How To Finance Retirement Knowledge Base
Finance retirement question important? Question Details: Your father intends to retire in 4 years. He expects to live for 12 years after he retires. He curently has $35,000 in his investment account. He projects that he will require $15,000 per year during his retirement years, starting one year after he retires. How much would he have to save in each of the next 4 years so that he will have enough money to fund his retirement? He expects to earn an average annual rate of return of 7% per year. Thanks for any help
Retirement finance question? You are planning to retire in twenty years. You'll live ten years after retirement. You want to be able to draw out of your savings at the rate of $10,000 per year. How much would you have to pay in equal annual deposits until retirement to meet your objectives? Assume interest remains at 9%. For a class so please explain how to figure this. A formula would be nice. Thanks.
What does your retirement / finances look like compared to mine? I've worked really hard on straightening out my finances over the last two years. I just wanted to see how my approach compares to others. The personal finance sites make it seem like everyone is maxing everything out: My wife and I contribute about 28,000 into our 401K's each year and we max out our IRA's (8,000) each year. We might have trouble on the IRA in 2007 because of income limits. It that happens, I'm planning on just opening a mutual fund account on the side. So far, we have @ 45K. We're both 27. Besides that, we have a mortgage and car payments. Everything else is paid and I plan on starting a separate mutual fund for the kids college (I don't like all the rules associated with the college savings plans).
Celebrity Retirement - Finance Question? Brad Pitt and Angelina Jolie are thinking about retiring. They will both retire in 20 years. Brad will live for 23 years after he retires and Angelina will live for 33 years after she retires. While they are both alive during retirement, they want to have a total steady income of $5,000 per month. This income will be paid at the end of the month. After Brad dies, Angelina wishes to receive an income of $3,000 per month. This income will be paid at the end of the month as well. In addition, Brad wishes to give their son, Shiloh, $100,000 when he dies. When Angelina dies, she wishes to leave $25,000 per year, in perpetuity to Ryerson University, in a scholarship fund. The scholarship fund will earn 5% annual percentage rate (APR) in perpetuity. Brad and Angelina will earn 6% APR, compounded semi-annually on their investment during retirement. Currently Brad and Angelina have $10,000 in the bank. The $10,000 earns 10.4% APR compounded quarterly for the next 20 years. a) Draw a detailed timeline and label all components to illustrate Brad and Angelina’s retirement plan. b) Calculate the EAR and the EPR of (i) 6% APR compounded semi-annually and (ii) 10.4% APR compounded quarterly. c) Will Brad and Angelina have enough money to fund their retirement, the gift for Shiloh, and the Ryerson scholarship fund? If not, how much must they set aside each month for the next 20 years? Assume these deposits earn 8% APR compounded semi-annually and the payments are made at the beginning of each month. d) If both Brad and Angelina were to die together 20 years after they retired, would they have enough money to fund their entire retirement? If not, calculate the new monthly payments they would need to set aside for the next 20 years. Assume these deposits earn 8% APR compounded semi-annually and the payments are made at the beginning of each month. e) Draw a new timeline and label each component to illustrate Brad and Angelina’s retirement plan based on the scenario in part d).
Which company offers the best sepIRA plan? I know very little about finance/retirement plans, but I need to establish a sepIRA account soon. I googled several companies, including Fidelity and Vanguard, but I have no idea how to decide which one is the best. IAlso, I cannot seem to find any reviews or recommendations online. Any suggestions? Any recommendations and why you think so? Thanks for your help!
Have anyone heard of World Financial Group? Would you try it if anyone explains to you how the business wrks I have heard of this business which involves investments, mortgages, finance, retirement planning etc. ? Is there anyone out there who can explain it to me further.
i want someone to show how to make a budget includes house finance 401k retirement stocks mom dad daughter? i want to haver access to ALL may accounts but have it budgetedby week
How do you work this finance problem, regarding investing for retirement? Ross has decided that he wants to build enough retirement wealth that, if invested at 9 percent per year, will provide him with $4,250 of monthly income for 32 years. To date, he has saved nothing, but he still has 23 years until he retires. Required: How much money does he need to contribute per month to reach his goal? (Do not round intermediate calculations and round your final answer to 2 decimal places. Omit the "$" sign in your response.)
Can the retirement savings calculator at Yahoo Finance be modified to change the age of receiving Social Sec? For example, the calculator assumes a person would start drawing Social Security benefits at age 62. Can this calculator be modified or updated to show what the benefits would be if the person started taking benefits at age 67 (or any other age over 62)? It would be a more useful Yahoo users tool if this item could be updated.
