No. of Recommendations: 0
Hi Karl:
Thanks a lot for taking time to respond. My follow up question: Is pension income treated like earned income for social security benefits reduction? I learnt that a social security recepient between 62 & 65 can earn upto $11,500 without any reduction in SS benefits. Also can I fund IRA & Roth IRA out of pension benefits in the future.

I plan to retire sometime during next year. I'll be 62+ and intend to apply for SS as soon as I retire. Does it matter how much I will have earned before applying for SS during 2003. I plan to fund 457, 401a, Roth IRA to the max allowed before retiring out of earned income. I'll settle on retirement date after I get a clear picture how to maximize tax planing.

Any source for further reading will be appreciated.

Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.