Bernie's Frequently Asked Questions

Retirement

• Should I take early retirement, or am I making a terrible mistake?
• Can I afford to retire, or should I work for a few more years?
• Should I begin receiving Social Security as soon as I am eligible or should I wait?
• At what rate can I spend my savings so that I don't have to cut back later in retirement?
• If I work part-time during retirement, will it make a big difference?

401(k) Plans and Pensions

• What should I do with my 401(k) Plan?
• Should I convert my IRA or 401(k) to a Roth IRA?
• If an enhanced pension is available until I am eligible for Social Security, should I take it?
• Should I take my pension in a lump sum or as a monthly annuity?
• Should a monthly annuity be over my life, both myself and my spouse's life, or term-certain?
• When am I required to begin withdrawals from my IRA account? Should distributions be over my life or both myself and my spouse's life? Is the term-certain or the recalculation method better for us?

Investments

• How should my savings be invested so I won't run out of money?
• Should I pay off my home mortgage now that I am retiring?
• Should I keep my house or should I move to a smaller place?
• What should I do with my unexercised stock options from work?

Standards of Living

• What will inflation do to my standard of living while I am retired?
• How will my spending patterns change throughout my retirement?
• Will I be able to afford to buy a new car from time to time when I am retired?
• What effect would moving to a less expensive part of the country have on my standard of living?
• Will I be able to afford to make sizeable gifts of money to my children, or will I regret it later?

Insurance

• What should I do with my life insurance during retirement?
• If my spouse or I required a prolonged period of nursing home care, would we be able to afford to keep the house and our standard of living?
• Can I self-insure for long-term health care or should I buy insurance for all or part?