What will the effect of the boomer retirement have on the stock market? Right now, boomers are preparing for retirement. Most are earning in their peak years or near their peak income levels. They are pumping more money than ever into the market to pay for their retirements. The ratio of people pulling money out of the market to fund their retirements in comparison with the people putting money into the market to save for their future retirements is better than it will be for at least the next three generations, most likely more. In the next five to fifteen years, the ratio of people paying into the market to save for their retirements in comparison to the people taking out of the market to pay for their retirements is going to change drastically. The draw on the market will increases drastically over the savings rate to finance retirement. This will be a historical first for the stock market.
We have an opportunity to buy an interesting business over the next 5 to 10 years. How can we finance this? My wife and I are 40 years old and we are preparing our "retirement" project. We have an opportunity to buy a very interesting business over the next 5 to 10 years. The seller is willing to work with us so that we can learn all the details of the business before we are finally the owners. So here is the question: what are the options to finance such an operation? Our own estimation is that this business is worth about 3 to 4 M$. Of course, there will be a due diligence that will be conducted. We do not have much net value... about 500k$. As much as possible, I would like to keep my actual job so that the bills are paid until the business is stable. Yes, the business can be driven while I keep my actual job. And, by the way, my wife would totally available for the new business.
What percentage of retirement assets should a couple withdraw monthly at age 65? Are there good guidelines? I'm trying to help my father plan his retirement finances and I'm looking for good guidelines to help him evaluate his strategy.
Is there someplace that offers educational courses on retirement and finances? Especially geared towards younger people in their 20s-30s?
Is there a website that has personal finance info such as average savings/retirement balances you should have? There are websites out there that have information like average salaries for specific job types which have been a great resource for me the past, however I'm wondering if there is a similar website that has information on personal finances . Information such has average balances one should have or has in their bank accounts or retirement accounts (checking, savings, investments, etc) so I can gauge where I am or where I should be. If anyone knows of one or a similar website it would be greatly appreciated if they could share!
How much should be set aside for retirement? I'm in a high school personal finance class. The book says 10%, but that seems like too little. How much would you set aside for retirement?
Where can I find an investment with an "annual interest rate of 10%"? Today Yahoo highlighted an article on investing that contained some tired old advice, namely investing in the stock market to achieve an "annual interest rate of 10%". http://finance.yahoo.com/retirement/article/107884/turn-small-savings-into-a-big-nest-egg?mod=retire-401k. In my opinion the stock market is not a fair game - as it is manipulated by crooks - I have been in the stock market mutual funds for many years and feel lucky to break even. However, I would love to earn 10% on my money. Anyone know how to do that?
What can you do to ensure a comfortable retirement? My mother is retiring next year. What can she do now, within the UK personal finance spectrum (savings schemes, tax credits, pension scheme tricks and tips, discount schemes for pensioners) that will mean she can enjoy a nice lump sum on retirement? She worked for the NHS for a time, but now works in a private health care and I'm pretty sure she has a private pension scheme too. Does that change things? All answers ABOVE BOARD please! :o]
20 years til retirement, how should I review our finances? short of talking to a pro, what should I look at in broad terms. we have a mortgage and no other debt. refi'd the house @ 5.125%, will have it paid off in twenty years. saved only $200K so far, but I will reenter the crappy work scene very soon, and that will increase income, if there's a job for me out ......what else? we each have a Roth IRA and a 401K
What is the smartest way to invest my $ for retirement? I am 23. Just out of school. I want to start saving for retirement early. I just want to end up with $1.5 million in the end at 60. I need simple. ie Put X amount of $ in for X amount of years to = that amount. I heard Roth IRA is good. Please, anyone w/ finance experience, add your input. I dont like stock market n such. I want to know that my money is accruing interest, and that I will definately have the funds later in life... I do not like risk.
Should students be required to take finance classes in school? With the economic situation the way it is, and more and more people being deeper in debt, should schools start providing finance classes in school? Working in the financial field myself, I see on a daily basis how people don't really have any idea of how important it is to plan for the future, and most of those who think they have planned, haven't really prepared properly. What do you think? Do you know how to lay out a monthly budget? How to invest for your retirement, whether an IRA, 401(k), or other retirement system? Do you understand how to utilize the system to receive the most tax breaks possible? 95% of America has 5% of the total money available in America. These people consist of employees and those who are self-employed. The other 5% have the remaining 95% of the money, and are business owners and investors. So do you want to work for your money, or have your money work for you?
