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Asked by someone from CA on 2/4/2017
Dana Anspach
Dana Anspach, CFP, RIA says
The defined benefit account is most likely to withhold a mandatory 20% for federal taxes, or $6,434. However, sometimes you can tell them what amount of federal and state taxes to withhold - and the amount that is withheld is not necessarily the amount you will owe! The amount of taxes you will depends on all the items on our tax return - both ... (Read More)
Asked by a 64 year old woman from FL on 2/15/2017
Dana Anspach
Dana Anspach, CFP, RIA says
If you are 64 this year, I am assuming you were born sometime in 1953, and so your full retirement age is 66. After you reach your full retirement age, you can earn ANY amount, and your Social Security benefits are not subject to the "earnings limit". You may stlil pay income taxes on a portion of your Social Security benefits, but the earnings ... (Read More)
Asked by someone from SC on 6/18/2013
A NewRetirement User says
If you are seeking for an advice about flooring repair then here is the best solution to solve all your problems. With http://www.pcwoodfloors.com/ you don’t need to be unsecured. They can offer you with the best possible service for all sort of floor repair and can even assist you with the accessories required for proper maintenance of your ... (Read More)
Asked by a 61 year old man from OH on 11/12/2016
A NewRetirement User says
Well, it depends......... No financial institution is going to offer you anything that isn't in THEIR best interests. So, all other things being equal, the buyout ("lump sum") is going to be worse for you than the annuity. Having said that, it's all actuarially based. If you are in poor health and don't expect to live beyond about 80, then the ... (Read More)
Asked by someone from MD on 12/29/2016
Henry Hebeler
Henry Hebeler,  says
This is a question best answered by the Social Security Administration. Please call them. (Read More)
Asked by someone from FL on 1/1/2017
Henry Hebeler
Henry Hebeler,  says
Not to buy a life insurance policy. It's better to review your situation with a CFP than an insurance agent. You need an unbiased view. (Read More)

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