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I don't know, anybody know if that is possible? I thought there were maximums of just a few thousand dollar a year that I can contribute to a traditional or Roth IRA? Do laws allow one to roll over a lump sum retirement account like my TRA into something tax deferred?

I do not have any serious health issues myself other than the usual dental issues (cavities, crown, sigh). No meds, no diseases, healthy. My parents are both alive in their early 80s but as I said my mother has advanced Alz. I believe I could take a lump sum of around $100k before taxes for my...

Retiring from teaching in 2 years (will be age 55 then). I will have a TRA (teachers retirement annuity) at that time-- with two options-- do I take $3000/month for 10 years followed by $1000/month for life, or do I take the other option of $2000/month for life? I currently have about a...

I have no health problems, knock on wood. Only a cancer or something like that could hit me hard financially. I actually thought of what you said though-- self insuring, because I heard about someone who does just that, just a couple of days ago on public radio.

Thank you Rita, that site was fast and quick to get some idea on the cost of my health insurance once I retire!

It is the medical/dental insurance costs I need to learn about, big unknowns for my future retirement budget. If anyone feels like tossing me a bone to lead me to a site to start figuring that budget item out I would be quite grateful; I will also do some googling. ~randall

It is inflation that concerns me. I am old enough (52) to know that when I was 12 a candy bar was 15 cents, milk 50 cents a gallon, magazines a quarter or 50 cents. Then I see today's costs, and what they could grow to in 20-30 years. I guess I just have to be sure not to draw too much out of my...

Yes, I do need to figure out my retirement budget. So foreign to me, I am so used to my employer paying 100% of my medical and dental, so I have NO idea whatsoever what that insurance costs, I do not even know what the heck medicare and medicare even are all about, I am insulated from all that...

Thank you MasterBlaster. Makes sense. I earn $100,000 a year but I live on maybe $2000/month take home (I own my home and car, have no debt, a single guy-- artist, writer, etc). When I take early retirement in 3 years (age 55) I will have a retirement pension of $3000/month, then $1500/month in...

Thank you for confirming my thoughts. That 70% figure just seemed too simplistic and speaks nothing about ultra frugal people like me who live on next to nothing compared to my gross salary. I save massive amounts of my savings, I am Mr. Frugal, so it just did not makes sense that I would need...

I am looking to take early retirement in 2012. I often read e.g. that one needs 70% of one's salary upon retirement. But what does that really mean? If for example I have a salary of $100,000 but I save HALF of that (401k, 403b, liquid mutual funds), so that I am used to a take-home GROSS...