My Boomer Tips

My Boomer Tips

I don't want my mom to work forever and she is an unstable relationship. I want her to have a retirement plan and I am not sure if she can get a decent amount of money to live on by now since she is almost 50. I am in need of all the suggested plans you have. Thank you

My Boomer Tips

Can I claim the savers tax credit if I do not contribute to my retirement plan with my salary, but my employer contributes for me? I have a retirement plan and I do not contribute to it when the money I make, but my employer automatically contributes 2% on their own to my account. Can I claim that contribution amount on my taxes to receive the savers credit?

My Boomer Tips

And how much money you get back with your 401 K retirement plan?

My Boomer Tips

I'm looking to start a retirement plan asap and I'm not sure which way to go with the way this economy is. Any ideas?

My Boomer Tips

Say you have a retirement plan where you contribute part of your salary every month, and your employer also matches. Say that the program vests incrementally every year.

So when someone says that for example, 60% of their retirement plan has vested....what amount does this refer to exactly? Does this mean that upon retirement, the employee is entitled to ALL his personal contributions + 60% of the employer matching? Or is the employee only entitled to 60% of both his personal contributions and the employer matching amount?

Can someone please clarify? Thanks!!

My Boomer Tips

I'm currently a stay at home Mom and do not have a retirement plan in place. I'm 30 and looking for a reasonably priced plan for the future. Any suggestions?

My Boomer Tips

I work for a community College and we have to contribute to a retirement plan called SURS. I am planning on quitting but don't know what happens to my money?

My Boomer Tips

Can you describe a situation where this would be important. Thank you for your help with understanding this kind of retirement plan.