Retirement planning
#11
#12
Gets Weekends Off
Joined APC: Jan 2018
Posts: 108
I let Prestige Worldwide manage my portfolio.
Here is their investor presentation. https://www.youtube.com/watch?v=ciS914MaDl8
Here is their investor presentation. https://www.youtube.com/watch?v=ciS914MaDl8
#13
Retirement Money
Any recommendations for a book / website on creating a plan for how much money you’ll need in retirement? Trying not to recreate the wheel and I’m not looking for gimmicks, get-rich-quick, or political spin... just solid practical advice. Thanks!
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Sent from my iPhone using Tapatalk
#14
#16
stash as much cash as you can for the last couple of years. What because while we’re all planning on a retirement benefit of $130,000 per year depending on your spouses age that number will drop significantly. In my case with my wife being only a year and a half younger than me my bebifit dropped from 130K to $117k per year. I stashed cash for my last two years and am currently delaying taking my retirement for one year. My benefit will then jump back up to around 132k ( X Tiger). Got the same wife, same house, same airplane, same boat. Life’s not so bad after FedEx.
#18
Plan to live on about 4% of whatever your equities portfolio is because that is how much you'll be able to reliably draw from without touching the principle.For example:1 million = $40k/yr
2 million = $80k/yr
3 million = $120k/yr
4 million = $160k/yr
If you invest 15% of your income consistently in well diversified equities portfolio during your working years you should be ok at the end.Don't count on social insecurity to be there.
2 million = $80k/yr
3 million = $120k/yr
4 million = $160k/yr
If you invest 15% of your income consistently in well diversified equities portfolio during your working years you should be ok at the end.Don't count on social insecurity to be there.
Maximize your DC plan every year. I elect and maximize the 401kROTH. Then using company contributions and post-tax money, I maximize a 401k up to the maximum $57,000/year for 2020 (which includes the $19,500 in the 401kROTH). CAREFUL, if you elect more than about 5% post-tax deferrals, you could hit the maximum early and cheat yourself out of free company contributions. FDX ALPA R & I puts out a very good circular on this. CLICK HERE
If your Disability Sick account exceeds 686CH, the overage shall be deposited into the DC Plan up to the IRS limit. See CBA 14D and 14E.
Fidelity allows you to auto roll over the post-tax 401k money into your 401kROTH each month. It's called the Automatic Roth In-Plan Conversion. I do believe it might create very small tax penalties at the end of the year. Depending on your personal situation, this may/may not be the best option for you depending on what tax brackets you end up in at later life. Fidelity can help you with this decision.
Also, I recommend the Charles Swab financial review and the ALPA retirement seminar. Fidelity's is good too. So many options.
#19
Gets Weekends Off
Joined APC: May 2018
Posts: 210
^^^^ THIS ^^^^
Maximize your DC plan every year. I elect and maximize the 401kROTH. Then using company contributions and post-tax money, I maximize a 401k up to the maximum $57,000/year for 2020 (which includes the $19,500 in the 401kROTH). CAREFUL, if you elect more than about 5% post-tax deferrals, you could hit the maximum early and cheat yourself out of free company contributions. FDX ALPA R & I puts out a very good circular on this. CLICK HERE
If your Disability Sick account exceeds 686CH, the overage shall be deposited into the DC Plan up to the IRS limit. See CBA 14D and 14E.
Fidelity allows you to auto roll over the post-tax 401k money into your 401kROTH each month. It's called the Automatic Roth In-Plan Conversion. I do believe it might create very small tax penalties at the end of the year. Depending on your personal situation, this may/may not be the best option for you depending on what tax brackets you end up in at later life. Fidelity can help you with this decision.
Also, I recommend the Charles Swab financial review and the ALPA retirement seminar. Fidelity's is good too. So many options.
Maximize your DC plan every year. I elect and maximize the 401kROTH. Then using company contributions and post-tax money, I maximize a 401k up to the maximum $57,000/year for 2020 (which includes the $19,500 in the 401kROTH). CAREFUL, if you elect more than about 5% post-tax deferrals, you could hit the maximum early and cheat yourself out of free company contributions. FDX ALPA R & I puts out a very good circular on this. CLICK HERE
If your Disability Sick account exceeds 686CH, the overage shall be deposited into the DC Plan up to the IRS limit. See CBA 14D and 14E.
Fidelity allows you to auto roll over the post-tax 401k money into your 401kROTH each month. It's called the Automatic Roth In-Plan Conversion. I do believe it might create very small tax penalties at the end of the year. Depending on your personal situation, this may/may not be the best option for you depending on what tax brackets you end up in at later life. Fidelity can help you with this decision.
Also, I recommend the Charles Swab financial review and the ALPA retirement seminar. Fidelity's is good too. So many options.
Save early. Save often. Make hay when the sun is shining as there will be rainy days eventually.
#20
Accumulate 25 times your expected spending.
The link is to a website that was free, and provided some great financial planning. Looks like a redirect when I clicked on the bookmark so no guarantee of what it will actually provide
https://maxifiplanner.com/esplanner-basic-now-maxifi
Market Watch article about a financial book that's very valuable for your planning, "The 7 Most Important Equations for Your Retirement"
Likely free at your local library
https://www.marketwatch.com/story/7-...ent-2012-06-27
The link is to a website that was free, and provided some great financial planning. Looks like a redirect when I clicked on the bookmark so no guarantee of what it will actually provide
https://maxifiplanner.com/esplanner-basic-now-maxifi
Market Watch article about a financial book that's very valuable for your planning, "The 7 Most Important Equations for Your Retirement"
Likely free at your local library
https://www.marketwatch.com/story/7-...ent-2012-06-27
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