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Richard Connor, 10:55 am ET

MY WIFE AND I DO a mid-year and year-end financial review. This includes an updated family balance sheet, cashflow analysis, portfolio review and a review of retirement projections.

I’m semi-retired and do some consulting when work is available. This income isn’t guaranteed, so I keep a spreadsheet that estimates our income and tax burden for the year. I usually update this quarterly to see if we need to submit any estimated state or federal tax payments.

During our twice-yearly financial review, we discuss spending priorities for the next six months. Our 2021 mid-year review was less routine—because my wife retired at the end of June. We’ll most likely roll her company 401(k) into her IRA at Vanguard Group, at which point we’ll have to choose how to invest that money. The biggest issue, at least in my mind, is that for the first time we’ll have to start withdrawing funds from our retirement accounts. We need to decide which investments we’ll withdraw the money from and how much to withdraw.

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David Lamb
David Lamb
1 month ago

We do a quarterly comprehensive financial review. The cashflow element includes spending analyses which for us takes the place of budgeting which many find so difficult.

Don Goodwin
Don Goodwin
1 month ago

I had no problem transferring shares of most of the mutual funds from my 401k to my IRA when I retired. I think there was only one fund that had to be sold within the 401k and the cash moved. Caveat: my 401k and IRA were with the same vendor.

David Powell
David Powell
1 month ago

Facing this same rollover situation in some years. Do you know if it’s possible to just transfer assets from a 401(k) to an IRA when doing a rollover? Do you always have to sell the assets in one account, transfer the cash, and repurchase the assets in the IRA?

Rick Connor
Rick Connor
1 month ago
Reply to  David Powell

ive never heard of direct transfer of assets during a rollover. I asked a financial planner friend and she had never heard of one. Sorry

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