Can I retire at 55?
Ok I'm 22 and make 42k a year with a 2-3% raise a year. I am currently contributing 10% of each paycheck to 401k since employer matches up to 10%. Starting January 1st 2015 I am going up bump it up to the max my employer will allow, which is 25% from each paycheck in hopes that I will be able to retire at age 55. (Assuming I don't quit or get laid off in the next 33 years at my employer.). Assuming I get a 4%-8% rate of return, is $1,255,000 to $2,418,000 enough to live on after taxes and inflation until I'm 75-80 years old? Also can I withdraw penalty free at 55 if I take distributions until I'm 59 1/2 or how does that work? Thanks.
What is a 403(b) retirement plan and how does it work?
it is the same as the 401K except it is for non profit organizations!!!
I'm 54 and have no retirement savings. Am I in trouble?
YES…and NoYou have definitely missed out on the benefit of compound growth, so now you will have to focus on saving.In order to accurately answer this question for you, you will need to know the following:How much each year you can save for retirement?When do you want to retire?What are your expenses?What is your retirement income?When are you going to die?When you have this information you can determine if you will be retiring without stress, or if you will be living on ketchup and crackers. While minimalism might be a lofty goal for some, you don’t want it to be a mandatory choice that is made for you.You can use these 3 methods of calculating your retirement savings and how to reach your goal, The Definitive Retirement Savings Guide.You should also consider the need for an Emergency Fund. These are funds that you keep indefinitely in case of emergencies. Most people do not keep this type of savings account. If you don’t have one, then you could be in worse shape if an emergency comes up.If you have not started saving until 54 years old, then you are in good company ( or rather bad company). According to the GAO, the median savings amount is $5,000, with 41% of individuals having ZERO in savings. Yes, 41% of the population have nothing saved for retirement.The short answer is that yes, it is possible that you could be ok, but it will require that you focus all your efforts on saving up for retirement and making sure you have low enough expenses that you can live forever on your retirement savings.I hope you found this helpfulKirkInnovative Advisory Group - Wealth Management
Can anyone tell me how to get into the wells fargo retirement website?
I have some problems getting in i have the same website at work but when i try to get in from a outside computer it wont take my name or password. so how can i do this and how do i get a pass-code ?
Will LeBron James retire next year?
He signed a 4-year contract with the Los Angeles Lakers last year so no, he won’t retire next year.And the emotional side: he said multiple times that he wants to play with his (oldest) son in the NBA and it would be his greatest accomplishment. And his oldest son is 14 year old so he still got a long way to go on the road to the NBA. And I think LeBron really means it that he wants to play with his son in the NBA.
Jeovah's Witnesses: I had a client ask about giving a retirement party to a co worker who is a Witness>>>?
There is no Biblical reason not to hold a retirement party for your friend, you will just be thanking him for all the hard work that he has put in over the years. Go for it, I'm sure he would be happy to see that his work friends care for him.