08-11-16, 12:22 PM | ||
Join Date: Nov 2001
Location: Atlanta, Ga.
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Quote:
So, a month after my 60th birthday I will begin to receive that money that DH worked so long and hard for. Count your blessings that you and DH still have each other. Never, ever take each other for granted. Trust me, life is too short.
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Jeanne |
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08-11-16, 12:22 PM | |
VF Supporter
Join Date: Apr 2002
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oops, double post
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“Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!” -- Hunter S. Thompson Current Rotations: JSmith: STRENGTHEN ManFlowYoga: morning sessions & Strength Foundations YogaGlo & MFML: easy, morning classes |
08-11-16, 12:24 PM | ||
VF Supporter
Join Date: Apr 2002
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Quote:
__________________
“Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!” -- Hunter S. Thompson Current Rotations: JSmith: STRENGTHEN ManFlowYoga: morning sessions & Strength Foundations YogaGlo & MFML: easy, morning classes |
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08-11-16, 12:43 PM | |
Join Date: Nov 2001
Location: Chicago, IL
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This is true. I have a cash balance pension from my last job that was frozen right after I was laid off. My husband was still with the same company, but since the pension was frozen, he wasn't receiving anymore contributions either, although we both continue to accrue interest (at least 5%, which is pretty good). I am fortunate enough to have a new cash balance pension at my current job. I was surprised they continue to offer it for new employees. That's unusual now.
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Carol |
08-11-16, 01:11 PM | ||
Exchange Moderator
Join Date: Feb 2002
Location: PalmTreeVille
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Quote:
many people consolidate so that when they start taking distributions, they won't need to track different accounts and different rules from different brokerages.
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~jeannine Miyagi: Wax on, right hand. Wax off, left hand. Wax on, wax off. Breathe in through nose, out the mouth. Wax on, wax off. Don't forget to breathe, very important. [walks away, still making circular motions with hands] ~ Pat Morita, The Karate Kid, 1984 disclosure: in the years 2002-2004 i had a professional relationship with a distributor of fitness videos; see profile. |
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08-11-16, 01:39 PM | |
Join Date: Nov 2001
Location: Chicago, IL
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No, it has a large balance and I can't take a lump sum payout or roll it over. And I wouldn't anyway. I plan to take monthly payments for life with a cost of living adjustment when I retire. I also have a large rollover IRA from the 401k from that job that is invested in stock and bond mutual funds, as well as a non-retirement account that is invested in index funds and a tax-exempt bond fund.
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Carol |
08-11-16, 01:51 PM | ||
Exchange Moderator
Join Date: Feb 2002
Location: PalmTreeVille
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Quote:
__________________
~jeannine Miyagi: Wax on, right hand. Wax off, left hand. Wax on, wax off. Breathe in through nose, out the mouth. Wax on, wax off. Don't forget to breathe, very important. [walks away, still making circular motions with hands] ~ Pat Morita, The Karate Kid, 1984 disclosure: in the years 2002-2004 i had a professional relationship with a distributor of fitness videos; see profile. |
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08-11-16, 02:35 PM | |
VF Supporter
Join Date: Dec 2001
Location: NC
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Jeanne,
Your DH is very loving and wise in saving for retirement. Hugs to you. My DH's family invests and saves so it is instilled in him since childhood. You wouldn't know they are extremely rich when you meet them. Thanks to my DH, I will be provided for when I retire. On top of our retirement, DH has inheritance that is more than enough for our current lifestyle. My boys are going to inherit the $. I don't think I will retire yet as I love what I am doing. |
08-12-16, 11:04 AM | |
VF Supporter
Join Date: Aug 2002
Location: Raleigh, NC
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My DH checked with his 401K at work and it turns out that he can withdraw the money early when he retires at 55. I don't know if we will take advantage of that given you never know how long we'll need funds, but it's nice to know it's an option.
Definitely check with your own accounts/companies as you can. We've made an appointment with a financial planner who specializes in federal government employees (which DH is) to find out what options are out there we may not know we have.
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Laura Laura's Workout Mantras: Something is better than nothing The best workout is the one you will DO |
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