How do I finance an Engagement Ring? I have a decent down payment, but not enough to pay in Cash.? I have $2000 saved specifically for the ring. I would like to buy a Princess cut diamond set in White Gold. I was planning on a 2 carat stone, but will probably go with 1.98ct or somewhere around there to save money, since it's close enough to 2, and once you hit the 2ct mark, the price jumps significantly.) I want a Verragio Lumino setting, but could take the design to a local jeweler to have it copied, so to speak... I own a home, IRA, 401k, have a safety net of 6-8 months and am set on the path towards retirement, (Not there yet, of course, but the plan is running its course.) This $2k that I have saved is literally set aside specifically for the ring. I have been with my GF for 5 years and we have been living together for over a year now. She's the one and I'm ready to propose. I am looking for creative financing options, other than dealer financing or tossing the loan onto credit cards or HELOCS. Anyone ever taken a part-time job at a jewelry store to save money? I'm 25yrsold
Can anyone suggest a good book on personal finance? Can anyone suggest a good book on personal finance? I have looked through the half.com $1 selections and the library, but it seems many of the books on this topic are filled with 100's of pages of common sense (i.e. give up your latte's, put 10% of earnings in a high yeild savings). I would like something that covers the basics for retirement planning, and personal investment, etc. Any suggestions?
Where do I start to learn about investments and retirement planning? Is there a good website with explanations on terms such as mutual fund, bonds, equities...that also explains how to get started? I need help understanding person finance and investments. Any useful advice appreciated. Personal finance, I meant!
Finance Ques...I am 60, husband 61, $100,00 no real retirement, owe $205,00 on house. What can we do to save? Our jobs have no retirement. I am now really worried. We do have some savings $5,000, no credit card debt, but a large mortgage $205,000, equity $100,000. Any thing we can do but still have money left to buy necessities????
How much money should a 40 yr old have saved for retirement before buying a $25k Harley? A friend of mine is considering purchasing a fairly loaded Harley to the tune of $25g's. Being 40, he wondered how much money he should have in investments or in the bank before pulling $25k out to buy a bike. I thought $200k (not including any home equity), but other friends of mine said they'd finance a Harley even if they had $0 in the bank. How much should someone have before making a purchase on a luxury item like a Harley?
Can my husband and I borrow against our IRA to finance a modular home for retirement? We were hit with a large tax payment last year when we both worked and have very little down payment for a home to speak of. I no longer work and my husband will retire soon from his current employer. We should have at least 190000 dollars in profit sharing and 401K, if the markets do not fall too much more, which we will rollover into an IRA. Would lenders generally be amenable to lending 100,000 dollars against this IRA considering the credit report being positive? Some mortgage lenders will not lend that much on a manufactured home; that is why I am asking. We own the five acres of land where our home will be and the site is partially prepped.
What is the most important aspect of personal finance for people in their 40s to 50s? How much of a nest egg do we need to build? We have our home, and retirement funds but how much is enough?
Is there anyone out there willing to risk their Retirement Money to a Junior Executive in Finance? Let's say you have your money that you worked so hard for for years, placed in an investment, one that you are counting on to provide for your retirement years put in the hands of someone who says he is going to change the investment strategy without specifics? If you have a lick of sense, you'd balk at the idea. Would you trust your money to someone who has a thin resume at best and moreover a record of losing money to handle your future? Why then are those of you trusting someone who has NO experience with issues that concern your future in matters that concern your future as an American? False promises and empty rhetoric without substance is NO way to invest with the future of our American Way of life. If you think you don't have money now, wait until you have the results of the philosophy of Obama implemented. God help us.
What are good ways to educate a high school junior in personal finance? My sixteen year old son has a job that pays about $80/week and a savings account with about $1,500 and a Roth IRA with a few hundred dollars. How would you teach him effective money management skills - credit/debt traps, budgeting, retirement, investing, etc.
Are finance and investing classes required in any high schools? It seems that investing is the key to class mobility. With a simple retirement account and even limited knowledge of the stock market and other investment vehicles, one can easily go from lower to middle class, middle to upper, and the rich can stay rich forever. So my question is: why isn't this information standardly taught in schools, and are there any places where it is? What would be the deterrent to such a class - higher earnings and inflation?
Who can offer me some advice on asset rollover for retirement? I would like to roll over my Yahoo Answers Religion and Spirituality points to my next account because I have a TC badge for Religion and Spirituality. I'm really confused with taxes and finance in general so its lucky I stumbled across this section. How do I get this started? I really want to protect my assets, I have 10,000 points for my other account and only close to a thousand for this account. I'd really like some help.
Econ major, Finance minor and job hunting in my 40s? I'm currently in a job I hate, yet pays very well. I've went back to school to look for something else in 5-10 years. At age 45 I will have 25 years logged in to my current job. I would be eligible to draw my retirement by age 50. So at 50 I would have this pension coming to me on top of working a job I love. If I majored in Econ and minored in finance are there any decent jobs available for a 45 yr old with a BA in Econ/finance? Would my age be a factor on whether or not someone would be willing to hire me? I'm willing to take a paycut to find a job I love. Just not a huge paycut although pay wouldn't be as much of an issue when I reach age 50 and draw that pension. I know some would say to just hang on my current job until 50, but I sincerely hate it. I don't know if I can make it 5 more years in my current field.
