retirement

In my previous job we were signed up to a defined benefit pension, as well a separate defined contribution pension. I got a letter in the post today with the closing statement of the DB pension. I was with the company for 4 years, and looking at my annual statements I couldn’t figure out what...

Hi all, Done a fair amount of research but hoping for some good opinions and caveats here. What are the laws around imigration and RA's in South Africa w.r.t to taxes and fees (though these are mostly specific to the company you're with)? Must it be set up to transfer into a new RA fund at...

I'm a teacher with Chicago Public Schools and I am exploring options for additional retirement savings plans. I currently pay into the Chicago Teachers Pension Fund and have recently opened a Roth IRA account, which I plan to max out. I was wondering if it would be a good idea to open another...

I am trying to work out approx how much a pension pot of 1million for example is actually worth in my back pocket. If i have a pension worth 1 million and decide to retire at 55. How much is that pension actually worth if i follow the 4% rule. Here is my understanding. 1) 25% is tax free upto...

I am a US Citizen living/working in Ireland for 7 years. I had a 401k for a number of years at my job in the US, prior to moving to Ireland. It currently has about 100k in it. I am no longer making contributions to this. I am also contributing to and Irish pension via my employer here in...

Evaluating retiring from the USA to RSA, in particularly looking at the tax impact. Does anyone know if SARS considers withdrawals from a 401k as withdrawals from a foreign pension, thus tax exempt?

I have STEM OPT until 2025 but after then no guarantee that I will still be permitted to live and work in the US (going for H1B, but did not succeed this past year). Does anybody have experience with setting up a Roth IRA & then moving back to their home country? I am worried that if I don't...

Given it's already March 1, this probably comes too late to help people calculate their optimal TFSA/RRSP usage for the 2022 tax year. However, understanding these equations will be helpful toward planning your future registered account contributions. First, assumptions and definitions: You...

Hi folks. I've decided to become a grown-up and make active decisions about my future. One of those has been to reassess my RA. About 10 years ago I unthinkingly did what my parent's financial advisor said I should do and started contributing to a Sanlam Glacier RA. While not the most expensive...

I'm 56(f) planning on leaving my PAYE job in a semi- state company for a self-employed venture, I'm paying into an AVC, can I continue paying into it?

Which one would you choose and why? any advice on this, please. Thanks a lot. https://preview.redd.it/pvajnmzj9x0c1.png?width=1138&format=png&auto=webp&s=547bf93cbdb04e2d7bae67b011bf0c99ec6a08ea

Hi everyone, I am starting a new job and have two options for joining a retirement scheme through my employer. Do any of you perhaps have any experience with or advice to offer on which one of these two would be the best in the long run. Employers Provident Fund – Administrated by...

I work as an independent contractor and am paid through an LLC I set up for myself and which for the 2022 year, I elected to be taxed as an S-Corp (also I have no other employees). 2022 was my first year as a non-W2 worker, so I'm a bit new to this. But I think I screwed up choosing a solo...

Following on from this I have a question about when you can access a pension lump sum. I have an Irish life pension which I pay into each month and my employer adds contributions... Is this referred to a PRSA? I keep seeing references to occupational and PRSA pensions and I'm not clear on...

For those of you interested in FIRE [Financial Independence/ Retire Early], we're hosting a meetup at Foresters Arms in Newlands, Cape Town on the 19th of December 2018, 7:30-9:30 pm. We've organised this through the Fat Wallet Show community on Facebook, where you can RSVP. Come and discuss...

My mum has had issues financially throughout her life and my brother and I aware we’ll need to help her financially going forward, we both live and work abroad. My mum is 70 and will retire soon and this is the advice we’ve gotten from her financial advisor. It’s in Afrikaans, sorry about this...

I recently quit my job where I had 401(k). Had the job for close to 10 years. Most of my contributions were Roth, and in the last few years as my income increased, I changed contributions to Traditional. I'm in my early 40s. When I look at website for the account, it says that out of the total...

Hi all, I'm a 26 year old earning a gross wage of 45k. My aim is to eventually buy a house, and long term I'd like to retire early, or at least go on job share for at least ten years before retirement. Currently, I have just over 38k in savings, but I am not in a position to buy a house just...

Ontario, Canada. 30M. I'm in a terrible place financially right now. I've been on and off work (at the same job) for the past 3 years, due to musical issues. I most recently went off in January of this year, and my claim for disability benefits through my employers insurance was denied. I'm...

I’m in the fortunate position to potentially max the 415(c) limit for the first time in 2024, which is $69,000 (under 50). I want to ensure that I don’t go over $69k. Math: 401k ($23,000), 401k employer match ($7,000), Employee Stock Ownership Plan (ESOP) ($20,000), Bonus company defers on my...