the easiest money that I have ever made. I can go away in the middle of the week while you work. It is less crowded too. If you try it, you will love it. Join me. You won’t be disappointed. … StraightLineDownLine Xango “Work from home” retire “make money” “how to get rich”
STUMP
Nov
24
Brett Favre Retirement Speech
Filed Under Sports | 22 Comments
hassaholic asked:
Brett Favre walks away from football. Here’s his parting words. Video via NFL.com/NFL Network Honors for This Video: #5 – Most Discussed (Today) – Sports #16 – Most Viewed (Today) – Sports #43 – Top Favorites (Today) #1 – Top Favorites (Today) – Sports #3 – Top Rated (Today) – Sports #12 – Top Rated (This Week) – Sports #70 – Most Viewed (This Week) – Sports #42 – Top Favorites (This Month) – Sports #58 – Top Rated (This Month) – Sports
LOCKE
Nov
23
Retirement Financial Planning and Retirement Ideas
Filed Under Inheritance | Comments Off
Anthony J Smith asked:
Too soon we get old, and too late we get smart is the old Yiddish proverb. This applies to most people as they do retirement planning. Retirement ideas range from imagining yourself living in a life of luxury, playing golf, taking 9 month vacations, and enjoying life, down to living in a retirement community where your basic needs are taken care of. Failing to plan for your retirement can have very negative consequences on the quality of your retired life.
To do proper retirement financial planning, you should start early ? that’s the “too late smart” part of the proverb. You’re getting older every day ? are you getting smarter? Fortunately, there are retirement books that can help you with this. One of the most important is “401(k) Basics” by Motley Fool publishing. It will steer you into how to make the most of a company 401(k) plan, while taking an unsentimental retirement view ? telling you that there is no fast road to riches, only steady, regular savings and investing will help ensure you against retirement losses.
Your retirement benefits should contain a mix of growth funds early on, wealth preservation funds and income generation tools as you age ? this can be found online through a number of retirement calculators, and will help you plan the day when you can send your company your retirement letters and say “I’ll be on the golf course!” Most retirement calculators are driven by an investing rule called the Rule of 72 ? take 72 and divide it by your rate of return in points (for example, getting 6% on a savings account or CD) and that will tell you how many years it takes for your investment to double. In this case, 72 divided by 6 is 12, meaning that sitting an investment down in a 6% account means it will double in 12 years.
Remember that slow and steady contributions win the day; you can’t rush this later in life. Start early, invest everything you can afford to, and know that your money is working for you in the long term. If you’re eligible for a 401(k) program, you should take it ? it benefits you in multiple ways, from employee matching (which doubles your investment) to being take out of your paycheck before taxes (which is fundamentally giving you a 20-35% increase in the net investment from doing it in post-tax income) to tax deferral on the interest it accrues. A 401(k) is by far and away the best retirement investment vehicle possible.
One thing you should not count on is Social Security; due to changing demographics, we’re going to be disbursing more from Social Security than it takes in in about 5 to 10 years, and the fund will literally run out at the current rate of contributions in thirty years. Presume that you’re on your own and plan accordingly.
BARTON
Too soon we get old, and too late we get smart is the old Yiddish proverb. This applies to most people as they do retirement planning. Retirement ideas range from imagining yourself living in a life of luxury, playing golf, taking 9 month vacations, and enjoying life, down to living in a retirement community where your basic needs are taken care of. Failing to plan for your retirement can have very negative consequences on the quality of your retired life.
To do proper retirement financial planning, you should start early ? that’s the “too late smart” part of the proverb. You’re getting older every day ? are you getting smarter? Fortunately, there are retirement books that can help you with this. One of the most important is “401(k) Basics” by Motley Fool publishing. It will steer you into how to make the most of a company 401(k) plan, while taking an unsentimental retirement view ? telling you that there is no fast road to riches, only steady, regular savings and investing will help ensure you against retirement losses.
Your retirement benefits should contain a mix of growth funds early on, wealth preservation funds and income generation tools as you age ? this can be found online through a number of retirement calculators, and will help you plan the day when you can send your company your retirement letters and say “I’ll be on the golf course!” Most retirement calculators are driven by an investing rule called the Rule of 72 ? take 72 and divide it by your rate of return in points (for example, getting 6% on a savings account or CD) and that will tell you how many years it takes for your investment to double. In this case, 72 divided by 6 is 12, meaning that sitting an investment down in a 6% account means it will double in 12 years.
Remember that slow and steady contributions win the day; you can’t rush this later in life. Start early, invest everything you can afford to, and know that your money is working for you in the long term. If you’re eligible for a 401(k) program, you should take it ? it benefits you in multiple ways, from employee matching (which doubles your investment) to being take out of your paycheck before taxes (which is fundamentally giving you a 20-35% increase in the net investment from doing it in post-tax income) to tax deferral on the interest it accrues. A 401(k) is by far and away the best retirement investment vehicle possible.
