Retirement instead of mortgage? My wife and I (both 30) are under contract for our first house. I’m making an estimate on how much we have left after paying mortgage, our expenses (utilities, food, auto insurance, etc.), and setting aside a little bit of fun money (so we don’t go insane), and I’m estimating we will have about 1-2k/month left. We already have an emergency savin…

Looking for a specific retirement calculator A few years ago I found a calculator that I think was part of a financial advisor site. The tool was free and if you used it you got a discount for advising services. You could also link your accounts and it would run estimates based on what you saved so far, your age, age of retirement, contributions, etc… It also gave the results like kind o…

Retirement plan for MIL Retirement plan for MIL My mother-in-law (MIL) (age 59, single, and in good health) currently works a low paying job (nearly full time), I think she makes around $17-20/hour. She currently has no savings whatsoever and lives with her mother (and pays no living expenses besides food). Her mother owns the home, however it is reverse-mortgaged, the…

Should I lower my retirement contributions? My work is lowering their match from 200% of 5% to 100% of 3%. I am currently giving 10% and my employer was giving another 10%. But it just changed to 3%. I’m 46f and widowed. I think I can lower my contribution to 3% just to get the match because I think I’m doing good in retirement savings. I inherited my husbands accounts last year when he p…

Parents have no retirement savings and waived Social Security My parents are in their mid 50s and I am in my mid 20s. A joke last night about my mother rotating between all of my siblings homes when she retired brought this up. Apparently my Father waived his social security a long time ago, as he is essentially self employed. My mom didn’t start working until she was almost 40 and says neither of them are…

Projections on retirement savings vary widely I am 36 and sadly just getting a grip on my finances. I am trying to plan what I need/want to have in retirement but the projections I see vary so widely. One says I should aim to have 10x my salary in retirement by age 70 and another says I need $4 million. How do I know what is right? submitted by /u/kdodd516

Am I on track for retirement? I’m almost 35. Gross pay is 92k. I’m putting in 12% traditional, 2% Roth. Company match’s 6% traditional. When I started working at 22 I didn’t put in as much as I should have and didn’t make nearly as much as I do now. 401k/Roth sit at a total of about 150k. I do a 1-2% increase annually in addition to any raise percentages. submitted by …

Retirement Advice w/Roth IRA? So I opened a Fidelity account, started a Roth IRA, and bought FXAIX recently (which I’ve heard is “fee free” – please correct me if I’m wrong), and plan on buying QQQ as well during market hours, but I’ve heard fees can be quite high, and not sure where I can find info on it. For example, I saw that if you give up a 2% fee on a 7% return, you’v…

How to cash in retirement investments Let’s say I already have a decent amount invested in retirement, an amount I haven’t touched (haven’t removed any value, but have kept contributing to) for decades. Now I want to ‘cash in’ and enjoy my life. What’s the exit strategy for this? If I take out everything in one go, then my money stops making money for me. If I cash in just the profi…

Are my wife and I on track for early retirement? Hey everyone! Hope you’re doing great. Just wanted to share our financial situation and see if you think I’m on track for a decent retirement. My wife and I are both 29. My wife is a stay at home mom and I’m a full time firefighter. We have around $120k between our Roth IRA’s ($90k in mine and $30k in hers). I’m maxing out our HSA account and I…

All my retirement is currently in vanguard retirement funds (VLXVX), should that change? I’m 28 and all of my retirement savings are in Vanguard retirement funds (VLXVX). I also have a 20k savings acct with 4.6 APY. Should I move some of that around and invest in other things? What would you recommend? submitted by /u/Otherwise_Put_6798

TIAA Vs Voya Retirement Plans Hi everyone! I’m 23, and just about to hit a year at my job, so I can start contributing to my retirement plant (you have to wait a year to start). I have a fantastic match here. I contribute 5.5%, and my employer contributes 8.5%. All of that is mandatory, and you can’t change it. I can choose between two institutions for my 403(b): TIAA and Vo…

Parents Retirement Conversation Hi all, Does anyone have tips on how to initiate conversations about retirement with your parents? My fear is my dad is retiring to early (65, full pension), but as I understand it pensions can still run out?? My irrational fear is that 20 years from now, I’ll be taking him in because he has no money. It’s a sensitive topic. Would love some adv…

Retirement Planning with a pension Throwaway account. I recently switched jobs and am now examining my retirement plans. Here are my stats. 50 years old living in the USA. Plan to retire in SE Asia in early to mid 60s. I have spent most of my career as a high school teacher. When I turn 62, I will receive a defined benefit retirement of 27,900. After 62, I will receive an annual …

Retirement Annuity? Worth it? I just watched a show at a Hotel. It was “Money for Life” and it talked about Annuities for retirement saving. I’m only 23 years old, but my mom is getting on in years and she has nothing ($0) in retirement! Are annuities worth looking into? Are they business based or government based? Any bad experiences? submitted by /u/Aliraj123

Am I still behind in retirement saving? I am 47 years old and now a tenured college professor. When my family immigrated to the USA in 2017, I began saving for my 403(b). My wife is a homemaker with no income, and we have an 11-year-old child. Currently, my retirement savings total $240,000, up from $130,000 six months ago. My wife’s retirement savings amount to $30,000. Combined, we …

In wonder if retirement is a possibility? I have maybe $1,000 to my name, that is excruciatingly obvious that amount is not enough to retire on. I’m 40 and I plan on retiring at 70. I decided to have fun when I was young. Since I’m not young at all anymore, my youth is completely gone. Now it’s time to stop having fun and save as much as possible. My income fluctuates, it isn’t a steady…

Starting to save for retirement in late 30s? Hey everyone, I tried this out before and haven’t gotten any responses. Figured I’d try again. I’ll keep the details about me short. I’m just hoping to hear if it’s possible to retire when you only started saving in your late 30s. Stories of people who found success in their late 30s / early 40s is also appreciated. I went back to college and a…

SEP IRA Retirement Planning Hello, Looking for some help understanding how to plan for the use of my company’s SEP IRA and its impact on my retirement planning. I make $90,000 and contribute 10% into a Roth IRA/retirement brokerage account on an annual basis. My firm also contributes 10% into an IRA SEP. How should I think about these contribution amounts? I’m familiar wi…

Retirement savings by age 50yo I was trying to find out how much I should have saved for retirement by age 50yo. All I could find was “3-6 times your salary”. Am I misunderstanding what they mean by this – because this seems awfully low for that age. If someone made $50k/yr, they would only need $150k+ by age 50yo? ETA: I’m in good health right now and have medical insuran…