Get Answers About Retirement Income

How to Prepare a Retirement Plan

More than 60 percent are planning to rely primarily on Social Security for their retirement income needs. The truth is that it is never too early to begin building a nest egg by learning how to prepare a retirement...

Answered 11/7/2011 | Answer This | 1 Answer | See Question

Retirement income tax

If you are retired, and over 65 years old, do you still have to file income tax each year if your only income is social security, and retirement check?

Answered 10/13/2011 | Answer This | 2 Answers | See Question

VA Disability Compensation

On Dec 10 I have been awarded a 30% Military Service disability from the VA. The effective date is May 1. I already received my 1099-R from the Depart. of Defense and it does not reflect the amount thats supposed...

Answered 9/27/2011 | Answer This | 2 Answers | See Question

Is a Reverse Mortgage a good idea for me?

I am a 63 yr old batchelor; I retired 17 months ago. My credit score is around 820. I purchased a 4 yr old home for $146,000 in Dec. 2005 putting $60,000 down on a 30 yr, fixed, 5.625% conv. loan. I had hoped that...

Answered 5/9/2011 | Answer This | 6 Answers | See Question

Out of state government pension taxes

I relocating to Arizona in the near future. I have a state teacher's pension in Michigan. It totals $37,916 per year. I understand that all out of state government pensions are fully taxed in Arizona....

Answered 1/21/2011 | Answer This | 3 Answers | See Question

Taxable social security

I am 72 yrs of age and I work part time and receive taxable retirement income. It is my understanding that there is not limit on my earnings before I my social secuirty is taxed. Thanks Wanda

Answered 1/5/2011 | Answer This | 1 Answer | See Question

Retirement

I am 67 years old and retired on December 31st from my self employed consulting business. Over the years I have saved for retirement and have approximately $200,000 in traditional IRA accounts and $100,000 in...

Answered 12/26/2010 | Answer This | 2 Answers | See Question

Can I get my child support obligation reduced when I retire?

I have served twenty five years in corrections and am eligible to retire from a very stressful job. My current salary is 80K a year, and my retirement income will be 60K annual pension which I can receive the...

Answered 12/22/2010 | Answer This | 4 Answers | See Question

What is the best retirement income planner software?

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Asked 8/15/2010 | Answer This | 0 Answers | See Question

Double taxation? Help

I have income in Germany from a Local company, and a US Army retirement income from the US. The IRS adds my German taxed income on the US Army retiremen income and therefore taxes my US Army income twice as much...

Answered 8/13/2010 | Answer This | 3 Answers | See Question

Do i pay fica taxes on 401k/retirement account income? what percentage?

Answered 8/8/2007 | View Answer | See Question

Once somebody retires, how do they start getting monthly income from their retirement plan?(401k, ira, etc.)?

Who do they consult, when will they start getting the money, is it all a lump sum or monthly installments? Answers of that nature

Answered 10/13/2007 | View Answer | See Question

What will be my (income) tax rate for 401k withdrawal after retirement?

Let's say I'm 65 years old now, not yet retiring. My current income is about $200K, so my income tax rate is the highest (state & federal.) In a few years, I will retire and plan to withdraw about $50K...

Answered 7/5/2007 | View Answer | See Question

Looking ahead to retirement, you sign up for automatic savings in a fixed-income 401k plan that pays 6%?

per year compounded annually. You plan to invest $3500 at the end of each year for the next 20 years. How much will your account have in it at the end of 20 years? $130,520 $127,207 $128,750 $130,048

Answered 10/17/2007 | View Answer | See Question

How can a middle aged person best reach a desired income for retirement other than company match 401k's.?

I am looking to reach a goal of atleast greater than 500,000. dollars by age 55 and i am 36 yrs. of age now.I am kind of familiar with retirement calculators,but am confident that there are some individuals that...

Answered 7/1/2006 | View Answer | See Question

Retirement planning: what do i do with my 401k and ira?

Fact: My wife & I will retire at 62, won't live in USA, & will have 3 types of securities-related incomes: my 401k + IRA & her Roth IRA. We have an after-tax-dollars joint mutual fund account. When we reach...

Answered 2/7/2008 | View Answer | See Question

When calculating how much income is needed at retirement,should money be added for taxes on 401k withdrawal?

I have my current monthly budget, I take out the P&I from my mortgage, take out student loans and add $1300 for health benefits then compund the final amount at 3.15% a year until I retire. Should I then take...

Answered 3/9/2007 | View Answer | See Question

What percent of your income do you contribute to your 401k or retirement plan?

Me 36%

Answered 6/16/2007 | View Answer | See Question

I just opened a 401k in oct and have a retirement plan. do these count as 'taxable interest income?' help!

i am trying to file 2007 taxes and i don't think that 401k's and retirement plans are taxable but i tried using some tax calculators and they were asking me if i had a 401k etc so i got confused. this is...

Answered 1/29/2008 | View Answer | See Question