Advice for Underfunded Retirement Asking for some advice for my mom. She is 58 and extremely underfunded for retirement. She makes so little right now that she isn’t able to compensate for being underfunded by putting more in. HOWEVER, she is receiving her dispersement from her late grandmother’s estate to the tune of about $70k. We are trying to decide what the best use of tha…

401K suggestion for growth and retirement accounts Hi I’m 33 yr old, have about 48K in my 401K with my previous employer, and 10K with my current employer, what is the best strategy to grow my retirement fund? Should I rollover my 401k to my new employer 401K or should I open a low cost IRA account? Please advice submitted by /u/vinn0103

Retirement planning path Hello, I’m in the US and in my mid 30s and looking to start taking retirement planning seriously. I have put some in a 401ks through various employers but it’s all spread out. My bank offers financial planning / retirement planning, but they charge 1% fee and use LPL Financial which seems like it has bad reviews. Am I better to put my trust into…

Fidelity retirement – what to do with funds For retirement monthly I contribute $1000 to a HYSA, max out my ROTH IRA annually, and contribute 11% to 403b. I’m really new to retirement savings, I more so have questions with the Roth IRA. Should I be investing the Roth IRA funds? Sorry if that’s a naive question, no one has really educated me on retirement so I’ve just been saving the best …

Retirement fund and investing Hi. Please judge my investing and retirement fund allocation. I make 65K at 27 years old in a high cost of living city. My job matches up to 5.5% to traditional 401k only, so i contribute 6% since there is no option of 5.5%. I think I read it has higher fees so I only do the minimum to get the free match. The only option in investments are targe…

Retirement & savings advice So admittedly I do not know a ton about finances. I guess I am looking for some guidance and reassurance that financially I’m on course to retire on time and I’m not making any big mistakes that could cost me in the future. I am a 34M and went through a divorce last year. I have two small children, the ex and I each claim 1. There is no alimony …

Why is 15% recommended for retirement contributions? It seems like it’s the magic number on everywhere I read submitted by /u/sepasi_

Student loans or retirement Wife and I are in our mid-30’s and have been married for 10 years, have a two year old and another one on the way. Bought a house right before the pandemic in a MCOL area ($2200/month for 30 years). Combined income: $160,000/year Combined retirement: $130,000 ($40k in Roth IRA, $90k in 401k) Current 592 for kid(s) balance: $15k Student loans: …

How to aggressively save for retirement? So, this is incredibly shameful for me to admit, but I am in my early 30’s and have nothing saved for retirement. I was working under the table until a few years ago and have been doing short-term jobs since then, which means I never got a 401k started at any of them. It’s still hard to talk about but I didn’t even open an IRA while working unde…

Is this a good retirement spread? I’m 31 now. I want to “soft” retire at 45-50. Aka be able to get out of my current career and get a lower paying job that covers the expenses and is easier, but have enough saved up that the interest can take my retirement to over 1.5 mil by 59. I may move laterally to a similar paying career and continue saving the same but want to be conserv…

Inheritance and retirement advice So hubby is coming into about 150k. Not sure yet of total as probate is just being finalized. We will see a financial advisor but I wanted to get some general insight from the community. We’re in our 50’s. Still have a mortgage on both main residence and investment property. We have a very small TFSA. Another high interest account that isn’t hig…

How bad off am I for retirement? I am 45 and have been bad with money and saving/investing but trying to right the ship. However I know I’m pretty screwed. Here are my stats- Income- $95k IRA- $14K; maxed out for 2024 401k- $42k; will be about $8-10k short of max for 2024 Savings- $60k in hysa I rent paying $1500, no other debts. Would like to get a house, but don’t see it hap…

Advice on retirement and divorce I’m going through a divorce right now and hoping for a little advice. My wife does not want our home and I plan on buying out her share of the equity. I do owe her a small portion of my retirement funds but she is willing to offset this with some of the property we have to divide up. However, I need to come up with $20k for her share of the home…

Should my wife start a retirement account? Trying to figure out if it makes sense for my self-employed wife to open a retirement account. Rough stats as follows: Ages: 35-40 My TSP (max contribution): ~$400,000 Vanguard ETFs: ~$200,000 Emergency Fund: $25,000 No car payments. We owe ~$270k on our home but have a 2.8% rate so we’re just paying our monthly’s. Mortgage is ~$1800/mo. We have…

Rollover Retirement? I recently switched states for my job (teacher). In my old state I have roughly $49,000 contributed to my retirement (after 9 years). My new state will not let me roll it over to their retirement system. So what do I do with it? It is accruing interest, but it’s obviously not getting a monthly contribution from me or an employer. I can take it…

Unsure on how to balance my savings / retirement I’m sure this question has been asked a number of times here. I’ve been struggling with this for the past couple of years, and i’m starting to become restless over his topic. Some background. I’m 25 in a hcol making 150k annually. My net worth is around 270k. 140k is locked up in retirement, 25k in company ESPP, and the rest in an HYSA. My bigg…

401k vs Roth 401k employee retirement I make around 109k a year base pay with 30k worth of bonuses so 24% tax bracket near the end of the year. At age 26 should I be putting 12% into Roth or 401k. I feel that my portfolio has a lot of room to grow which makes me want to lean towards Roth due to my age and compound interest. Am I wrong to think this way? Let’s hear some opinions dow…

Retirement Account Question Thanks in advance for any help. I am looking for basic finance/tax advice here – I have 3 work retirement accounts: 2 from previous jobs and 1 from my current job. The 2 old accounts are rollover 401ks. I’d like to consolidate them all into my current employer-sponsored account, and I have a couple questions. Is this a good idea? If so, what p…

Retirement accounts after marriage Hi everyone! I am looking into how to best manage my fiancé and I’s money after tying the knot. We are in the process of getting a pre-nup that will ensure that our pre-martial assets remain ours in case of divorce, but we plan to fully combine marital assets. The thing is, I have about $55,000 in retirement currently and I contribute heavily w…

Withdrawing from 401k at retirement When withdrawing from 401k, do you have the option to pay taxes at the time of withdrawal vs when you file taxes? For example i want to take out money and not pay tax but pay the tax when I do my tax return. submitted by /u/Psa0967