Sentences with phrase «early retirement means»

For some, early retirement means leaving the job at age 40; for others, age 55.

Early retirement means something different to just about everyone.

Early retirement means reduced time to save.

It was also assumed that Nathalie received 75 % of the maximum Quebec Pension Plan (QPP) given early retirement means she probably won't have enough years of service to qualify for the full pension.

You generally need to have 39 years of maximum contributions to receive the maximum CPP retirement pension, so spending 10 years in the U.S. and an early retirement means you're not likely to be at the maximum, Peter.

Early retirement means that having your essential and some fun expenses covered by non-work related income.

I planning for the early retirement meaning very short so was trying out good options.

Not exact matches

It means if your investments take a big hit as you are nearing retirement or in the early years of retirement, your losses can be much more devastating than if they had occurred earlier in your life.

More from Your Money Your Future: Obamacare repeal may birth a new retirement account What Trump's fight over retirement savings rules means for your nest egg That» 4 percent rule» could spell trouble for early retirees

People can still long for the «lottery trade» that will mean early retirement, but this is a trap.

Higher full retirement ages mean larger penalties for taking benefits early and lower bonuses for waiting longer.

Putting away a percentage of your monthly income into a retirement fund as early as 30 years old means you can take advantage of several years of compound interest — and with little to no risk.

So calculators can guide you in how much to save but for early retirement it basically means saving (investing) above and beyond the average amount.

Today, a post about the under - recognized benefits of spending less in early retirement, because spending less means earning less, and earning less means a whole bunch of benefits.

In exchange for the ability to fund these early - retirement adventures, many retirees are willing to accept a potentially smaller lifetime benefit, even if it also means accepting a declining standard of living in their later years.

Jon and his wife want to retire early and live up to age 95, which means they need to save a lot of money for a long retirement.

Every bit you save now means you're that much closer to retiring early — and the best part is that most retirement accounts offer tax benefits as an incentive to help you save for the future.

I shared what I learned about financial independence and early retirement with Mrs. Enchumbao and her no - so - exact words were: «So you mean to tell me that if we save and invest up to a certain amount, we can live off this money forever and not have to work for money again?»

Which means that we won't be able to count on a big chunk of that money right away or, to be more precise, within the first five years of early retirement.

The 21 time champion jockey announced his retirement from professional race riding earlier this season that means that this will be his last Grand National.

Felipe Massa's retirement means the Grove - based squad have a driver vacancy to fill and they have confirmed they will reveal Stroll's new team - mate early in 2018.

New York needs to lose two House seats this year, which means four sitting members will end up having to decide between running against one other and early retirement.

It would also end early retirement, force employees to pay twice as much toward their pension, and end the «padding» of pensions through overtime pay, sick time and other means.

A proposed voluntary early retirement plan, if accepted by enough workers, would account for only $ 15 million of that, meaning Mangano would have to come up with additional savings of more than $ 100 million in labor costs annually to meet his target.

Dianne took early retirement a couple of years ago meaning that she is gradually culling her now defunct working wardrobe, much to my benefit.

In short, early retirement incentives can provide a means for districts to save money without hurting student achievement.

The superintendent of the Fairfax County, Va., public schools has opted to retire early at the end of this year in the wake of negative public reaction to a school - board plan to add his early - retirement benefit to his current salary as a means of keeping him on the job longer.

As the Wall Street Journal «s James R. Hagerty reported earlier this month, more jobs are appearing in the manufacturing sector after a decade - long decline; the retirement of Baby Boomers also means more high - paying jobs on factory floors.

This distinction alone means two early childhood teachers with identical qualifications could have dramatically different retirement benefits.

Opening up your own business adds additional risks to your family's finances, but also greatly increases the amount you are able to contribute to tax advantaged retirement accounts through SEP IRAs and Solo 401 (k) s. Early retirement may mean saving in a taxable account with proper asset allocation, vacations may mean budgeting for extra expenses.

When it comes to tax - efficient withdrawal strategies in retirement, Diamond says what he has found to be effective is «all of the above,» meaning a balanced approach including early withdrawals from fully taxable sources such as RRSPs, pensions and government benefits.

For the uninitiated, FIRE means «financial independence to retire early,» and FIREcalc allows users to test different retirement scenarios and see what happens as they live off their nest egg.

Early retirement does not mean sitting on the beach doing nothing all day.

So by all means budget for luxuries, but it may make sense to set a larger budget for your early retirement years, and a smaller one for the later years.

That means lower taxes early on in retirement

Both extreme strategies are horrific ideas for most Americans who are just now realizing they are not ready for what retirement really means — a steady stream of expenditures funded by your decisions early in life on your personal cash flow.

Of course, you'll get zilch or very little from the longevity annuity if you die before or soon after payments begin, which would mean you gave up money you could have spent early in retirement in return for payments that never materialized.

In his new book, Wealthing Like Rabbits, author Robert Brown makes the case for favouring RRSPs over TFSAs most of the time because the former usually means less temptation to access your retirement savings early.

In some cases, it's almost Machiavellian in that the end goal of early retirement totally justifies the means to get there.

«As an alternative to the monthly annuity benefit these plans are required to offer... DB plans added lump sum distributions, often as a means of encouraging early retirement initiatives that became popular in the 1990s.

By taking it early at 62 years old that means a 25 % reduction from what it could be at a full retirement age of 66.

But it could mean that you lived more frugally than you had to early in retirement when you were young and healthy and might have enjoyed spending more and indulging yourself occasionally.

This means that should you take a withdrawal before you reach retirement age, you pay taxes on that money as normal income, plus an additional 10 percent penalty for early withdrawal.

If you claim your benefits early — meaning, before the current «full retirement» age of 67 for those born in 1960 or later — your benefits will be permanently reduced.

Too low a rate may leave you with a big stash of cash late in life, which means you might have unnecessarily stinted earlier in retirement.

But ending up with a large nest egg late in life could mean that you economized unnecessarily early in retirement, the very time when you probably could have most enjoyed spending some extra dough traveling, trying out new hobbies or other activities or just indulging yourself occasionally.

Well, you'll save more money on current year taxes, and more importantly, you'll have more stashed away for retirement, which means you can retire earlier or you'll have more income in retirement.

That means in 15 years my wife and I will have $ 150,000 in contribution room, which assuming I have maxed out means I could be pulling out $ 6000 / year (assuming the 4 % rule) tax free between the two of us for our early retirement and not affect any benefits I would receive from the government when I turn 65!

That means many retirees — depending on personal expenses — may need more income early in their retirement than later.

That would mean that most couples would need to save less something closer to $ 70,000 a year (if they expected to have an income of $ 100,000 at early retirement)-- since there would be no tax on the money from the TFSA.