One thing you should not count on is Social Security; due to changing demographics, we’re going to be disbursing more from Social Security than it takes in in about 5 to 10 years, and the fund will literally run out at the current rate of contributions in thirty years. Presume that you’re on your own and plan accordingly.
BARTON
Nov
17
Allison B asked:
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)
ABREU
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)
ABREU
Nov
16
A Retirement Career Plan? Gimme A Break!
Filed Under Retirement | Comments Off
PAUL BOWLEY asked:
A retirement career? You gotta be kidding! I’ve got enough on my plate right now without thinking about a retirement career! Just gimme a break!
OK. Let’s say you’re interested in retiring soon. Or you’re just planning the future of your job, career advancement or job search. Here’s an import fact of life. You are about to be impacted by the Boomers.
Baby Boomers are reaching retirement age in record numbers. And this will affect your current job or your retirement plans. I don’t care if you’re a pre-boomer or actually a proud member of the Boomer generation. The Baby Boom is going to impact your job and career!
For example, thanks to improved health care and lifestyle changes, many Boomers will continue to work well past retirement age.
If you are still years away from retirement, this fact will make a difference to your ability to advance your career. The competition just became much tougher. Many employers see a positive impact to their bottom line by retaining long-term, experienced workers.
What’s more, when Boomers do finally decide to retire, employers will have a difficult time finding skilled, experienced employees from a smaller pool of available workers.
Employers realize that increased burdens will be placed on the already stressed Social Security, Medicare and Medicaid systems. Employers will have to become very creative to come up with innovative benefits and compensation strategies.
On the other hand, if you are planning ahead for retirement, your retirement career plan has just handed you another fascinating option. For example, you could consider staying right where you are until you’re ready to stop. But in a retirement mode . . . working part-time . . . or coming back as a consultant or other contract employee.
So, retirement is no longer a stodgy retreat into oblivion where the only thing you have left is reading the paper and watching the news. With an occasional visit from the grandkids.
Of course, there’s always the marvelous world of creative loafing, or traveling or vacationing. But, now there’s also the rewarding world of continuing employment. Baby Boomers have provided options for you that were unheard of just a few years ago.
If you thought that it’s way too soon to put together a retirement career plan, you’re wrong! It’s never too soon. At least if you want to take advantage of the Boomer employment options. When you take a look ahead at the expanding retirement career options you’ll be delighted to discover the many wonderful ways to enjoy employment or as long as you want.
So whether a retirement decision is imminent or you’re dead serious about getting ahead in your career, the secret to your success is to plan ahead. That means staying informed about the constantly evolving job and career marketplace.
OCASIO
A retirement career? You gotta be kidding! I’ve got enough on my plate right now without thinking about a retirement career! Just gimme a break!
OK. Let’s say you’re interested in retiring soon. Or you’re just planning the future of your job, career advancement or job search. Here’s an import fact of life. You are about to be impacted by the Boomers.
Baby Boomers are reaching retirement age in record numbers. And this will affect your current job or your retirement plans. I don’t care if you’re a pre-boomer or actually a proud member of the Boomer generation. The Baby Boom is going to impact your job and career!
For example, thanks to improved health care and lifestyle changes, many Boomers will continue to work well past retirement age.
If you are still years away from retirement, this fact will make a difference to your ability to advance your career. The competition just became much tougher. Many employers see a positive impact to their bottom line by retaining long-term, experienced workers.
What’s more, when Boomers do finally decide to retire, employers will have a difficult time finding skilled, experienced employees from a smaller pool of available workers.
Employers realize that increased burdens will be placed on the already stressed Social Security, Medicare and Medicaid systems. Employers will have to become very creative to come up with innovative benefits and compensation strategies.
On the other hand, if you are planning ahead for retirement, your retirement career plan has just handed you another fascinating option. For example, you could consider staying right where you are until you’re ready to stop. But in a retirement mode . . . working part-time . . . or coming back as a consultant or other contract employee.
So, retirement is no longer a stodgy retreat into oblivion where the only thing you have left is reading the paper and watching the news. With an occasional visit from the grandkids.
Of course, there’s always the marvelous world of creative loafing, or traveling or vacationing. But, now there’s also the rewarding world of continuing employment. Baby Boomers have provided options for you that were unheard of just a few years ago.
If you thought that it’s way too soon to put together a retirement career plan, you’re wrong! It’s never too soon. At least if you want to take advantage of the Boomer employment options. When you take a look ahead at the expanding retirement career options you’ll be delighted to discover the many wonderful ways to enjoy employment or as long as you want.
So whether a retirement decision is imminent or you’re dead serious about getting ahead in your career, the secret to your success is to plan ahead. That means staying informed about the constantly evolving job and career marketplace.
