Hi Thanks for access to your website
I have a couple of questions.
I am 57 and have just retired from public school after 28 years. My retirement check will start in September and will be about 2600. I have another job now where I am payed as a subcontrator. I receive about 2000 per month from that.
Is there anyway to lessen the 15% tax on my new Job?
The other question I have is that I will receive 100k in 3 years. What is the best way to deal with this money from a divorce settlement?
The third question is about my 401k which I will be eligible for withdrawing at age 57 1/2 years. What would be the best thing I could do with this money?
It might be a good idea to ask a professional financial advice.
Also --maybe, depending on your state-- the entity that administers your retirement pension, is likely to have retirement planning seminars, printed information and perhaps access to someone who can counsel you personally.
That 15%+ is unavoidable except that you can deduct expenses. Travel, tools, anything business related comes off before the 15.
Hi, Debra. The appropriate professional that can answer your specific question is an enrolled agent. There are more specifics to your situation that would need to be considered to give good advice. And of course you don't want to post that info in a forum. An enrolled agent is a tax professional that has passed an exceptionally difficult exam proving competence and experience at the same level (or in many cases higher) than an IRS employee. I would always recommend an EA over a CPA in tax matters. Just take a look in the phone book or check get an Endorsed Local Provider referral from www.daveramsey.com (it's free). I hope that's helpful.
Do listen to what Rochelle Frank had to say for she has hit the nail on the head. As a retired Financial Advisor I agree with Rochelle.
by Petra Vlah 6 years ago
Through our working years we all paid for Social Security and Medicare, so why are they considered entitlements when in fact we contributed our own money into the system?
by MarieLB 3 years ago
Have you written down a plan for x years hence?We are here working for what? Have you thought where you will get you as a writer in say. . . .5 years time? Have you thought it through? What are you doing now that will get you there?They sound like many questions, but in reality it...
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|