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When within a year...
Old 01-19-2007, 11:36 AM   #1
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When within a year...

Dory,

When FC asks you what year you want to retire, or what year SS will start, etc. what presumptions are you making about when within that year the event begins?

Jan 1? Current month and date in the selected year?

It could make quite a difference in some circumstances.

Thanks.
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Re: When within a year...
Old 01-19-2007, 12:04 PM   #2
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Re: When within a year...

Quote:
Originally Posted by Rich_in_Tampa
Dory,

When FC asks you what year you want to retire, or what year SS will start, etc. what presumptions are you making about when within that year the event begins?

Jan 1? Current month and date in the selected year?

It could make quite a difference in some circumstances.

Thanks.
Doc, while we're waiting for Dory's reply, I recall several posts from him indicating the answer is Jan 1.

http://early-retirement.org/forums/i...5483#msg195483
http://early-retirement.org/forums/i...3016#msg103016
http://early-retirement.org/forums/i...3016#msg103016


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Re: When within a year...
Old 01-19-2007, 06:22 PM   #3
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Re: When within a year...

Yep -- Jan 1. But as REW's linked messages indicate, the calculations of what you would have spent during that year is based on end of year inflation.
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Re: When within a year...
Old 01-19-2007, 06:47 PM   #4
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Re: When within a year...

Quote:
Originally Posted by dory36
Yep -- Jan 1. But as REW's linked messages indicate, the calculations of what you would have spent during that year is based on end of year inflation.
So if on December 31, 2007 I decide to retire in December of 2008 and contribute $50k per year until retirement, it would credit little or none of the $50k. Good to know, especially as you approach the final year or two.
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Re: When within a year...
Old 01-20-2007, 06:31 AM   #5
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Re: When within a year...

Since the granularity is a year, if you enter the annual contribution amount of $50k and enter 2008 for the retirement year, then it will credit the $50k for 2007, but will not enter it for 2008.

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