OCASIO
Nov
13
Finance Help: Reassessing Your Retirement Game Plan
Filed Under Finale | Comments Off
Sam Williams asked:
The final quarter of the 20th century (especially the second part of this period) has seen the US economy being hit by one of worst phases of recession since the period of Great Depression (in the 1930s). Stock markets have crashed during this period, with an implosion of housing values and rates of returns from bonds being drastically lowered. All these have adversely affected the retirement plans of individuals (those who are planning for retirement and those who have already retired). Hiring a competent financial planner who is also an expert retirement advisor is, hence, of utmost importance to keep the retirement plans stable. A financial advisor can help his/her clients assess the effect of the economic downturn on retirement plans, and take steps accordingly.
A retirement planner generally recommends conservative measures to help clients survive the hostile impact of recession on retirement plans. Generally, individuals have pre-determined retirement plans that they plan to follow. However, once a depression sets in the economy, they need to re-evaluate their retirement plans, and modify them according to the market conditions. Finding a financial planner comes in handy during this period, for expert assessment and advice on retirement planning. With numerous financial planners offering their services, individuals need to wonder about how to find a financial planner either.
Recessionary market conditions have several adverse effects on retirement planning. Some of such effects, as would be pointed out by any expert retirement advisor, are:
a) Returns on stocks and bonds: The rates of return as well as the yields from them go down by significant amounts during a recession. During these periods, investment in high-risk financial instruments, hence, should be avoided. In order to keep plans for retirement stable, the contributions to retirement funds should be increased during a phase of depression,
b) Timing one’s retirement: Faced with recessionary conditions, individuals may tend to push back their dates of retirement. This may not be a sensible decision, particularly if the recession lasts for a lengthy time-period. Instead, transferring funds and assets to fixed, secure investments, selling off housing property makes more financial sense. Retirement dates should not be pushed back either,
c) Reduction in spending levels: Faced with acute recessionary forces, the US Federal Reserve has been forced to significantly cut down on the key interest rates. This has resulted in an upward spiral in prices of almost all products, denting any pre-determined retirement budgets one might have had. In such a situation, the only prudent option seems to be a significant reduction in consumption and spending levels. This would help to keep the retirement budgets more or less intact. Inflationary conditions, which are on the rise during these periods, can also be tackled in an effective manner in this way.
Retirement plans are, broadly speaking, significantly affected by a recession in the market. However, it is possible to minimize, if not totally eliminate, the impacts of depression on one’s retirement plan. For this, one needs to hire a top retirement planner, and follow the above-mentioned tips. A retirement advisor can surely help his/her client maintain a well-designed a prudent retirement budget.
CASILLAS
The final quarter of the 20th century (especially the second part of this period) has seen the US economy being hit by one of worst phases of recession since the period of Great Depression (in the 1930s). Stock markets have crashed during this period, with an implosion of housing values and rates of returns from bonds being drastically lowered. All these have adversely affected the retirement plans of individuals (those who are planning for retirement and those who have already retired). Hiring a competent financial planner who is also an expert retirement advisor is, hence, of utmost importance to keep the retirement plans stable. A financial advisor can help his/her clients assess the effect of the economic downturn on retirement plans, and take steps accordingly.
A retirement planner generally recommends conservative measures to help clients survive the hostile impact of recession on retirement plans. Generally, individuals have pre-determined retirement plans that they plan to follow. However, once a depression sets in the economy, they need to re-evaluate their retirement plans, and modify them according to the market conditions. Finding a financial planner comes in handy during this period, for expert assessment and advice on retirement planning. With numerous financial planners offering their services, individuals need to wonder about how to find a financial planner either.
Recessionary market conditions have several adverse effects on retirement planning. Some of such effects, as would be pointed out by any expert retirement advisor, are:
a) Returns on stocks and bonds: The rates of return as well as the yields from them go down by significant amounts during a recession. During these periods, investment in high-risk financial instruments, hence, should be avoided. In order to keep plans for retirement stable, the contributions to retirement funds should be increased during a phase of depression,
b) Timing one’s retirement: Faced with recessionary conditions, individuals may tend to push back their dates of retirement. This may not be a sensible decision, particularly if the recession lasts for a lengthy time-period. Instead, transferring funds and assets to fixed, secure investments, selling off housing property makes more financial sense. Retirement dates should not be pushed back either,
c) Reduction in spending levels: Faced with acute recessionary forces, the US Federal Reserve has been forced to significantly cut down on the key interest rates. This has resulted in an upward spiral in prices of almost all products, denting any pre-determined retirement budgets one might have had. In such a situation, the only prudent option seems to be a significant reduction in consumption and spending levels. This would help to keep the retirement budgets more or less intact. Inflationary conditions, which are on the rise during these periods, can also be tackled in an effective manner in this way.
Retirement plans are, broadly speaking, significantly affected by a recession in the market. However, it is possible to minimize, if not totally eliminate, the impacts of depression on one’s retirement plan. For this, one needs to hire a top retirement planner, and follow the above-mentioned tips. A retirement advisor can surely help his/her client maintain a well-designed a prudent retirement budget.
CASILLAS
Nov
6
How does retirement for reservists work?
Filed Under Retirement | 3 Comments
airforcewolf16 asked:
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.
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!
LEVINE