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Retirement strategy question

  1. #1
    Join Date
    Aug 2017

    Retirement strategy question


    I am retiring from a job I've had for 20 years. I plan to do this over 1-3 years (not sure yet) where each year is 1/2 of my normal work hours and 1/2 of my normal pay. I'm 65 and am not yet getting SS. I will need to supplement my 1/2 pay during these 1-3 years with $ from elsewhere.

    My question, which would make most sense for me in terms of optimizing my retirement savings:

    1. To withdraw the extra $ I need from my retirement savings? (It is not an IRA account, it is an account set up by my employer with the employer contributing a certain fixed % [up to 10%] of what I contribute from my pay check.)

    2. To get the extra $ I need by contributing LESS to my retirement account (thus getting less matching $ from my employer)?

    3. A combination of the two?

    Thank you!


  2. #2
    Join Date
    Jun 2017
    Wisc USA
    You need to provide specific info to get specific advice.
    Deducing that your account with your employer is a 401K;
    You need to talk with your HR benefits administrator. Get the details of the 401K vesting policy / schedule.
    You may not get the $ the employer contributed (called a 'match') for the last x years.
    IF you do NOT get the 'matching' funds, there's no point in contributing any of your money.
    If you NEED to withdraw AND stop contributing is determined by your income / expenses.
    Since you are over 59.5, you can withdraw from your 401K quite freely. See: for details.
    Years may wrinkle the skin, but to give up enthusiasm wrinkles the soul - Samuel Ullman

  3. #3
    Join Date
    Jul 2016
    bayside ,queens , ny
    not nearly enough info here .

    if your income allows it the tax guards give us a gift . that gift is we can take 22k a year out of retirement money tax free . that is money you likely wrote off at higher levels . you can take as much as 40k and pay under 5% tax . that is just using the standard exemptions and deductions for a couple .

    it would be a shame to give that up if you can utilize it .

    dor some delaying ss , living off cash for a year or two , using the zero percent capital gains bracket you can have a 100k plus income , reduce rmd's and pay very little tax .

    is it for you ? no one knows , not enough info

Please reply to this thread with any new information or opinions.

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