Poll: Which source provides the most retirement income for you?

[nun]

I'm interested to see where ER folks get most of their income. I haven't ERed yet, but when I do about 65% of my earnings will be from various defined contribution plans. Once I reach the official retirement age various social security plans will probably provide most of my income.

 

[MichaelB]

Ours is entirely from our taxable portfolio.

 

[gerntz]

No one thing listed is the majority. So can't vote.

 

[nun]

No one thing listed is the majority. So can't vote.

We've run into an interesting difference between US and UK English usage..In the UK majority means "most" and not more than half as in the US. Does anyone know how to edit a poll title so I can "Americanize" it.

 

[MichaelB]

We've run into an interesting difference between US and UK English usage..In the UK majority means "most" and not more than half as in the US

So would the "americanized" version read "Which source provides the most retirement income for you?"

 

[nun]

So would the "americanized" version read "Which source provides the most retirement income for you?"

yep

 

[REWahoo]

Perhaps the mods can change the thread title to reflect your intent? And add "Poll:" as a prefix?

 

[MichaelB]

Perhaps the mods can change the thread title to reflect your intent? And add "Poll:" as a prefix?

Check.

 

[devans0]

I am on the one-more-year fence. I have a multi-legged stool for retirement. Defined benefits will meet needs, even with the early retirement reduction. I assume a 25% reduced social security on top of that that could be a nice bonus. At a 4% rate, defined contributions will add the most to net worth, but other investments could be used to ride out a retirement.

 

[ziggy29]

Isn't "retirement income from work" (even if only part time) an oxymoron?

 

[tangomonster]

Like Michael, ours is 100% from investments (too young for SS, earn $200 a month or less from very part-time work and $300 a month from a pension, so not quite 100%, but definitely 99.999%).

But---why is the only choice for this "taxable investments?" We are mostly in muni bonds, so a better choice would have been taxfree investments....

 

[Katsmeow]

I had a little difficulty with this as the strictly accurate answer is actually somewhat misleading. That is, most of the income is from an IRA. However, DH had the option of a traditional pension or he could take a lump sum and roll it into an IRA. He chose the lump sum and it is in an IRA but its source was a DB plan.

 

[rescueme]

Where's the "employed spouse & welfare" options?

BTW, mine's totally from a rollover IRA (e.g. 401(k) to IRA) - another option. That will be replaced for the "most income", from SS when I start to collect in another six years (at age 70).

 

[youbet]

Like Michael, ours is 100% from investments (too young for SS, earn $200 a month or less from very part-time work and $300 a month from a pension, so not quite 100%, but definitely 99.999%).
.

If $200 from part time work + $300 from a pension represents only .001% of your income, you're doing pretty well for yourself!!!

 

[nun]

Isn't "retirement income from work" (even if only part time) an oxymoron?

yes, sort of. that's why i include the "less than 20 hrs a week"

 

[youbet]

Isn't "retirement income from work" (even if only part time) an oxymoron?

+1

 

[youbet]

We're about half pension + SS and half FIRE portfolio withdrawals. I picked taxable investment income as our major source since we haven't hit the IRA's yet and in years when we need a new car or something else major, portfolio withdrawals will no doubt exceed SS + pension.

 

[Animorph]

Taxable now at the start, but IRA/Roth IRA in 5 years or so, with SS not really all that far behind depending on when we take it.

 

[rescueme]

I picked taxable investment income as our major source since we haven't hit the IRA's yet...

And assuming they are not Roth's, they will also be taxable ...

 

[rescueme]

Isn't "retirement income from work" (even if only part time) an oxymoron?

Hel*, even an hour a week (or month, or year) is too much ...

 

[Mulligan]

All of my income comes from a pension. Currently saving and investing in an attempt to create another leg for my one legged retirement stool.

 

[youbet]

And assuming they are not Roth's, they will also be taxable ...

Try reading the choices in the poll.........

 

[JmfromTx]

My pension has turned out to be my biggest source of income. Since I retired in March my taxable withdrawal each month has averaged 73% of the amount of my pension which has been a pleasant surprise.

 

[nun]

Does the low proportion of DC plans mean that they haven't been a good way to invest for retirement? Do you think that the rate of people ERing will go down as DB plans disappear?

 

[MichaelB]

Does the low proportion of DC plans mean that they haven't been a good way to invest for retirement? Do you think that the rate of people ERing will go down as DB plans disappear?

It may mean many of the retired people answering the poll predate DC plans, so they had some combination of DB or taxable savings. A younger group, say people in their 40's, might show a more reliance on tax deferred options like DC or 401(k).