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April 2, 2026I’m turning 68 shortly and plan to wait to claim my Social Security at age 70 to maximize the monthly benefit. I also plan to retire at the end of the year, if not sooner (so in three months or less). Does withdrawing from my traditional IRAs (current balance is $215,000) to reduce the income… read more…

September 22, 2023My wife started collecting Social Security at age 65, but it’s a tiny amount. I am planning on retiring in two years at 65 (67 is my full retirement age). Can my wife collect spousal benefits of 50% of my full retirement benefits once I retire? – James Unfortunately, the likely answer is “no,” although… read more…

September 27, 2023I am 74 years old (I was born Feb 2, 1948). My wife and I both worked for Aetna, but have retired and have 401(k)s from work that are with Vanguard. I received her 401(k) as a spousal inheritance and maintain it in a separate account. I plan to take RMDs on her account but… read more…

September 18, 2023My wife and I bought long-term care policies 25 years ago when they were relatively cheap. Now, our premiums have increased for the third time to over $500 per month and will rise again in six years. I figure I’ve already paid about $72,000 in premiums. Now, in our late 70s, I’m trying to decide… read more…

October 29, 2025When I retired in September 2022, my 401(k) was invested aggressively (90/10 split between stocks to bonds) and lost approximately 30%. I left the 401(k) invested in mutual funds in hopes it would gain back some of the losses. A year later it has gained back approximately 20%. I’m not required to take RMDs for… read more…

September 8, 2023I recently learned that I am the beneficiary of an annuity in the amount of $54,845 from a friend. I was given choices on how to receive the money: lump sum, roll it over or defer the payments over a certain number of years. I don’t have anything saved for retirement and I don’t know… read more…

October 29, 2025I am selling my house and the price is $504,999. After paying off this house I will net $400,000. Do I have to pay a capital gains tax as I’m planning to pay off my retirement home with the money I netted?     – Thomas Got a question you’d like answered? Email AskAnAdvisor@smartasset.com and your question may be… read more…

December 5, 2023I am 37 years old, married with three children. I have a credit card debt of $21,000 with a 24% interest rate. I also have a time-limited, no-interest credit card balance of $10,848 that is due September 2023. I have $14,000 in liquid cash and $9,000 accessible in a retirement plan. My net income is… read more…

October 28, 2025Is it wise to start converting my 401(k) into an IRA (and then Roth) by 10% per year in order to avoid having to claim too much income each year when converting and also avoid RMDs as much as I can?     – Cathy Got a question you’d like answered? Email AskAnAdvisor@smartasset.com and your question may be… read more…

October 28, 2025I am 57 and have $1.1 million in my 401(k) and $50,000 in a high-yield savings account. I earn $300,000 per year and put $30,000 in my 401(k) each year plus a match on the first 6%. I have a $220,000 mortgage on a home valued at $550,000. I would like to retire at 62… read more…

September 25, 2025I’m 73 and my 401(k) hasn’t been doing well for the last few years. Would it be a good idea for me to withdraw my money from my 401(k) and pay the tax that I will have to pay eventually anyway, and then invest the rest of my money in CDs? -Archie Your desire for… read more…

August 2, 2023In my 401(k) retirement plan, I’m 82% stocks. I’m 65 and still working. Should I be moving my stocks to bonds? -Bob While it’s not a satisfying answer, the real answer is that “it depends.” The decision of whether to shift your 401(k) to a more conservative asset allocation will depend primarily on your longer-term… read more…

July 25, 2023I’m 77 years old and I requested my 401(k) fund administrator to prepare my RMD. I was told I do not have to withdraw my money if I am still employed. Please confirm if this in fact an IRS rule or that of the fund management company? -Bea That is correct, Bea. If you are… read more…

July 13, 2023I have $800,000 sitting in a money market account because I don’t know what else to do with it. My hope was that I could put it in something that can yield around 4-5% growth. I also have $900,000 in my 401(k) that is sitting in minimal-risk accounts with Vanguard. I will be turning 62… read more…

July 25, 2023My husband and I are both in our early 40s, and he recently received a monetary gift from his deceased father of more than $20,000. We have nothing to speak of in regard to savings or retirement funds. As we’re in our 40s, what would you recommend we do? –Aubrey First of all, I’d like… read more…

June 22, 2023I’m 64. I just inherited $50,000. I’m leary of investing it in stocks as I took a bath after 9/11 and saw my $70,000 401(k) cut in half. I have been looking at high-interest savings in digital banks such as… read more…

May 1, 2026The existence of fiduciary duty does not prevent potential conflicts of interest. Could you explain a little more about this idea? What types of conflicts could arise even with a fiduciary? – Marianne Finding a fiduciary is a great start… read more…

November 7, 2025We are a dual-income couple in our mid-50s with over $2 million in our 401(k)s. Should we “sacrifice” the pre-tax benefit and switch to Roth contributions at work? -Wendy Like most tax-related questions, the answer is “it depends.” Based on… read more…

October 29, 2025My wife and I are both 65 years old. She will retire this year and I’ll work until I’m 67. We’ll get about $42,000 in Social Security and have about $1 million in savings. Can we live on $90,000 per… read more…

October 29, 2025I recently attended a retirement seminar at a local community college where the instructor talked about potentially higher tax rates in retirement due to the new RMD age. I have been under the impression throughout my saving career that tax… read more…

June 7, 2023Is it possible to have someone advise me on only part of my portfolio and does that make sense? -Marda It really depends on both what you’re trying to achieve and what your financial advisor is willing to accommodate. In… read more…

August 26, 2025How much am I able to earn from an employer if I opt to take my Social Security at age 62 next year? – Glenn To be very clear, you can earn as much money as you want while collecting… read more…

May 31, 2023My company provides both a traditional and Roth 401(k) option. My question is whether I should contribute to a traditional 401(k), Roth 401(k) or a mix of both. I am 31 years old, single and live in San Francisco. My… read more…

May 25, 2023A financial advisor told me the pros of building a two-part bond ladder (three-year Treasurys and 10-year corporates) to generate fixed income and cover required minimum distributions (RMDs). What are the cons? -Ken When used in the right circumstances and… read more…

September 4, 2023I am 65 and at the absolute peak of my earnings. I’m also in the 35% tax bracket and am not looking to retire soon. I need $30,000 for a home project. I have enough to take it out of… read more…