When should I take SS? (marriage, anniversary, federal, salary)
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does your 401k plan allow for in service distributions ?
most don’t allow money to be taken until you are no longer working there.
also i have no idea how these leveraged 60/40 will do so i personally don’t recommend them other then for experimenting.
these etfs are to new
Yes, if you are 59 1/2. You just have to pay taxes on it if it is a withdrawal. You can also do a rollover.
I realize about that fund MJ. That's likely why I am attracted to it. I have a gambling DNA/gene. What else is on that menu of yours that uses leverage or high stakes?
Yes, if you are 59 1/2. You just have to pay taxes on it if it is a withdrawal. You can also do a rollover.
I realize about that fund MJ. That's likely why I am attracted to it. I have a gambling DNA/gene. What else is on that menu of yours that uses leverage or high stakes?
i had to quit to get mine …i cleaned it out 2x .
once when i retired , then i started a new one when i was doing a day a week . then i took it a second time when i thought is was done last june but since got drafted back in to action
i had the option of starting a 3rd time and throwing my check in but i am taking the pay check now .
much rather have it in my ira where i can have it invested the way i want .
plus while we have a pretty low cost 401k , the same vanguard s&p 500 fund has an expense ratio of .52% vs in my ira where it is .03
i had to quit to get mine …i cleaned it out 2x .
once when i retired , then i started a new one when i was doing a day a week . then i took it a second time when i thought is was done last june but since got drafted back in to action
i had the option of starting a 3rd time and throwing my check in but i am taking the pay check now .
much rather have it in my ira where i can have it invested the way i want .
plus while we have a pretty low cost 401k , the same vanguard s&p 500 fund has an expense ratio of .52% vs in my ira where it is .03
With my background in some ways it's better locked up. But, I have had my Fidelity accounts for decades and I know how easy it is it to call Fidelity and have them process rollovers.
The only part I could not rollover is the employer contributions. Plus, I am unsure of other limitations on the amount of the rollover.
Mathjak, if they need you so desperately, they should have been giving you equity / a piece of the action of that business.
When I talk about delaying SS I do not mean that I am still working. I just mean I am delaying taking it. My plan is 5 more years and retiring around 66 (mostly because I need to buy shxt like a roof, a new or newish car, another round of a/c, furnace, etc.).
working longer and delaying ss is the silver bullet to an underfunded retirement.
one isn’t spending down
they are still adding to retirement money
they are decreasing the amount of time they need to support themselves on what they have as they get older and work longer
social security amounts are growing .
so working longer is a big plus to helping an underfunded retirement .
it is retiring earlier and delaying where things get murky ,since one needs to spend down their own money to live that could have stayed or be invested , there can be thousands in spousal benefits unable to be obtained until they file , there can be increased medicare premiums from no hold harmless .
so there is a lot more involved when not working and retiring earlier and delaying may not be the clear cut winner
With my background in some ways it's better locked up. But, I have had my Fidelity accounts for decades and I know how easy it is it to call Fidelity and have them process rollovers.
The only part I could not rollover is the employer contributions. Plus, I am unsure of other limitations on the amount of the rollover.
Mathjak, if they need you so desperately, they should have been giving you equity / a piece of the action of that business.
they just pay me well to help them , there is no chance of any equity .it is a 170 million dollar company with 350 people owned by one man and now his kids .
but the main thing is i enjoy it … i have lots of work friends and can work as much or as little as i want .
i have been doing two days lately … next week it is 3 days since people are off, so pretty much my wife controls how many days i do based on the weather . if it’s nasty or to cold to be out she lets me go in .
so i have no real schedule which is great
i love the money coming in from the two or 3 days as it covers most of our weekly bills without spending down much from our own money.
i can do this forever as long as i am healthy enough , as i do enjoy what i do
so having a side hustle in retirement that you enjoy can be a big plus
working longer and delaying ss is the silver bullet to an underfunded retirement.
one isn’t spending down
they are still adding to retirement money
they are decreasing the amount of time they need to support themselves on what they have as they get older and work longer
social security amounts are growing .
so working longer is a big plus to helping an underfunded retirement .
it is retiring earlier and delaying where things get murky ,since one needs to spend down their own money to live that could have stayed or be invested , there can be thousands in spousal benefits unable to be obtained until they file , their can be increased medicare premiums from no hold harmless .
so there is a lot more involved when not working and retiring earlier and delaying may not be the clear cut winner
If I had continued my prior strategy with my investing instead of going crazy the way I did I would be pretty set right now (sigh)! I also had leave without pay for a couple of years (not all at once) which was also a big set back. I got run over by a truck (which meant my career is not exactly what it should have been the last 18 years). I married wrong and was divorced. I did not get a degree until I was 35 (so, got a late start in my career). I have the kind of work where it is kind of hard to get people (there's a shortage).
I am not considering "retiring early" unless something happens. Even at that I do have a private disability policy for 'own occupation' where I would retain my current income for at least two years (enough time to transition). I do have some risk because my job needs to be face to face (even travel) but, they have worked with me (with my handicap). They may help me move to a position that is more of a permanent WFH (that job could make it real easy to stay forever and a day). But, it is a powder puff job compared to what I do (and they need me to do what I do). So, we'll see what happens with that.
I am 61 1/2 now and the earliest I anticipate retiring is 66. I don't think that is considered "early retirement."
Like I said, if I retire at 66 or 67 I could Easily delay Social Security to 69 or 70. And, you can change your mind on that any day. I understand that does not work for others. Since I am single I can do whatever I want.
Yes, I know. It's well documented. The last 5 years of work are the most critical.
we realized the other day that even though i took about 3 months off this year and didn’t work at all , between ss , her small pension and my part time work we had 115k come in this year ..
we realized the other day that even though i took about 3 months off this year and didn’t work at all , between ss , her small pension and my part time work we had 115k come in this year ..
that was crazy
Yeah, that's the thing is I could take my pension and work elsewhere (better if I wait six months to 62). But, not being a couple for the last 32 years has been a massive disadvantage. I really lose track of how many ways I F'd up in life. I was never focused on money either.
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