Is it true that you could end up with a better retirement as a contractor vs being a direct employee? A friend of mine who is an economics/finance major told me that he did some analysis of this since he started working as a contractor and found that contractor's make more money and therefore are able to invest more money into a 401k or a Roth or Mutual Funds vs a direct hire since their salaries are much lower. Is this true?
How do I get my Finances in order? My husband and I want to save for our retirement. dont know where to begin? My husband I want to save for the future but we can barely pay the bills and have food on the table. My husband is great with money but me on the other hand, I am horrible with money. I want to buy everything, buy things when i dont really need them, and i Could not tell you which bills are due when. we recently had a check bounce on our account and I know it was my fault but husband wont say it is. How can we be on the same page and save money? Please HELP
Does anyone know how to solve this finance problem? You believe you must withdraw $15,000 per month during retirement. You plan to be retired for 25 years. Assuming your money will earn 8.5% during retirement and also assuming that you will not adjust your withdrawals for inflation, how much money will you need to have on hand on the day you retire, in order to fund your retirement?
I need end-of-week financial and/or investment news and reviews online. Can you help? I co-host a local radio program every Saturday morning. The show is about investing, finances, retirement and wealth planning, etc. I have a source for information that comes out every Monday, but that news is outdated by the end of the week. I'm looking for something has has just news-bites... two-three-four sentences long. Sources would be great as well. I don't want links to CNN Money, Yahoo Finance, etc. Those will give you thumbs-down. I need a site (even if it requires a subscription) to give a listing of news, aka "The Week in Review."
Should a personal finance course be mandatory in high school ? How to run a small business, get a grant, succeed as an employee, invest for goals, manage retirement? So that people would be more financially literate?
I am looking for seed money to prepare a proposal suitable for lenders/equity investers in a retirement home.? This project would be in Greece, where the demographics show, as throughout Europe, that the Age structure is such that more and more people will have to live in some sort of assisted homes. We have an ideal place to position the community, we require the seed money to attract the real capital for the purchase and development. Does anybody know with whom we should contact to discuss financing?
A 65 year old man intends to use his retirement funds to purchase an annuity from a life insurance company.? given the amount of money the man has available to invest, the insurance company is able to offer two alternatives. the first option is to receive $2785 each month for as long as he lives; the second option is to receieve $3500 each month, but for only 20 years (payments will be made to his estate if he should die before that time) the relevant interest rate is 6 percent per year. how long must the man live so that the first option is a better deal? can someone plz help me answer this question for my finance assignment?
Why do we have to work so hard in life? Sometimes, the smallest things seem so hard and for others is so easy!? College, Careers, Relationships,Marriage, Children, Friendships, Holidays, Finances, Retirement. Sometimes, I feel like I am damned if I do and dammed if I don't.
What are some good books about learning the basics of Personal finance?( Canada)? I'm looking for a book about personal finance. A book that explains in a simple vocabulary, how to: - budget/manage your money -TIps on do's and don't about money. Depending in what cycle you are ( ex, close to retirement, what not to do with your money) - Information about Garanteed investments Certificates. - Canada Bonds -Basic information about Mutual Funds - Information about life insurance (Is it good to let go of it when in mid 50's?If not why? what are the dangers of not having one?) -RESPs and tips on to make the most of your money and make it last. THE BOOK MUST BE IN FRENCH!!!! ** The book I'm looking for is for a recent widow who's husband was the one taking care of the finances. I want to find a book for her so that she can know more of what is out there. What to watch out for and how to be more financialy independant and financialy wise.
Suggestions for any good personal finance websites? For anything in general, whether it be investing, retirement, real estate, etc.. I'm bored @ home, just trying to do some research.
Why would they encourage retirees to spend every dime? http://finance.yahoo.com/focus-retirement/article/108713/the-spend-every-penny-retirement-plan?mod=fidelity-readytoretire How in the world did this become good investment advice? They are basically advising retirees to spend every dime of their retirement savings. That now it is becoming "increasingly popular" not to leave a legacy to family and to spend every last dime on country clubs, fancy dining, and cruises? I understand when you are retired you should spend some money on yourself...but why are they encouraging retirees in the middle of a recession to not save for the future and to spend, spend, spend??? What if they sick? What about medical bills? Is the economy so bad they are trying to bankrupt retirees so they will spend their money instead of hoarding it in the bank?
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