Jump to content

jmg66

Members
  • Content Count

    7
  • Joined

  • Last visited

Community Reputation

0 Neutral
  1. I guess this is the right place to ask this question. If you are contributing the maximum to a 403b can you still contribute to an IRA? And of course I have to contribute to the teacher's retirement fund. Thanks
  2. Hi Celia, Thanks for your comments. I will answer a couple questions that keep coming up in the responses to my original post. My responses are out of order. I live in metro west Boston and do not want to retire here. I live here because it is between my job and the city. My retirement plan is to move to the Cape and I'm think it will be in about 4 to 6 years. Not sure if I'll buy or rent then. I was able to keep all of the capital gain, $250,000, from selling my house. Bought one of the 'Dummie books' and was able to make that happen. I figure out my net worth every year and do a budget. When I put most of my money in the bank after my house sale, I lost deductions and increased income so my tax bill was very high. I decided to put more of my paycheck in a 403b to reduce the income and use some of the interest off my bank accounts to live. First I will call Vanguard and see what advice I get. Then I will think about going to a financial planner that will work with me. Talked to one a year ago and she wanted $1000, is that typical? Didn't like or trust her either. Don't worry. I over think most of the time and don't just jump in. I liked the suggestion of Money Magazine, listening to podcasts, and have already read some of the articles suggested on this site. I know I should of done this twenty years ago, nothing I can do but try now. I have gotten more than I hoped from this site. People patient and willing to share their perspective. jmg
  3. I will definitely give Vanguard a call. It's good to get a seasoned perspective on investing. Thanks for your time and sleep well. jmg
  4. Thanks for taking the time to respond to my email. You've given me lots to think about. One question, is a low cost tax efficient mutual fund the same as the Vanguard 30 mutual fund? or is this another type of mutual fund? Thanks again, jmg I also have a Variable Annuity from Vanguard. I put $70,000 in ten years ago and now it's at $108,000 (down from $114 in the last couple weeks). Does it make sense more $ in there? I thought of that when you said 'forget about it' since that's what I did with this. I find it hard to read, or even think about financial stuff. That's why I like like this forum approach: personal, specific and quick.... Thanks Tony and anyone else who takes the time to respond.
  5. Thanks for taking the time to respond to my email. You've given me lots to think about. One question, is a low cost tax efficient mutual fund the same as the Vanguard 30 mutual fund? or is this another type of mutual fund? Thanks again, jmg
  6. Hi, This is my first time posting and don't know anything, sadly, about finances but I am trying to learn. I appreciate any feedback. Here goes: I'm about five years away from retirement, single. Sold my house two years ago and put the $250,000 in an online bank with @ 5% interest. I was renting, thought I might eventually buy a condo and wanted the cash available (I hate debt). At tax time I was hit hard and decided to look into some different options. In the fall I decided I'd live mostly off my savings and began to increase my 403b investments so I'd have less taxable income. I only had $30,000 in my Fidelity 403b so for the upcoming year I increased to max withdrawal, $20,500, planning to have most of it taken out in the Jan-June paychecks. Also I decided to switch to the Freedom 2025 Fund since I read it's a good choice for novices and would give me a higher return even though I'll be retiring sooner. Now I'm losing money. I want to rethink this plan and need some advice and definitely some perspective. Should I take less out and put the future earnings back in the bank? Keep the plan but take less out now and more later in the year? Switch funds? Thanks
×
×
  • Create New...